- Take the benefits of traditional auctions and combine them with the benefits of private treaty/EOI – SoldOnline gives you a brand new option to present to potential clients.
- Understand and empathise with a vendor’s ‘pain points,’ and win the listing every time.
Vendors who are selling their properties almost all have three major ‘wants,’ but in practice, they usually have to compromise on at least one, if not two or all three:
- The highest price for their property
- In the shortest possible time
- With the least amount of stress
When a vendor or their agent is considering the best way to sell a property, they have two main options: traditional auctions and private treaty/EOI. Each has its pros, but they also each come with a long list of cons. At SoldOnline, we’ve gone to great lengths to develop our offering to combine the best of both methods while doing away with most of the negatives.
Traditional auctions are good for getting the highest price for your property in the shortest amount of time. Still, they can be incredibly stressful on vendors, particularly if the price they get for their property will determine whether or not they can afford their intended new home.
The private treaty process is less stressful, but it’s often incredibly slow, and it’s impossible to know if you’re getting top dollar – while even if you only attract two very interested potential buyers, auctions always can surprise with a price well above expectations.
As you can see from the table above, SoldOnline takes the benefits of both private treaty/EOI and traditional auctions and adds yet another one – the flexibility to adjust the auction date and time.
What does all this mean for you, as an agent? It means you have another alternative to offer your prospective clients, one which may alleviate some of their concerns or ‘pain points,’ those things that are causing them anxiety or making them hesitant to list their property at all. If you are the only agent in your area using SoldOnline (or the recognised expert/market leader), you have a much greater chance of winning the listing.
Even if your vendor doesn’t opt for an online auction, by having the conversation and explaining the pros and cons of traditional auctions, private treaty/EOI, and online auctions with SoldOnline honestly, you’ll be able to show empathy with the vendor and win their trust.
An agent who doesn’t present each available option to the vendor (“This is a house you auction onsite – no question about it!”) might never realise that the vendor has a personal reason (perhaps a disappointing auction result when selling a property in the past) to be hesitant about using that method again. Chances are, that agent will have no idea why they lost the listing.
Remember, your reputation rides on the service you give to your clients, and the more personalised the service, the more people will rave about you.
Getting to know your vendor (including their fears and hopes) before pitching a particular marketing/sales plan will always pay off, with the vendor knowing you’ve custom-made a strategy that works best for both their property and for their personality.