When the fervour of auction fever takes hold, little can compare to the thrill of the chase and net effect.
The auctioneer plays a pivotal role in determining the outcome, as readers will discover:
Title: National Auction Manager
Company: Harcourts Auckland
Love of the sport — What do you love most about selling a property at auction?
You never know what you’re walking into. The unknown on auction day is where you can change people’s lives.
Experience pays — How long have you been an auctioneer?
Fully qualified — What qualifications did you undergo to become a licensed auctioneer?
I have been a real estate agent for eight years and I also completed my REINZ agent’s licence.
Vendor appreciation society — What is your best advice for vendors?
Agents are not valuers. Hire the best negotiators and marketers of property, as their job is to create a market. They are there to make you money and not save you money.
Bid to win — What is your best advice for bidders?
Introduce yourself to the auctioneer, face the audience and do not hide at the back. Do your research around numbers and google: double bidding/ fractional bidding/ jump bidding/auto bidding. You should also have a strategy meeting with your trusted advisor prior to auction, “as you’ll never truly know what you’ll do until you’re faced with it”.
Trophy wall — What is your proudest achievement as an auctioneer?
I’ve been lucky enough to win five auction competitions, but never the ‘Austro’ title, which keeps me awake at night and brings me back to the table every year — as only a fool knows everything and a wise man knows little.
Case of the jitters — What is your most nerve-wracking auctioneer moment?
It’s what keeps you on your toes. After 7,500-plus auctions, it does not really happen anymore. The only time would be an auction competition where your peers are reviewing everything you say and do — you have little control over what’s unfolding — and they are trying to trip you up, do you “find yourself sweating like a stolen horse”.
Best result — What is your biggest margin above reserve?
There have been plenty of great, bad and indifferent auctions over the years. Not the highest sale, but the best ones are the people you remember when you change their lives.
I always remember Wendy in West Auckland, who bought some land with a derelict house that no one wanted. She’s a great lady who worked at Bunnings and is a salt-of-the-earth type.
The council rezoned the land and several Chinese bidders scrapped it out over 130 bids. Wendy ended up retiring up north with family (to the tune of $4,825,000) — she had won her lotto and retired. Subsequently, I will always remember Wendy.