ALMOST 200 Ray White agents attended a special auctions skills training blitz in Melbourne this week facilitated by industry stalwart Mark McLeod and Ray White Victoria and Tasmania CEO Domenic Belfiore (pictured above).
The Hammer Time session was aimed at refining the skills of the group’s auction agents to smash their days on market.
Mr Belfiore said auctions worked to create competition in any market to get the best possible price for vendors.
“Auctions work best in all markets and right now we are in a balanced market. We are seeing our group auction clearance rate sitting at well above 60 per cent, well ahead of where the likes of CoreLogic and Domain are reporting for the industry but everyone needs to keep improving,” Mr Belfiore said.
Ray White’s Victorian network booked a 64.1 per cent preliminary clearance last weekend, vastly superior to what third party data collector Domain with 48 per cent while rival research house CoreLogic reported the clearance at 48.78 per cent.
“None of this is possible without hard work, high skill level and a dedication to get the best possible result for our vendors,” he said.
Mr McLeod (pictured) spent a lot of time with the agents discussing stock management and how to set up a successful sale sequence.
“We know we need to hone our agents’ skills and competition creation is in our company’s DNA so we owe it to our owners to enhance our agents' skills. This was actually the second auction training session we’ve run in Victoria in two weeks,” Mr McLeod said.
“All of our data shows us the higher the skill level of the agent, the better the platform they use and the more engaged they are with the sales process, the auction has the best possible chance of being knocked down on auction day.”
Ray White Group chairman Brian White said there were strong signs of price stabilisation in Melbourne.
“Everyone at the moment wants to know where the market is going and we are seeing the first steps that the downturn in Sydney and Melbourne is slowing,” Mr White said.
“We have great confidence that the market adjustment is coming to an end. Our strong auction results and high numbers of onlookers at our auctions show us that there are buyers out looking.
“Everyone wants to buy at the bottom of any market, so attending auctions will give you the best real time signs."
