A day in the life of an auctioneer

Get ready for action

“I arrive at the office around 8 am and pack my car with everything I need, from microphones to paperwork to energy drinks to keep me going.

“Although I spend the whole property campaign thinking about how I’m going to run the auction, on the day itself, I like to have one last run-through with the other auctioneers from my office as a final preparation.”

Before he heads out, Renna calls all his clients to wish them the best. “I also phone all the major buyers, just to touch base and make sure they’re still coming along.”

Auctions begin

Renna typically conducts four to six auctions every Saturday, the first kicking off at 10 am.

“Before an auction starts, you’ll often find me in the backyard, just pacing up and down – not out of nerves, but because I am focused on getting myself into the right frame of mind. It’s a bit like being backstage before a performance. You have to psych yourself up.

“I try and get myself into a similar mental state as a sportsperson about to take the field. Without that mindset, you’re not going to run a strong auction for your client.”

During the auction

Renna says he loves the intensity of conducting an auction. “I always start with a short, punchy spiel about the property for sale. I think it’s important you don’t go on for too long. People like an auction that runs for about 15 minutes.

“The biggest thing during any auction is being able to react to the crowd and the way it plays out. Every auction is different because every person bids differently. You have to be able to read bidders’ responses and body language.

“A skilled auctioneer can manage the tempo of an auction by speeding it up or slowing it down. You’re also in control of the increments you’ll take at any stage and this is something I think a lot about when planning any auction – when I want to be taking $50,00 rises and at what point I’m prepared to take $1,000 or $500 rises and so on.

“You need to intuitively apply the right pressure at the right time to achieve the ideal pace for each auction.”

The hammer comes down … or not

When the hammer falls and Renna achieves a great outcome for his client, he says the elation is amazing.

“It’s hard to describe unless you’ve experienced it. It’s a huge high and a thrill to see clients so happy. On the other side of the coin, if the auction doesn’t go well, it’s very deflating. That’s part of working in real estate – there are very high highs, and very low lows.”

Negotiation time

When a property is passed in, auctioneers play a pivotal role in post-auction negotiations. “We bring in the highest bidder and negotiate to the best of our ability. Along with our selling agents, we’re there to get the highest possible price for the vendor, protect the value of their home and defend their reserve price.”

A job well done

There’s not much downtime for your average auctioneer. After a busy day of auctions, it’s time to head back to the office to complete paperwork and call clients from other open-for-inspections.

Renna says the best auctioneers truly love what they do. “You have to, because you don’t really switch off in real estate, especially not as an auctioneer.”