Tips for Working with Sellers

First Contact with a Potential Seller:

• Identify decision-makers and stakeholders.
• Clarify understanding of online auctions and Equip-Bid's platform.
• Establish expectations and timeline.

Preparing for a Sales Call:

• Research similar items for valuation benchmarks.
• Compile a library of past sales for reference.
• Equip yourself with marketing materials and contracts.
• Dress professionally and appropriately for the location and weather.

Quoting Process:

• Consider setup, removal efforts, and additional services.
• Anticipate logistical challenges and adjust pricing accordingly.
• Streamline removal logistics for efficiency and profitability.

Tracking Profitability Over Time:

• Conduct quarterly reviews of all auctions.
• Assess performance against set expectations for each auction.
• Maintain constant awareness of financial outcomes throughout the auction process.

Identifying Red Flags and Saying No:

• Adopt a mindset where the seller needs to convince you to take their auction.
• Be wary of unrealistic expectations, financial woes, or unreasonable demands.
• Politely decline if the auction isn't a good fit or raise rates to discourage undesirable clients.

Closing Advice:

• Network within the industry and consider joining your State Auctioneers Association.
• Utilize Equip-Bid staff as a valuable resource.
• Prioritize ongoing education and professional development.