In this episode we talk through real estate commissions and who should normally be entitled to the lion’s share of it (listing agent or buyers agent). On the heels of the NAR lawsuit, the increased transparency around who is actually paying for the services rendered has forced the real estate industry to take a hard look at this question. Under normal circumstances, an “agent” should be hired and compensated by the party that is using their services. We discuss a reasonable approach to commission splits and the appropriate allocation of commission based on the services, expense, and expertise. A controversial topic that we enjoyed discussing on The Sale Ring podcast.

We are joined in the studio by the CEO of the National Auction Association (NAA), as we discuss her newly acquired role in the auction industry. The NAA has seen a lot of changes over the past 15 years and Allison takes us through some of her insight and experiences as she settles into the CEO’s seat at a National Organization. We discuss the recent sale of the long time NAA headquarters, advancements delivered by AI and the recent auction marketing summit which was held in Kansas City (Feb). Great conversation that should benefit all auction and real estate professionals. Enjoy the show.

In this episode we go through the multiple considerations related to how buyers think and place their bids at auction. Bidder psychology is important for auctioneers and brokers to understand, as it leads to stronger bidder engagement and higher sales results at auction. We discuss what really motivates bidders; how urgency works; and what auctions reveal true demand. We also talk about why certain buyers behave differently once they know they are competing against other bidders. Lastly we discuss the role of “time certainty” and the differences between emotional and analytical bidders. Enjoy the show.