by Skeet Sirmons
All the kids are out on their own; it’s just me in this big old house. The yard’s become more of a chore than a joy to deal with. I’ve started thinking it’s time to downsize. I’m not sure where to begin. I’m thinking about calling an auctioneer.

This farm has been in my family for well over 100 years, and I’m the last generation to farm it. It’s provided for my family; we managed to get the kids through college and now our daughter is a successful accountant and our son is an engineer. They don’t want the farm, and I don’t much blame them. I’ve been thinking it’s time to trade in my tractor for a fifth-wheel and take the Mrs. on a few adventures across America. I’m not sure exactly how to get this ball rolling. Maybe I should call an auctioneer.

You may have a similar story or know someone who does. Considering an auction could be the right solution; however, before you make that call be sure you have done a little bit of homework ahead of time.

NOT ALL AUCTIONEERS ARE THE SAME.

In the state of Kansas it is relatively easy to become an Auctioneer. Just because a person claims to be an Auctioneer doesn’t necessarily mean you want him or her to manage your auction. It is always best to check out his or her credentials and get references if possible. Check to see if he or she is a member of their state’s Auctioneer’s association such as the Kansas Auctioneers Association (KAA) or the National Auctioneers Association (NAA). These organizations require their members to abide by a strict code of ethics. Find out how long they have been managing auctions like yours. Are they bonded? Do they have the necessary license to sell what you are looking to sell such as real estate? A well established Auctioneer can make a huge difference when it comes to making your auction a success.

WHAT IN THE WORLD IS THAT THING?
While Auctioneers can sell just about everything you can imagine, most of them don’t. Most Auctioneers, after years of experience, find themselves specializing in certain areas. It is not unusual for an auction firm to have several Auctioneers who specialize in different things. Some Auctioneers specialize in real estate while others specifically concentrate on antiques or art. The important thing to find out is if the Auctioneer you are considering has experience with the type of property you want to auction. Are they knowledgeable about the property’s potential value and who the buyers might be?

MARKETING: IF YOU BUILD IT THEY WILL COME
Building a good marketing plan is critical if you want your auction to be a success. Marketing is a necessary expense and a seasoned Auctioneer will work with you to prepare a marketing plan that fits your budget. Make sure you know from the start where your marketing dollars are going to be spent and don’t hesitate to ask questions if you don’t fully understand something. A good marketing plan should include things such as mailers, internet presence, local and regional paper ads, advertisements in magazines and newsletters specializing in the type of property you are selling. Radio and television could also be utilized if your property warrants it and your budget allows.There are many ways to market an auction depending on the nature of the property and the budget you and the Auctioneer have established.

I THOUGHT YOU SAID...
Communication is an essential part of any relationship and especially between you and the Auctioneer. You are entrusting your property with another person and you should expect an open line of communication with that person. Find out from the beginning how often you will receive progress reports and make sure you deal with any issues before they become major problems. The Auctioneer needs clear and open communication from you as well. Anything that might even remotely be a concern should be discussed. If there are legal issues surrounding the property, multiple owners, trusts, etc., all of these things should be identified up front.

GO AHEAD AND MAKE THE CALL
If you have taken the time to do a little bit of homework and feel comfortable with your selection of Auctioneers, then go ahead and make that call. Let the Auctioneer and his team do what they are trained to do—to make your auction a success.

Skeet Sirmons is the Business Development Manager for United Country-Theurer Auction/Realty, LLC.