Hunter-based real estate agent, Mark Kentwell, recently spoke at the annual Australasian Real Estate Conference (AREC), which was held at the Gold Coast Convention and Exhibition Centre.
Managing director of PRDNationwide Newcastle and Lake Macquarie, Mark delivered a presentation about his industry innovation which has revolutionised the way auctions are perceived in all areas around the county.
Addressing more than 4,000 delegates, including top property identities, as the pioneer of the Friendly Auction System Mark said the real estate industry can make auctions a win, win, win for buyers, sellers and agents.
“Auctions have consistently proven to be an excellent means of reaping maximum reward from a property sale over many decades,” Mark said.
“They generate maximum exposure and interest during what is widely considered to be the peak selling period. They also encourage emotional attachment and competition among prospective bidders.”
“The standard auction system can be hard on buyers, hence the reason why it is not generally considered the chosen sales method in many areas across Australia.”
“The friendly auction system is designed to cater to buyers by overcoming their concerns, effectively making it an everybody-wins scenario for buyers, sellers and agents.”
Mark conducted six months of research across the nation, identifying the main areas of concern for consumers and came up with practical ways to encourage bidders who may not have been previously comfortable with the standard auction system.
“Ninety-nine per cent of the problem buyers have is with out of pocket expenses and with those taken care of, plus clarity around a price guide and more flexible terms and conditions for bidding, everyone is on a level playing field,” he continued.
The Friendly Auction System is the product of evolving the traditional auction to suit the modern marketplace and was created following the research period in 2006, coming to fruition in 2013.
“This has resulted in better acceptance of auctions, greater bidder numbers and superior clearance rates of over 80%,” Mark concluded.
The Friendly Auction System has been so effective that Mark has achieved more property sales under the hammer than any other agent in Newcastle, Lake Macquarie and the Hunter.
Mark is also one of seven agency Principals shortlisted for a Real Estate Business 2015 national award, has consistently been ranked by Real Estate Business as one of the top 100 agents out of 40,000+ in the country and has been awarded the PRDnationwide top selling Principal every year since 2008 and the Real Estate Business number one selling Principal of 2014.
It is achievements like these that granted Mark an invitation to speak at this year’s AREC conference.
Mark’s book on the friendly auction system was launched at the conference and was snapped up by over 400 delegates following his talk.