Does the Auctioneer Matter?

Top 50 Questions about Farmland

Yes, the auctioneer matters greatly when it comes to selling farmland. The auctioneer’s ability to read the crowd, process information quickly, and make split-second decisions can significantly impact the outcome of the sale—and ultimately, the price you receive for your property.

Why the Auctioneer Matters

1. Real-Time Crowd Engagement:

   • The auctioneer is having a one-sided conversation with a room full of potential bidders, interpreting signals such as:
   • Their role is to keep the momentum and energy in the room alive while ensuring every bidder has an opportunity to participate.

2. Reading the Crowd:

   • A skilled auctioneer can sense hesitation or interest in the crowd.
   • Example: If a bidder is on the verge of raising their bid, the auctioneer might take a break to allow them time to decide, increasing the chances of securing a higher bid.

3. Maximizing Value:

   • The auctioneer’s ability to recognize when additional bids are possible can add significant value.
   • For example, just two extra bids on 300 acres at $100 per acre could add $60,000 to the final sale price.

4. Managing Complexity:

   • Auctions involve managing in-person, phone, and online bidders simultaneously.
   • The auctioneer ensures no bid is missed and that all participants feel engaged, regardless of location.

5. Representing the Seller:

   • The auctioneer works fiduciary for the seller, ensuring that the property is sold at the best possible price while maintaining fairness and transparency.

Key Takeaways

1. The auctioneer’s role is critical to the success of your sale—they ensure that no opportunity for higher bids is missed.
2. A skilled auctioneer can read subtle cues and take strategic actions, like breaks, to encourage more bidding.
3. The right auctioneer doesn’t just sell your property; they maximize its value through expertise and crowd engagement.

David Whitaker | Iowa Land Guy