I cherish the opportunities to put theories into practice. Prior to implementation it is nothing more than a good idea of possibilities. However, when you put a plan into action, then you are testing the idea against reality and that is where you learn if the idea is valid or not.
Over the past few weeks I have been privileged to see my theories on preparing for an auction as a buyer put into practice. All the years of being an Auctioneer has taught me some insight to put into practice on the other side of the mic. With a local auction happening tomorrow in our area, and another auctioneer at the helm, I have been given the opportunity to have some of my theories put to the test as I assist potential buyers in purchasing the piece of land they want. Tomorrow will be where the actual rubber meets the road, but here is what we have found out so far:
1. Having a plan works. I have written several articles on Having a Plan in order to be emotionally and mentally prepared for purchasing at an auction. One of the biggest enemies you will face at Auctions is the emotion of making a quick decisoin. However, having your decisions made before the auction will allow you to be much more prepared for the day of sale than simply showing up and hoping something works out.
2. Having someone who knows about the process on your side helps. I have assisted several people over the years as an Auctiioneer who were purchasing land at another Auctioneer's sale. Being aware of the process and knowing how it works has allowed me to help these buyers make proper plans before the day of the sale, as well as, help them navigate the bidding when the day arrives. If you have never, or rarely, purchased land at auction, it helps to have someone who knows the process well on your side.
3. Building a Plan reduces the stress prior to the sale. As you near the day of sale, having talked through your plan and built a proper game plan for the Auction, you can enter the Auction with a much lower stress level. It will not all be completely gone, that is just the nature of dealing with the unknown factors which you cannot control. However, having your game plan prepared and your expert buy your side, you can enter the day with confidence that you are in a great postion to come out as the winner that day.
Up to this point, all my theories prior to the sale have proven to be true. Tomorrow, the day of the sale, we will see if they end up "holding water" all the way through.
#Auction #RealEstate #Success #GamePlan #RoadMap