COMMUNITIES OF PRACTICE
Pulling in a New Generation
Auctioneers offer ways to connect with younger audiences By James Myers
S
ince its inception, auctioneering has been a dynamic industry constantly evolving to meet demands, but the shifting generational markets create an ongoing challenge.
Bryce Hansen, CAI, president of Hansen Auction Group, put it best when he said in last year’s Conference & Show seminar on the subject of shifting generational markets that “this is something that could have been a topic 50 years ago – how do you adapt to the new people coming in? This industry is all about change, and it’s about how to adapt to buyers and sellers.” The Value of Education Anne Nouri, CAI, AARE, BAS, GPPA, a licensed real estate professional, is on the front lines of generational wealth shifting hands and feels a responsibility to educate the public about what the auction industry can provide. One outlet through which she offers this information is her podcast, The Downsizing Coach. Some topics include tax-deferred real estate investing, from clutter to cash, estate planning 101, heritage preservation, and downsizing. “I use that as an opportunity to bring in other individuals to interview and to educate my audience,” she said, adding that there needs to be a shift in auctioneers’ mindsets that they’re more than just service providers. “I think the mindset should be that we are educators about different options. And providing options and opportunity to sellers is
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the greatest gift we can share.” Auctioneers are in a unique position. They have direct contact with folks looking to part with property and pass on the earnings to their loved ones. The auctioneer can connect them with professionals who can guide them in reinvesting those earnings instead of cashing out and taking a huge tax hit. Nouri notes that while the younger generation may not have amassed the wealth necessary to acquire assets, having that conversation now about how to pass on assets from the elders to their loved ones is an important one. “We are able to create family harmony,” Nouri said. “We’re able to help them transition from not just selling the asset, but now you’ve opened the door to purchasing potentially multiple assets.” The Role of Social Media The agriculture and construction industries are no strangers to the auction method. But the average person on the street is unfamiliar with the auction process, so would they consider selling their family estate at auction? “No, they don’t. There is a huge opportunity for new sellers to become clients” he says. In an effort to reach that audience, Hansen says his company is relying, at least partially, on social media. But it takes work. It’s not enough to have a website or a Facebook page. The analogy he offers
