Professional auction bidders provide valuable expertise for navigating high-pressure property auctions. Their skills in strategy, negotiation, and local market knowledge help buyers avoid emotional bidding and overpaying. With a professional by your side, you can approach auctions with confidence and secure your desired property at the right price.
Avoid Overpaying: Insider Tips to Outsmart Agents at Auctions
House auctions can be a thrilling experience, as you can score an incredible bargain or come away with something special.
However they can also be a very nerve-wracking and emotional, as you try to outbid all the other participants. To stay ahead of the competition and more importantly understand the tricks real estate agents might use, here are some of the strategies we use as professional auction bidders.
Did you ever bid at an auction on your dream home?
What was your experience like? Can you describe it in a few words?
It’s very easy to get caught up in the excitement of trying to purchase a property at auction, and end up going way over the budget you had in mind. This is partly because you will likely be unaware of the sneaky strategies real estate agents use at an auction, to try and push the price up so that you pay too much. Online auctions are a different beast altogether, since there is no way to read the emotions of other bidders.
The best way to ensure you stick to your guns when it comes to price is to get a buyers agent to bid for you – which is why here at Buyers Scout we offer an auction bidding service.
But if you do want to try your hand at buying at auction, it’s important to be aware of the tactics an agent might use to try and get more money out of your pockets.
Advice from our Professional Auction Bidders
Play on fear of loss
Don’t be surprised if another buyer/bidder pops up suddenly out of the blue. Are you prepared to pay an emotional price for the property? Don’t fall for this trick – know your budget and what the value should be and stick to it!
Pre-auction offers
Are the vendors really looking to sell the property before the auction? Do you understand their vendor’s motivation? When you make a pre-auction offer, they know what you are prepared to pay.
Working the bidder
One of the agents on the floor will be next to you as soon as you have put in your first bid. They are trying to encourage you to place a counterbid, even if it is against your own.
Negotiation during the auction
They will pull out all the stops to put pressure on you, trying to make you believe that there are no better opportunities out there.
You will be in a much better position when you understand the tactics you are likely to come up against when it comes to buying at auction. Do your own research and attend other auctions to get a grasp of the process, and what is going on in the market. When you find a property you want to purchase, you can get an independent valuation, and talk to other agents in the area.
If you want to have a go at auction bidding yourself, but don’t want to miss out, you might like to check out the 8 tips for buying at auction in this article.
Ask about our Auction Bidding Service
However, the best weapon you can use is to engage a buyers agent like Buyers Scout as your professional auction bidders. That’s because we are experienced property negotiators – this is the sort of thing we do everyday. We know how to handle the tactics used at auction, and are not led astray be emotions and excitement!
Call me now on 0420 472 544 or book a Free Discovery Call!
