Real estate auction bidding strategies – Are you standing in your own way at auction times?

It’s really interesting talking to property buyers at the moment. The market has been booming for quite some time now and there is a considerable amount of angst being experienced by those who can’t seem to seal a deal. Quite often when I hear buyers talking about their frustrations I can tell immediately where they are going wrong. Here are a few real estate auction bidding strategies and situations:

  • After missing out at auction they decide they will never again look at an auction property. This means that they cut down their chances of finding a quality property as most of the good ones go to auction at the moment.
  • They paint all real estate agents with the same brush and end up being rude and dismissive to them. So of course they are given no favours and reduce their chances of getting any information that will help them to be the eventual buyer.
  • Wishful thinking takes over and they constantly talk about the impending market crash, all the while the boom continues and they end up priced out of it.

Now, don’t misunderstand me, it’s tough out there, but often it does seem that the buyer is actually standing in his/her own way. After every disappointment it’s important to dust yourself off, learn the lessons you need to but leave the negative reactions behind. Maybe now is the time to get some real estate auction bidding strategies assistance.

Published: July 2014

Further reading:

What do auction clearance rates mean?

When to bid aggressively at auction

How to decide when to make an offer before auction

DISCLAIMER: Good Deeds buyers tips are intended to be of a general nature. Please contact us for advice that is specific to your individual circumstances. You may also need to get advice from other professionals such as an accountant, mortgage broker, financial planner or solicitor.


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