I have been to hundreds of auctions in my time and find it fascinating to watch real estate auction bidding tactics. Auctions can be stressful for everyone involved and often buyers surprise themselves: either by bidding more or less than they thought they would. Some buyers register for auctions and never even end up bidding […]
Read MoreProperty buyers tend not to like auctions because they fear being outbid or they are daunted by the thought of having to perform in public. Often people prefer to try to make an offer before auction. But is this always the best strategy for a buyer? Here’s a sign to look for: if the sales […]
Read MoreYou should set your limit, your maximum bid, before you go to auction. So, how do you set a maximum auction bid? First of all, you need to forget all the other buyers and forget about the vendor, just for a moment. This is about you and the property. It’s about how uniquely this property […]
Read MoreThis piece was originally written a few years ago, when clearance rates were lagging at the end of spring. Then we noticed that Sydney auction clearance rates again climbed over 80% after a few weeks “slumming it” in the 70s. What do auction clearance rates mean? Were they showing that the market was getting stronger […]
Read MoreEvery state or territory in Australia has laws to prevent agent underquoting. These laws are meant to make sure that the agent quotes a price that is realistic and close to the figure prospective buyers can expect the property to sell for. The thing is, they’re not all that reliable. So it’s really important, as […]
Read MoreYou only bid aggressively at auction if you want to scare off other buyers, but before I talk about when it’s a good idea to bid aggressively, I want to remind you that you need to know what the property is worth, and what your maximum bid is before you go to auction. So when […]
Read MoreA lot of buyers are really scared about going to auction because they fear being outbid or they’re just daunted by the prospect of performing in public. Now because of this, a lot want to make an offer prior to auction. They think this is the best way to go about it. So, how do […]
Read MoreHave you ever met someone who married on the rebound? It’s a messy situation and once they realise what’s happened their choice is either to make the best of it or get out. The same thing can happen with house hunters after they miss out on a home they really wanted. It’s a surprisingly common mistake and one that […]
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