With the majority of property in Sydney's top locations coming up for auction these days, many people are trying to sharpen up their skills before attending what can be nerve-racking experience.
Our job as a Buyer's Agents is to take away this pain and bid on the buyer's behalf to ensure they don't get emotion come auction day and end up going well above their limits. We wanted to share a few of our secrets that have made PK Property the successful bidder in some very heated auctions.
1. First of all; position yourself at the auction so you are aware of all your competitors and stand in a place where you can see everyone, as it is important to see when other bidders are getting to their price limit. If it is a couple bidding, it can sometimes be easier to identify when they are getting to their limit as most of the time they will look at each other in disarray and shake their heads in a 'no' motion when they have approached their limit, getting frustrated or disappointed with the way the auction is proceeding.
2. When bidding, it is advisable to open up the auction with a low bid so the auctioneer has to really work to get up to the reserve and you have enough time to use tactical bidding. This can also stop dummy bidders in their tracks as the majority of dummy bidding is not done in many amounts as it is usually performed in one to three larger bids to bring it up to reserve quickly.
At Pk Property, we have bid at hundreds of auctions and can help take the stress away on auction day from only $550. Contact our team today on 02 9960 1066 or enquiries@pkproperty.com.au.