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Hear the latest weekly insights into the property market via podcast by Rich Harvey, CEO and founder of Propertybuyer.

 
Fri 24 May '24 with Rich Harvey Granny Flats: Boost Your Yields & Faster Mortgage Repayments
 
 
Fri 3 May '24 with Rich Harvey Unpacking the Northern Beaches with Incredible Agents
 
 
Fri 29 Mar '24 with Rich Harvey How to build a $7 Million Property Portfolio from scratch
 
 
Sat 16 Mar '24 with Rich Harvey Why Invest in Melbourne?
 
 
Mon 26 Feb '24 with Rich Harvey Sydney’s Inner West – Hotspots and Outlook for 2024
 
 
Mon 12 Feb '24 with Rich Harvey Decoding Sydney’s North Shore Market – Outlook and Opportunities.
 

 

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Why use a buyers agent at auction?

November 13, 2014 / Written by Rich Harvey

 

By Rich Harvey, CEO, propertybuyer.com.au

If you're looking at taking on an investment property in Sydney, there's every chance you're interested in doing so at the auction block. The latest RP Data figures for October have shown that for the first time, Sydney has overtaken Melbourne for the sheer volume of auctions going on in the city. With so much property going on the block, you may be looking to get a bargain bid in. 

But before you head into this sort of arrangement, consider your options - including getting a buyers agent to bid on your behalf. Here's how we will help.

Removing the emotion

Auctions are high stakes, high emotion and, in this property climate, high price. When you get directly involved in the auction process it can lead to getting hot-headed and bidding more than you should. Buyers agents have extensive experience at the auction yard, and we know the tricks auctioneers and other bidders like to use. We'll keep it cool and make the right bids at the right time - and of course, stick to a financial plan we set out with you beforehand. 

When you win at auction in New South Wales, there isn't a cooling off period for you to back out of a deal - that's why you need the calm-headed expertise of a buyers agent acting in your interests at auction.

Tax benefits

When you buy property for investment, there are a lot of potential tax benefits - especially if you decide to negatively gear your property. But regardless of your property gearing, investors can claim buyers agent fees as tax deductible - just another benefit of engaging their services. 

What's more, when you use a buyers agent you are only dealing with one person to find you a suitable Australian property, rather than having to put up with several selling agents who aren't necessarily working in your best interests. Licensed buyers agents will only ever act in your favour at auction, so you should make sure they are the real deal with the Office of Fair Trading in whichever state you're buying in. 

These are just two of the benefits of working with a buyers agent at auction. We can also conduct research about the property you want and the surrounding suburb to determine how much it is worth, and whether or not you will really get good value at auction. 

With so many benefits available, it's a great idea to engage Australia's most awarded buyer agents here at Propertybuyer when you want to head to auction. 

The Propertybuyer
Podcast

 
Fri 24 May '24
with Rich Harvey
Granny Flats: Boost Your Yields & Faster Mortgage Repayments
 
 
Fri 3 May '24
with Rich Harvey
Unpacking the Northern Beaches with Incredible Agents
 
 
Fri 29 Mar '24
with Rich Harvey
How to build a $7 Million Property Portfolio from scratch
 
 
Sat 16 Mar '24
with Rich Harvey
Why Invest in Melbourne?
 
 
Mon 26 Feb '24
with Rich Harvey
Sydney’s Inner West – Hotspots and Outlook for 2024
 
 
Mon 12 Feb '24
with Rich Harvey
Decoding Sydney’s North Shore Market – Outlook and Opportunities.
 

 

Listen to many more
podcasts on our
Podcasts page.