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PROPERTY AUCTION BIDDING

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Have you missed out at a property auction recently? Are you nervous about how to bid? Perhaps you’re not sure what bidding limit to set.

Auctions can be an excellent way to buy property and even get a good deal on the price, but it can be difficult for novices to gain the upper hand when bidding on a house. Our experienced buyers’ agents are experts at auctions and have the necessary skills as negotiators to save our clients tens of thousands and even hundreds of thousands of dollars by knowing how to play the right moves at property auctions.

Legislations governing property auctions in Australia can be tricky

While certain rules regarding real estate auctions are the same throughout Australia, there are important differences across the various states.

For example:

Queensland

When it comes to auctions in Brisbane, QLD, it’s illegal for sellers and their selling agents to provide a price guide.

Only registered buyers, with a numbered paddle are allowed to participate in the auction. Auctioneers in Brisbane – and the rest of the territory – must have a licence to work.

New South Wales

If you’re at an auction in Sydney, NSW, you can rest assured that the appraisals are accurate, because agents must have documents that verify the appraisal.

Sydney hopefuls are limited to one vendor bid only.

Victoria

If you’re bidding at an auction in Melbourne, VIC, you don’t have to register to participate. Nor do auctioneers need a licence to work in the state; an agents’ representative certificate will suffice.

Property auctions in Melbourne are less restrictive in other cities and states; for instance, there are no restrictions on the number of bids per vendor.

 

Our Auction Bidding Process

If you’ve only attended one or two property auctions, you’ll have learnt that it’s easy to get caught up in the whirlwind of emotions and start bidding too quickly, and to end up bidding too high. Even seasoned buyers who purchase homes as investments aren’t immune to the rollercoaster of emotions that come with the bidding process.

As impartial buyers’ agents, we take out the emotion and help you keep a level head while the excitement of the auction builds up around you. Our in-depth knowledge of the real estate market means we know precisely what the property’s current market value is and can thus prevent you from paying a sum that exceeds the original for-sale amount.

Together we develop a clear auction strategy designed to increase the chances that you’ll be able to secure the property. We help you work out your maximum purchase price well before the date of the auction and ensure nothing is left to chance. Our buyers’ agents know the property auction process inside out. They know which tactics work and which don’t. With us in your corner, acting on your behalf, you get the confidence to successfully manage what can be quite an intimidating environment.

Choosing Our Property Auction Specialists Just Makes Sense

Increased confidence isn’t the only advantage of having one of our buyers’ agents represent you at a property auction. You’ll save time, money, and stress because you don’t have to stay awake nights worrying about how to bid properly at an auction, and what to do if your bid is successful and you buy the house that’s up for grabs.

Our buyers’ agents are well versed in the laws governing Australia as a whole and their specific states or territories in particular. They won’t lead you astray by complying with a law in VIC or QLD, but then miss the boat when you’re waiting with your paddle in Sydney.

With substantial experience and unparalleled skills behind them, our buyers’ agents provide you with all the advice and information you need to make an informed decision about whether or not you want to participate in particular real estate auctions. You can also decide whether or not you want to enter a bidding war over an especially desirable home.

In today’s competitive real estate market, you want to know the true market value of the homes that go up for auction, so that you know that you are getting value for money.

With this in mind, it is definitely worthwhile using our Appraisal & Negotiation service. When you choose this option, we can actually negotiate a good price for the house before it goes to auction. Essentially, we bump you to the front of the queue and secure the property, removing the risk that someone else will outbid you should the house reach the auction floor.

A Note For Property Investors

Property auctions are great for real estate investors who want to buy houses to either renovate and flip, or who want to turn the house into a profitable rental property. They can usually get a great deal, especially if the house is a bit of a fixer-upper.

If you want to become a landlord, it’s a good idea to hire a property manager. A property manager takes on the lion’s share of the responsibility when it comes to day-to-day matters, vetting tenants, and resolving problems.

It’s not easy to find a reputable property manager, however, which is why we keep a list of experienced property managers in Australia who share our high standards of service excellence.

They offer a range of property management services, ranging from marketing and reference checks to inspections and paperwork.

Property management services are perfect for those who don’t have the time to manage all of the details that keep tenants happy, not to mention ensuring that their investment property complies with all of Australia’s property laws.

 

Our Auction Bidding Fees

Our auction bidding fees are just $550 as an attendance fee, plus a success of $1100 if we secure the property under auction conditions. It's a small investment to make for using a professional negotiator and avoiding the stress of auctions.

With substantial experience under their belts, our buyer’s agents’ successful auction bidding techniques will save you far in excess of our fees! Engage our expert negotiators today to bid on your behalf at your next real estate auction.

 
 

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