16/11/2021
Bidding at auction can be daunting and even the most confident individuals can be rattled by the pressure.
If you are attending an auction, you want to make sure you are as prepared as possible. To help you seal the deal, we've listed some of the common mistakes that bidders make at auction and how to avoid them.
1. Not having a budget
It's crucial that you have a budget set before you attend the auction. If you're not completely set on your budget, as the bidding gets high your body language will give you away and ultimately encourage other bidders to stay in the auction.
2. Avoid using small bids
An extra $5,000 here and there is not going to scare anyone away, especially in a hot auction. Instead, make faster bids that show you are confident and determined to get it over the line.
3. Not knowing the market
Finally, the biggest mistake is not knowing your market and, therefore, underestimating how much the property is worth. This will see you outbid quickly, unable to compete with others who are attuned to the property value.
Did you know as a Buyer's Agent I can attend, and bid at auctions for you?
Get in touch to find out more!
https://www.stridepropertycoaching.com.au/