Buyer Advocate at Auction

[LeoT]

Despite what some may say, auction tactics play a significant role in winning a property for a reasonable amount. It is a skill which develops with experience, so sending a friend may not always work...
Same with auction mistakes as neatly summarised by Jacque. The more experience you have the less likely you are to make mistakes and the more likely you are to spot others making them (and taking advantage of this). Emotions are a significant part of the auction game. Negotiations during auction in front of dozens of people may not be everyones cup of tee. After auction can be worse with all the smoke and mirrors...
NB: estimating what the property is worth is important but developing (prior to auction) a good feel what the property might actually sell for can be equally important.

Great post.

Leo

 

[Jacque]

Unfortunately, however, and especially in this Sydney market, you may want to secure the services of a good BA well before the big day- especially if it's a Saturday. There have been many weekends where we've had buyers call us a few days/week before but alas we are already booked in/inspecting for other clients. Last Sat a perfect example in point- I had to personally knock back 3 auctions due to other client commitments. Pity as one was in my local suburb I knew the agent, auctioneer and property pretty well) and another was a few houses down from an Inner West one we secured 3 weeks ago... why most auctions have to be scheduled between 11am-1pm on Saturday is pure madness if you ask us

 

[Sexyv40]

stick to your limit, and don't go too hard too early.

dress like a bum in shorts and thongs no one will take you seriously.

 

[holztor]

stick to your limit, and don't go too hard too early.

dress like a bum in shorts and thongs no one will take you seriously.

I'm interested in this tactic. Would it be better to dress as a bum in thongs and shorts with no one taking you seriously, or overdressing (suit) to intimidate people so that they think you can't be pushed around?