Welcome to part 2 of the auction day guide where we help you buy the property you want in Sydney. Part 1 outlined the first five steps you need to take leading into an auction and up to the first bid. This article will explore the ways you conduct yourself once the first bids been made and how to close the deal.
1. Don’t state the bid increments and instead announce the full bid
You may have noticed that some bidders like to call out just the bid increment. They may mutter $1,000 to increase the bid. By simple stating the bid increment, the amount doesn’t sound as powerful. However, by announcing the actual price increase e.g. $762,000, it makes a bigger impression. Be confident and clear when you declare your bid.
2. Keep track of your bids
There’s nothing worse than getting caught up in the moment during an auction. Despite auctions being nerve wracking, you really need to keep control of your emotions. Keep a record of all the bids you make so you don’t get confused. Also, the act or recoding the bid makes you look like you mean business. It shows the other bidders that you are serious and organised.
3. Enquire if the property is in fact ‘on the market’
Make sure you stay in the drivers seat and ask the auctioneer to tell you if the home is on the market. Knowing the house is on the market can really bolster your game plan. Plus it shows other bidders that you are serious about the property.
4. Control your body language
Body language is extremely important in a high-pressure situation like an auction. Often people have no idea of the message their body language is giving off, which is why it’s important o be aware of it. A calm, collected and confident stance works wonders and makes others thing you know what you are doing, even if you don’t. Avoid slouching or looking anxious, as these are tell-tale signs you’re getting worried.
5. Bidding is all about control.
Even if you are beginning to reach your budget, it’s important you continue to control the pace of the auction. A good trick is to start changing the bids. If bidders have been rising in increments of $10,000, slow it down to $5,000 and the bidders will most likely follow.
6. Hire a professional bidder
If you don’t think you have what it takes to bid, then why not get someone more experienced? Buyer’s Agents or Advocates are specially trained to do the bidding for you. As they do it every day there are no nerves of emotions involved. Often an auctioneer has a knack of recognising an emotional bidder, so make sure you to ruin your chances of claiming your dream home.
7. Enjoy yourself
Having fun is probably the most important thing to remember in the whole process. Don’t get bogged down with the seriousness and formalities of the situation. Purchasing a home is meant to be a really exciting a1. Don’t state the bid increments and instead announce the full bid You may have noticed that some bidders like to call out just the bid increment. They may mutter $1,000 to increase the bid. By simple stating the bid increment, the amount doesn’t sound as powerful. However, by announcing the actual price increase e.g. $762,000, it makes a bigger impression. Be confident and clear when you declare your bid. nd enjoyable time, so don’t forget to stop and smell the roses. Hopefully at the end of the auction you will have walked away for the house of your dreams at a reasonable price. Even if you don’t manage to get the house you wanted, there’s always better luck next time.
So now it’s time to start looking at the properties available. Make sure you check out BidRhino’s online listings, which can be purchases online. If you want to Buy Property in Sydney.
1. Don’t state the bid increments and instead announce the full bid
You may have noticed that some bidders like to call out just the bid increment. They may mutter $1,000 to increase the bid. By simple stating the bid increment, the amount doesn’t sound as powerful. However, by announcing the actual price increase e.g. $762,000, it makes a bigger impression. Be confident and clear when you declare your bid.
2. Keep track of your bids
There’s nothing worse than getting caught up in the moment during an auction. Despite auctions being nerve wracking, you really need to keep control of your emotions. Keep a record of all the bids you make so you don’t get confused. Also, the act or recoding the bid makes you look like you mean business. It shows the other bidders that you are serious and organised.
3. Enquire if the property is in fact ‘on the market’
Make sure you stay in the drivers seat and ask the auctioneer to tell you if the home is on the market. Knowing the house is on the market can really bolster your game plan. Plus it shows other bidders that you are serious about the property.
4. Control your body language
Body language is extremely important in a high-pressure situation like an auction. Often people have no idea of the message their body language is giving off, which is why it’s important o be aware of it. A calm, collected and confident stance works wonders and makes others thing you know what you are doing, even if you don’t. Avoid slouching or looking anxious, as these are tell-tale signs you’re getting worried.
5. Bidding is all about control.
Even if you are beginning to reach your budget, it’s important you continue to control the pace of the auction. A good trick is to start changing the bids. If bidders have been rising in increments of $10,000, slow it down to $5,000 and the bidders will most likely follow.
6. Hire a professional bidder
If you don’t think you have what it takes to bid, then why not get someone more experienced? Buyer’s Agents or Advocates are specially trained to do the bidding for you. As they do it every day there are no nerves of emotions involved. Often an auctioneer has a knack of recognising an emotional bidder, so make sure you to ruin your chances of claiming your dream home.
7. Enjoy yourself
Having fun is probably the most important thing to remember in the whole process. Don’t get bogged down with the seriousness and formalities of the situation. Purchasing a home is meant to be a really exciting a1. Don’t state the bid increments and instead announce the full bid You may have noticed that some bidders like to call out just the bid increment. They may mutter $1,000 to increase the bid. By simple stating the bid increment, the amount doesn’t sound as powerful. However, by announcing the actual price increase e.g. $762,000, it makes a bigger impression. Be confident and clear when you declare your bid. nd enjoyable time, so don’t forget to stop and smell the roses. Hopefully at the end of the auction you will have walked away for the house of your dreams at a reasonable price. Even if you don’t manage to get the house you wanted, there’s always better luck next time.
So now it’s time to start looking at the properties available. Make sure you check out BidRhino’s online listings, which can be purchases online. If you want to Buy Property in Sydney.
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