Do you keep missing out at auctions?
Buying a house at auction can be a stressful process, and hardly anyone has regular practice in this area to become truly familiar with the skills required to make the right moves at the most opportune times.
This is one of the main reasons that people miss out on their dream piece of property in the heated auction room.
Why have you not had success at auction?
St George Bank reports that 62 per cent of people head into the auction room without a clear strategy in mind, and this translates into 56.8 per cent of people missing out on the property they want. The primary reason for this, that 55.4 per cent of people admit to, is being outbid.
At auction, it can be an intense time. The home you’re looking at buying comes onto the lot and all of a sudden you’re up against a number of other bidders who all want the same patch of real estate. Some might be more experienced, or have more money to throw around, and this can put pressure on your price ceiling.
Bidding emotionally is one of the key mistakes Domain Group lists at auction that can cause buyers to spend far too much on a home, and pressure is something that contributes to throwing your hand up at a price you can’t afford, or one the home isn’t even worth.
A specialist buyer’s agent from Cohen Handler is experienced in the art of auction room bidding wars, and so will know exactly when to bid, how much to up your offers by and how long to wait to play the room. The way other bidders view your strength in the room is one of the most important ways that you can make them drop out of a race, even if they have more money than you to spend on a house.
If you keep missing out at auction, a buyer’s agent from Cohen Handler will be a great resource to set your strategy in the right direction and help you secure your next property.