Top Tips to Bid At Sydney Property Auctions

Top Tips to Bid At Sydney Property Auctions

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Buyers Agent Dan Sofo chats with Jake Moore, an experienced auctioneer who’s sold thousands of properties from studio apartments to $30M luxury waterfront homes, all under the hammer.

Jake spills the beans on the tricks auctioneers use to get higher bids, plus some great tips and strategies YOU can use to get the best result at an auction.

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Key Takeaways
1:18 Auctioneers are known for driving the pace. Jake controls the auction pace from faster to slower to keep everyone in the room engaged. “I know I can get more money by giving people a bit more time”
3:20 Jake shares how he identifies and keeps track of bidders and potential buyers in the room, including intel from the selling agents and remembering bidders from previous auctions.
5:09 Hear why the cornerstone of any good auction strategy is to put yourself in the property sellers shoes and just place a bid
5:58 “I've seen countless times a vendor prepared to sell at a certain price, but if it gets passed in refuse to negotiate”. Why you shouldn’t be that hostile buyer
6:50 The best piece of advice Jake gives to his family and friends about placing an opening bid.
7:49 The ‘three numbers’ clever bidders should have in their heads before the auctions starts (PS: clever sellers have these ‘three numbers’ as well)
9:24 Why you should be the highest bidder if the property is to be passed in.

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WANT AN INSIDER’S ADVANTAGE IN THE COMPETITIVE SYDNEY PROPERTY MARKET?
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