Latest NewsClose the Deal before It's Hammer TimeThursday, 16 February 2017

Avoid the stress and make your move before the auction.

When the auctioneer's singsong voice is soaring higher, all eyes are on you and the agent is whispering sweet sales tactics in your ear, the stress levels of the coolest house-hunter can rise.

Auctions are often despised by buyers so it's little wonder that now the market has cooled and vendors are more receptive to selling before market day, many buyers are jumping at the chance to avoid the shrill of the auctioneer's voice.

"When you're at an auction, you can't control the outcome as much, you see the other parties there, you're eyeballing them," says buyer's agent, Rich Harvey.

"Whereas if you do it prior ... it's generally less pressured and there's not as much emotion floating around as at an auction."

Buying before auction can lead to a more considered approach, Harvey says.

A buyer's agent from PK Property Search & Negotiators, Peter Kelaher, says he doesn't always buy before auction but he recommends jumping in early if the property is "very blue-ribbon and there's a lot of excitement on it".

"I'd try and buy it beforehand and walk away rather than spending all of your money and time going there and just getting flogged on the day," he says.

Many house-hunters are wary of being drawn into the web of pre-auction offers, scared of getting involved in a bidding war where it's hard to tell whether other bidders exist or not. On the other hand, if an agent is calling for pre-auction offers, it usually means the vendors are keen to sell beforehand and you may be able to secure a better deal.

But you'll need to be organised - and decisive.

Previous Next

Share This Article




Previous Articles