Master Auction Bidding: Insider Tips from a Live Coaching Call

It's so easy to feel lost and overwhelmed at a property auction,
especially when you're a first home buyer with no experience
whatsoever. In today's episode, we provide you with practical
advice and strategies through the lens of a real-life coaching
session, answering critical questions such as determining your
maximum bid when the agent doesn’t provide a price guide, and
handling the auction process efficiently even when you can’t be
there in person.


Join us as we take you through the details of a real-life
coaching call with one of our students gearing up for her very
first auction. From discussing the merits of attending an auction
online versus being physically present, to breaking down how to
establish your price limit, this episode is packed with insights
that will set you up to be successful at your very first property
auction experience.


Get ready to elevate your auction strategies with our expert
guidance and real-life examples. Tune in now so you don’t miss
out on a valuable opportunity to learn and grow as a bidder!
Let’s get started.


Episode Highlights:


00:00 - Introduction


02:54 - Is it better to attend an auction online or should you be
physically present?


04:59 - What is your price limit going to be?


06:17 - Do you need to register or pre-register?


09:45 -  Best bidding strategies in auctions where the
number of bidders is unknown


15:15 - Auction strategies when a property is slow


19:34 - Auction strategies for a property that is hot


23:04 - Understanding incremental bids and how they change


27:01 - The importance of making stronger bids to assert
authority and understanding the risks


29:19 - Strategic bidding near the maximum budget during a
property auction


38:55 - Dealing with the uncertainty of property auctions despite
thorough research


42:39 - Determining what to pay for a property based on thorough
research and valuation


45:32 - How does awareness affect buyers' auction strategies?


55:15 - Implications of conducting online auctions particularly
in regional areas


59:40 - Dummy bidders


Resources:



FREE MINI COURSE: How to price property like a
professional https://www.homebuyeracademy.com.au/freecourse

Meet our recommended mortgage brokers at Home Buyer Academy
https://homebuyeracademy.com.au/brokers

Visit our website https://www.homebuyeracademy.com.au/

Join our Facebook Group to get access to free monthly live
Q&A sessions


https://www.facebook.com/groups/yourfirsthomebuyerguideaustralia

Learn how to buy property without making a mistake with our
ultimate 10-step online course for first time home buyers
https://homebuyeracademy.com.au/YFHBG

If you have any questions or would like to be featured on our
show, contact us at: Your First Home Buyer Guide Podcast 
support@homebuyeracademy.com.au

Looking for a Sydney Buyers Agent?
https://www.gooddeeds.com.au

Work with Veronica: https://www.veronicamorgan.com.au

Looking for a Brisbane Buyers Agent?
https://www.propertypursuit.com.au/

Work with Meighan: https://www.linkedin.com/in/meighanwells/



If you enjoyed today’s podcast, don’t forget to subscribe, rate,
and share the show! There’s more to come, so we hope to have you
along with us on this journey!


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