Are You Making the Right Call by Avoiding Auctions?

Today, we address a situation that many first-time home buyers
are often faced with: to bid at auctions or avoid them
altogether. We talk about the challenges and fears associated
with auctions and examine if avoiding them is truly the best
choice. This episode aims to make the auction process easier to
understand and share practical tips to help you make
well-thought-out decisions.


Auctions can be intimidating, they may seem simple in principle —
as the highest bidder gets the property. But, in reality, it's
quite complex and many potential buyers steer clear of them,
opting instead for what feels like easier options. However, in
areas where auctions dominate the real estate market, avoiding
them might mean missing out on the best properties. So, what
should you do if you're caught in this dilemma?


Don't let uncertainty hold you back from exploring the
opportunities auctions offer. Tune in now to equip yourself with
the tools and confidence needed to seize the best deals in the
market.


Episode Highlights:


00:00 - Introduction


02:45 - Meighan’s special house of the week


06:23 - What are the two main methods of property sale?


07:33 - Why an owner or agent would choose to go down the path of
having a public auction


10:18 - Importance of understanding the steps involved in
accurately pricing property


13:56 - Why setting a limit as a buyer before going into an
auction is vital


17:12 - Discussing the pros and cons of pre-auction offers


21:26 - Reasons why an agent would use pre-auction offers


24:06 - Understanding the types of bidders at auctions


26:41 - Why it’s essential to understand the different laws on
property in every state/territory


Resources mentioned in this episode:


The Elephant in the Room Property Podcast Episode 1: Who is
Really Making the Decisions When You Bid at Auction?
https://www.theelephantintheroom.com.au/podcasts/1


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

Your First Home Buyer Guide Podcast Episode 127: The Property
Blueprint: Experts Decoding State Rules Across Australia (Part 1
- Auctions) https://homebuyeracademy.com.au/podcasts/127

Auction Ready: How to Buy Property at Auction Even Though
You’re Scared S#!TLESS by Veronica Morgan
https://gooddeeds.com.au/auction-ready/

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



Resources:


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

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

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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