Replay Ep42: Nicole Jacobs and Barry Sloan - Auction Tactics

We will be talking to both a buyer's advocate and an auctioneer about the best tactics for bidding.

Wanting a buyer's agent perspective on tactics, prestige buyer's advocate Nicole Jacobs, from Whitefox Advocacy is here again to talk to us about the buying side of an auction. Nicole is featured as one of the Buyer's Advocates on 'The Block, is featured on 'Open Homes Australia' and regularly gives her advice through radio and print media channels.

1. How eager should we show the agent that we want the property, prior to auction?

2. What's the ideal bidding strategy?

3. Clare from Beaumaris wants to know how to combat the nerves?

4. How often do you see it that buyers have to be registered bidders at an auction? Why is this a good tactic by the selling agents?

5. When should we start bidding? Should we be the first or wait to see who else is interested?

6. What are the benefits of being the final bidder if it hasn't been declared "on the market"?

7. Ben from Williamstown wants to know before attending an auction for a house he wants to buy, how well should he get to know the auctioneer and their tactics?

 

Barry Sloan will give the auctioneer's perspective of what the best tactics are when bidding at an auction. Barry Sloan has been in the real estate industry for over 25 years and is a freelance auctioneer who helps usually smaller real estate agents get the best price for their marketed properties. He freelances right around Melbourne, understands every strategy buyers try to use,  and has conducted over 8000 auctions in his 25 years.

1. From an auctioneer's perspective, how can a bidder position themselves in a crowd to ensure the auctioneer knows they are interested in the property?

2. What is an auctioneer looking for, to work out who are the buyers? (Is it body language, first hand knowledge from agent/buyer or other tell-tell signs).

3. How should a buyer bid with confidence?

4. What are some of the things bidders do that can be misread either as a bid or not as a bid?

5. How can you tell the auctioneer that you've reached your limit without the rest of the crowd knowing?

6. Is the vendor or the agent in control of the auction?

 

CONTACT: 

Nicole Jacobs can be contacted at Whitefox Advocacy

Call: 0411 296 225 or email: nicole@whitefoxadvocacy.com.au

 

Barry Sloan - Freelance Auctioneer 

Call: 0405 330 000

Email:  barryjsloan@hotmail.com

 

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