I attended yet another Mosman Auction on Saturday, this time as an interested spectator. The crowds started to gather and the ever hopeful, wide eyed potential new home owners registered to bid.
The experienced Auctioneer James Kerley began his preamble to fire up the crowd on a $4.7m guided family home. The usual hushed silence fell across the rear garden as no one wanted to open the bidding. Eventually and predictably, one brave soul raised their bidders card and offered an opening bid – we were off. After six different potential bidders randomly offered increased bids, it came down to just two. This is where and when a professional, structured well drilled strategy should be specifically deployed. But oh no. Again, it was so difficult to watch both parties trying to secretly discuss their next bid, seemingly with no clue of what the other half wanted to do. All the while the Auctioneer simply played with them both whilst at their most vulnerable emotional state. Extracting more and more money from buyers lacking clarity, they weren’t even sure how much they were bidding at one point! Mercifully one buyer conceded, the hammer fell and the applause began. Five buyers who had undoubtably spent time and money to prepare and attend this Auction missed out and their real estate dream shattered, time to start the process again.
The lack of Auction experience was clear and costly for all of the bidding parties. Anyone looking to bid at a property Auction for themselves should know that there are very affordable options to engage professional help to secure homes that are going under the hammer. Until you make the decision to employee a professional Buyers Agent (not all buyers agents are experts – please do your research), you simply cannot fully appreciate the value that we add, just read our Google reviews.
Enquire with us today if you are looking to bid at an Auction this week or weekend. We will give you the best chance of securing you next home at Auction.
My profile link: https://www.spbuy.com.au/your-team/marcus-gould/
Auction Bidding link: https://www.spbuy.com.au/auction-bidding-lower-north-shore-northern-beaches-sydney/
Marcus Gould LREA.
Director and Senior Buyers Agent.