If you like our content - please share!

In this blog we explain why you should use a Buyers Agent at auction, and how can they help give you an advantage.

The number of properties being sold by auction in Brisbane is starting to increase. We have traditionally been a market dominated by private treaty sales, however with more recent market trends, we are quickly becoming a city where auctions are more prevalent. This article will explain how a Buyer’s Agent can help when you need to participate in an auction to secure your perfect home or investment. So, why use a Buyers Agent at auction?

When a property is listed for sale by auction, the main goal of the sales agent and the auctioneer as a team on the day is to draw out the maximum possible purchase price for the vendor. The auctioneer does this by asking for minimum bid increments from the bidders and creating a sense of urgency, whilst the sales agent does this by talking to bidders, often standing side by side with them, encouraging bidders to put forward a bid in an attempt to increase the current bid amount. If an auction stalls, tough negotiations can pursue, and inexperienced negotiators often falter under this type of pressure. The environment at an auction is often one of high pressure, which can create anxiety and stress in any bidder who is not familiar and confident with the auction bidding process.

Why use a Buyers Agent at auction? Engaging a confident, experienced and professional Buyer’s Agent to bid on your behalf and to represent you on auction day, takes the pressure away from you as the buyer. Instead of getting caught up in the high-pressure tactics, as a buyer, you can relax a little knowing that your emotions will not get in the way of the important decisions that you need to make. 

We often see tell-tale signs that inexperienced bidders give away, especially when they are approaching the top of their budget. Body language, facial expressions and delays in bidding can all indicate signs to a professional bidder that others are at or approaching, their maximum bid limit. Here are some of the reasons why engaging a Buyer’s Agent to represent you makes sense.

1.  Why use a Buyers Agent at auction? – Eliminate the Emotion

When you buy at auction, there is no cooling-off period, so you need to ensure you are making informed decisions that are not fueled by emotion. Spending a “little bit more” might put you in a financially stretched position, or feeling emotionally attached may cause you to bid more than you actually need to.

Professional Buyer’s Agents will remain calm, non-emotive and focused on getting the best possible result for you. Acting under your prior written instructions, there is no need for emotions to sway your decision on the day. Instead, the decisions are made before auction day, when you are feeling calmer and level-headed.

 

2.  Why use a Buyers Agent at auction? – Be better prepared

Understanding the market and what you may need to pay to secure a property is important when setting auction bidding limits. An area specialist Buyer’s Agent, who is in the market daily, is an expert at researching and understanding property prices. A professional can provide informed pricing guidance, therefore enabling you to be more prepared on auction day, or even suggest an alternative strategy such as placing an offer prior to the auction, when there may be an opportunity to do so and it is warranted.

Additionally, when bidding at auction it is important to understand the paperwork that is involved, both prior to bidding and immediately following an auction win. A licensed Buyer’s Agent can guide you through this process to ensure you are informed and confident.

 

3.  Why use a Buyers Agent at auction? – Be objective during the auction

Buyer’s Agents do not feel intimidated at an auction like many other buyers who are less familiar with the auction bidding process. They will bring all of the tricks of the trade to intimidate other less experienced bidders, which will work to the advantage of their Clients. Having a qualified bidder to represent you instills confidence and in the event that an auction enters negotiations prior to selling, you know that you also have an expert negotiator on your side who will have emotional detachment in this daunting process.

 

There are many advantages of how a Buyer’s Agent can add value when engaged to bid at an auction on your behalf.  If you are buying in Brisbane, and you need an expert auction bidder and negotiator on your side, reach out to the team at Streamline Property Buyers. We would love to help!

 

Get in touch if you would like to know how we can help you. You can book in for a FREE Discovery Call with Streamline Property Buyers. We are the Most Qualified Team of Brisbane Buyers Agents.

Other blog titles you might find interesting:

When is the market fenzy in brisbane going to stop Why you should not let FOMO set in when you buy