How Can You Come Out On Top At Auction

Host: What are your tips Paul in tight markets and in one’s where you can be a bit choosier.

Paul: I mean if Alex’s is in Hobart is writing it from Hobart for me. Hobart’s auction typically on their annual or weekly rates hovers anywhere between half a dozen to a dozen auctions on a big week and out of that the clearance rates will have a 100 percent to 0 percent. So, it really comes down to a majority of those properties that market typically the higher end properties that do auction in Hobart. So my tip personally in that market is especially now I think where we’re getting closer to the top end of the Hobart market in the Hobart run, is really understand the markets and what you’re wanting to buy what you actually want to buy within those markets try to find the agents who are listing the majority of the properties that you really are keen on and go into their office buy them a coffee and let them know exactly your price point the streets the property types and tell them that you are finance ready. What you’re looking for and hopefully from that point tell them to give you the property or at least access to look at a property before it gets to the market. Avoid these auction conditions at all costs because ultimately auctions are there to benefit the vendor or they’re there to create competition and the job of the buyer to get the best price is to eliminate competition. So that’s what I would personally want to be seeing happen

Host: Right. Okay Luke we’ll bring you in on this one now maybe you can expand Alex’s question out too to places where there are more auctions happening around you and what is, what are some good tips to stand out at auction.

Luke: Yeah they’re good tips to stand out at auction, is to not buy at auction first of all.

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