Tips for Real Estate Auctions in Brisbane

10 Tips for Bidding at a Brisbane Auction by Real Estate Buyer Services

Real Estate Auctions in Brisbane are very different from the other states in Australia

There is a distinct process that must be followed when preparing to win and be the highest bidder.

Understanding the rules whilst being surrounded by crowds and competition in bidding can require nerves of steel.

10 Tips for Bidding at a Brisbane Auction by Real Estate Buyer Services

Here are 10 Auction tips to prepare bidders before the big day.

1. Inspect the property

Do some inspections of the property and the area to really know what you are buying. Arrange for Pest and Building Inspections or other searches before the auction. Buyers can make offers before the auction.

2. Compare recent sales

Look at recent sales in the area to understand the possible pricing and know that the bidding may go much higher.

3. Get your finance approved.

QLD auction contracts have no cooling-off period, and if you win, you must pay within 24 hours.

4. Talk to your Accountant

Please! It’s too late to change names or entities once you have signed the paperwork.

5. ID

You will need your Driver’s Licence at the least to register and to participate in the bidding – No dummy bidding is allowed.

6. Proxy Bidding

You need to be clear at registration that you are bidding for another person or entity and have all the relative paperwork in order.

7. Watch the auctioneer

Especially when you are bidding and pay particular attention to the rising dollar value of the progressing bids and by how much they are incrementally increasing by. It is easy to get lost in the bidding frenzy.

8. Know your maximum limit

Whist very tempting, don’t bid higher than you can afford. Write it on your hand or have it somewhere that is highly visible to you.

9. Strategy

Have a plan of attack. Go in hard, go in soft. You choose. Take your time. Try to slow the bidding down a bit with smaller incremental rises. Bluff your opponents – Bid aggressively to show you have all the funds you need and will win!

10. Vendor Bids

Auctioneers can accept vendor bids up to the reserve price, but the auctioneer does not have to disclose if the reserve price has been reached. If the reserve price has not been met and the property is passed in, it can be sold by private treaty. If this sale is made within two days of the auction, then there is no cooling-off period.

Buyer’s Agent clients come to us for Auction Bidding for a variety of reasons. Maybe they feel very overwhelmed or don’t like crowds, are unsure of the process, or may have already put in an offer that was rejected.

They could be related or known to the seller and don’t want this revealed.

Buyers have possibly missed out many times before, or live Interstate or Internationally.

If this is you, then we can help!

Book your FREE Consultation with Mandy today!

You Might Also Enjoy...

Leaving home for the first time to rent a property. Image of young adults smiling, upside down.
Renting for the First Time

Attention Young Renters! Are you leaving home for the first time? Get ready to rent for the first time with our handy tips!

Buying Property in Brisbane & Moreton Bay is easy with a buyer's agent. Image of white kitchen with chandelier and timber floors

Buying Property in Brisbane and Moreton Bay Has Never Been Easier!

Real Estate Buyer Services: Your Trusted Partner for Effortless Property Buying.

Tailor-Made, Hassle-Free Experience

Our Services Are Designed For You

We have a range of services designed to help you navigate buying property with ease. With over 30 years of experience doing what we love – everything real estate! – you’re in the very best hands!

Property Advisory Services in Brisbane and Moreton Bay

Property Advisory Services

Our Qualified Property Investment Advisors work with you to create a tailored plan for the first property and the next.

Helping you choose the investing strategies which suit your current circumstances and your expected future prosperity.

These plans are then reviewed on an annual basis to give you the best chance of success.

Buyer's Agents Services

Purchasing a property should be a great experience!

From initial searching to settlement, our aim is to present only the best properties fulfilling your criteria.

We Purchase for:

  • Home Buyers
  • First Home Buyers
  • Investment Property Buyers
  • Expats

Services include:

  • Full Buyer Service (all done for you)
  • Appraise & Negotiate
  • Auction Bidding
  • Vendor Advocate
  • Coaching / Mentoring
  • Property Reports
  • Portfolio Management 
Buyer's Agent Services by Real Estate Buyer Services
Property Management Services with Real Estate Buyer Services in Brisbane and Moreton Bay

Property Management Services

Property managers are your partner in wealth creation.

Our job is to help you get to the next goal, whilst increasing your wealth through passive property investment and keeping your investment in great condition.

We are business owners and award-winning Property Managers who have been managing property portfolios for over 30 years. With quality, long-term tenants who stay with us for two to three years (on average), you enjoy excellent peace of mind and consistent rental income. 

We know exactly how to keep your property earning excellent income and increase your wealth year after year.

Plus, our service is guaranteed!

Share this