‘On the Market’ and ‘Reserve Price’ are fundamental terms to know when bidding at Auction. A Reserve Price is a minimum Price a seller is willing to accept from a buyer. During a 4-week Auction marketing campaign, a seller is not required to disclose their Reserve Price to potential buyers prior to the Auction.

A property is sold ‘under the hammer’ at Auction only once bidding is at or close to Reserve Price (the minimum price a seller is willing to accept from a buyer – the auctioneer will declare the property ‘On the Market’ and it will be sold to the highest bidder.

If the Reserve Price is not met, the seller is not required to sell their property, even to the highest bidder. If bids do not meet the seller’s price expectations or ‘Reserve Price’, the property is then ‘passed in’ or ‘withdrawn from Auction’.

While our Auction Bidding Strategy is to bid at least once at the start, a property going ‘On the Market’ is the most important step during the Auction. Buyers should not be scared to ask the question “is the property On the Market?” Once auctioneer declares property is ‘On the Market’, you’re playing for keeps and that’s when Your Australian Property ups the ante and bids strongly and aggressively at the Auction.

HOW TO REACH US: Talk to our team today about how our experienced Auction Bidding Strategists can save you far more than our fees. Call us directly on 0418 144 644 or send us a message via our Enquiry Contact Form.

Buying at Auction can be intimidating if you have never attended a property Auction before. Maybe you’ve heard all the obvious advice about property Auctions. For example, someone may already have warned you to ‘decide on your maximum bid before the Auction starts’. But what about bidding at Auction strategies and tactics that can actually help you gain an edge over competitors come Auction day?

Ultimately, success comes down to how much you are willing to pay for the property, but there are ways to give yourself the best chance of WINNING. Here are 5 tips for buyers to help them get the winning bid at Auction. They are:

• Do your research and due diligence

• Write down your upper limit

• Commit to a bidding strategy

• Does body language matter?

• Take the emotion out of Bidding

We at Your Australian Property are professional Auction Bidders who have over 30 Years of Experience using Innovative Auction Bidding Strategies to get the WINNING BID!

HOW TO REACH US: Talk to our team today about how our experienced Auction Bidding Strategists can save you far more than our fees. Call us directly on 0418 144 644 or send us a message via our Enquiry Contact Form.

No. Unlike other states of Australia including NSW, buyers do not need to register to be allowed to bid on Auction day in the State of Victoria – you can simply turn up at the appointed time and start bidding at the Auction.

So the great news is if you engage a Buyer’s Agent / Buyer’s Advocate in Melbourne to represent you at the Auction, it means you can remain 100% ANONYMOUS without any of your competitors or selling agents knowing. This is a smart strategy as it keeps the selling agents guessing. And it means you are a lot less exposed on the day in that event that you are the unsuccessful auction bidder – Remember the last thing you want is for any of the selling agents to know exactly what your maximum price limit is, especially if you are involved in a negotiation with the same selling agent on a different property.

HOW TO REACH US: Call us directly on 0418 144 644 or send us a message via our Enquiry Contact Form.

Using a Proxy Bidder means that you appoint a licensed Buyer’s Agent / Advocate to bid on your behalf as a buyer when either you cannot physically attend a property auction, simply feel uncomfortable or hate the stress of the Auction bidding process, or have little to no experience with the auction bidding process. In order for the Buyers Agent / Buyer’s Advocate to act as your Auction Bidding Proxy, you will need to sign an Auction bidding service authority, plus provide written instructions of your maximum purchase price limit and proposed settlement term conditions, including any deposit monies.

In the situation, where you cannot attend the Auction yourself a Power of Attorney is required. This will allow the Buyers Agent / Buyer’s Advocate to sign the contract of sale on your behalf, without requiring you to be at the Auction. Your Australian Property always recommends obtaining independent legal advice when it involves preparing a Power of Attorney form as they can vary. Luckily, we can recommend a very good and reliable legal firm who are extremely cost effective and highly personalised. They will provide a free review of the contract of sale and section 32 vendors statement, to make sure everything is in order, prior to the auction or private sale negotiation. They will also prepare the Power of Attorney (if required) at no extra charge, due to our current and ongoing relationship with them.

HOW TO REACH US: Call us directly on 0418 144 644 or send us a message via our Enquiry Contact Form.

Your Australian Property ideally requires a week’s notice so you can secure our professional services and ensure all paperwork is in order so we can attend your Auction. But, keep in mind that there are limited spots available for our Auction Bidding Service due to its overwhelming popularity each and every weekend. Therefore, to move forward with this exciting service, please let us know as soon as possible. 

HOW TO REACH US: Call us directly on 0418 144 644 or send us a message via our Enquiry Contact Form. 

Quite simply, our Buyer’s Agents are totally dedicated to ensuring your property buying experience is enjoyable, exciting and stress-free, and above-all you have a fun and rewarding customer experience. Clients can track every step using our Online Property Tracker to keep up to date with our progress in real time. You can have as little or as much input as you like. And of course, the biggest benefit of our Buyer’s Agents Service is that Your Australian Property will continue to inspect, evaluate and negotiate on an unlimited number of properties within an agreed time-frame.

You’ll be impressed by our Buyer’s Agents in-depth knowledge of the Melbourne Property Market. Head over to our ‘Reviews’ page to read our clients stories and watch what our clients have to say about us.

HOW TO REACH US: Call us directly on 0418 144 644 or send us a message via our Enquiry Contact Form.

If you’ve wasted TIME and MONEY attending auctions for properties that went well above your price range and frustrated at dealing with time-wasting selling agents, talk to us today about our full Buyer Agents Service.

HOW TO REACH US: Call us directly on 0418 144 644 or send us a message via our Enquiry Contact Form.