Buying at auction can be nerve-wracking, so knowing how to read other bidders can be a big asset. Rich Harvey, buyers’ advocate and CEO of propertybuyer.com.au, says before auction day, buyers should do their research and prepare well.
“The first thing buyers need to do is do research about the property they’re thinking of buying,” he says.
“Look at the most recent comparable sales data to get an understanding of what the ballpark sale figure will be. Talk to the agent, but understand the range quoted may be over or under, or bang on. You need to do your own research,” Harvey says. The next task is ensuring finance is in place, he adds.