Buyer's Agent Tips for Buying at Auction - Part 1

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In Episode 27 of this podcast, Bryce and Ben share some of their tips for buying at auction in Australia. This video explains some of these auction tips further. Here’s a snippet of the video:
I find that lots of buyers are really reluctant to go to auction and to be honest, for good reasons because it is largely a process that favors the seller and of course, the auctioneer. But here’s five tips that I can give you to help you better prepare for when you’re buying your next property at auction.
The first one is quite simple, attend auctions and loads of them because it’s here that you can understand how the market’s activity is like. You are going to see how many bidders are at each property and generally speaking, there are usually two or three bidders on average at a property. But if you are seeing only one, that probably means that there are not a lot of demand in that particular area for a comparable property. On the flip side, if you are seeing 5 - 7 bidders that means loads of people are interested and that’s going to push the demand up. That may also have an impact on the property that you are looking to buy. So you can actually get a really good sense on the market’s activity.
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