It can be easy to get caught up in the moment when the auction is in full swing, so it’s important that you set yourself some limits and goals.
- Consider your top bid while you’re in a calm and rational state of mind and stick to it.
- Stand right at the front with a good view of the crowd and auctioneer – ask a question right at the start to show you mean business.
- Start with a strong bid, then increase by smaller increments.
- Record the bids so you don’t lose track.
- Keep calm and be aware of your body language – give the impression you know what you’re doing.
- If you don’t trust your emotion, consider employing a buyer’s agent to bid for you.
Private sale treaty
A private sale has no specified closing date and is usually negotiated between a buyer and vendor with the assistance of an agent or legal representative.
Expressions of interest
Similar to a private sale /treaty expect that a formal written offer is submitted for the property by a specific date.