.Auction advice for property buyers from Your Australian Property
When Your Australian Property Buyers Agents was bidding for a client at auction in the Melbourne suburb of Kew the auctioneer was holding court and three of his colleagues were placed among the bidders to assist buyers in attendance, as often happens.
From the buyers perspective is this a good or bad thing?
Should a Buyer take advice from a selling agent? Hopefully the auctioneer can answer all relevant questions prior to the auction commencing. In an ideal world Buyers should be able to bid in an open and transparent auction process.
In actual fact what happened was that all of the selling agents isolated the Buyers who were bidding and urged them to bid higher and higher as the auction progressed.
Despite the selling agents’ best efforts, two Buyers knew they’d reached their limit and withdrew from bidding. The third, a young couple, were then pressured to reconsider their limit multiple times by the oldest and most experienced selling agent in attendance, who happened to be the auctioneer’s father.
As an experienced Buyer’s Agent and licenced real estate agent with over 30 years’ experience, I have placed bids at many of auctions for my clients. I sensed that these young buyers were quite stressed, making hurried calculations, struggling to decide and ultimately bidding as they were pressed to do.
Outbidding me they purchased the property, paying quite a high price for the property and one that we were not prepared to pay on behalf of our clients as independent and professional Buyer’s Agents and having done thorough property research and due diligence.
So Buyers, remember the Selling Agent works for the Seller not for you. The more you pay for the $purchase price, generally the more they get paid and the happier their vendor is, generating more referrals for them. Selling Agents don’t work for or represent you. They don’t care if the bank won’t value the property at the purchase price and you have a lending shortfall. They don’t care if you extend yourselves and can’t go out to dinner or have a holiday once you move in.
Please consider using a reputable, independent Buyers Agent. They should have vast experience in the Real Estate Industry and be a Licenced Real Estate Agent. You pay them for their advice and representation and they have a duty of care to you, not the Vendor/Seller of the property.
Your Australian Property Buyers Agents offers people about to buy a property a free, no obligation consultation. We provide advice and tips on buying well and not overpaying for real estate.
For independent advice on buying or investing in real estate, contact Zac Newbold, Director at Your Australian Property Buyers Agents on 1300 998 688 or +61 3 8899 6327.
Your Australian Property Buyers Agents lives and breathes property and knows the Melbourne Property Market! We at Your Australian Property Buyers Agents offer comprehensive end-to-end support from identifying and analysing your selected properties to dealing with selling agents, attending property inspections, purchase negotiations and / or auction bidding on your behalf.
Our Independent Buyer’s Agents in Melbourne, will take the time to understand your situation and work out what your individual needs, specific requirements and property goals are, so we can begin searching for your next property.
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Your Australian Property Buyers Agents is a five-star rated independent boutique Buyer’s Agency in Melbourne. Our success comes from prioritising our clients' unique needs first and consistently delivering exceptional results. We promise to be responsive and to truly listen to what our clients need. We're surrounded by noise in the property market – Our goal is to cut through it.
From the CBD to Melbourne’s outer suburbs, Your Australian Property Buyers Agents helps Melbourne home buyers and property investors secure the right property with independent advice, proven strategy and expert negotiation.
We don’t sell property. We don’t answer to developers. We work for you and only you.
With over 30 years of real estate industry expertise, we know what it takes to buy property seamlessly. Patience is key, but never at the compromise of confidence and our clients’ end game. We’re professional in every facet of our work, dealing with our clients with the utmost integrity and honesty.
When clients engage Your Australian Property Buyers Agents, they can expect Buyer’s Agents that are proactive and passionate. Combining a hard work ethic with passion and attention to detail, we help clients achieve their property goals with ease.
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