Buying

1. Spend time doing the prep. Preparation is key when it comes to buying at auction. That means doing due diligence on the property you’re wanting to buy. Make sure you do your research. Get your builders through and make sure you have a solid understanding about the property you’re looking to purchase. 

2. Choose your racing partner. Don’t try to play the auction game on your own. Build rapport with an agent you trust, someone who understands what you are looking for in a property. 

3. Make a plan for on the day. Sit down with your agent and work out a plan for auction day. Be open, honest and upfront with your agent. Don’t hold back information. Remember, you and your agent are on the same team. Work together and you’ll have a greater chance at getting the result you, both, want. 

4. Leave emotion for the finish line  It’s easier said than done, particularly when you’re bidding at auction on your dream home, but leave emotion for the end. By removing the emotion, you can bid more confidently, and by sticking to your game plan, you and your agent know what’s happening on the day.  

5. Observe other races  If you’re serious about winning, you don’t want to leave anything to chance. If you haven’t bid at auction before, observe a few before you participate. Lugtons hold auctions every Wednesday at 12pm. You can view them online and you might even see me at the podium calling out a bid or two!