Episode #60 Auctions – The Inside Scoop

Welcome to another edition of the Propertybuyer Podcast and today you are in for a real treat! We will be discussing the inside secrets about property auctions and unpack the mystery of the auction process.  Now many listening to this podcast might have recently missed out at auction. With the severe shortage of listings, we are seeing auction clearance rates running around 75% to almost 80%. This clearance level is reminiscent of the boom auction times we saw during the covid period.

 

Buying a property at auction can be an emotionally charged process where your adrenalin runs high, and mouth goes dry. You’ve got your finances ready and registered for auction day and have your bidding card ready in hand and …..bang the auction starts and the property is on the market. But then another bidder starts at a figure close to your maximum limit and you feel worried and anxious. You make a bid, but get quickly outbid – you try to maintain a poker face – but your furrowed brow shows the strain on your face and pressure you feel inside. You make another bid and the process continues toward an unknown outcome. Well to get the inside scoop on the auction process today we have one of the best and most award auctioneers in Australia today – Damien Cooley, Managing Director of Cooley Auctions.  Welcome Damien!

Thought of the week:

“Life is what happens to you while you’re busy making other plans”. –John Lennon

 

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