House Actions Tactics
House Auctions Tactic 1: Dress to impress
Present yourself well – perhaps even wearing a suit – to create the perception that you have the money and budget to beat the competition.
House Auctions Tactic 2: Park a prestige car
Quiet cliche but If you have one or can borrow one, at the front of the property so that you can stand next to it and create the impression that you are ‘cashed up’ and have the funds to buy the property.
House Auctions tactic 3: Position
Position yourself towards the front of the auction near the auctioneer. This gives you a bird’s eye view of your competition so that you can see who you are bidding against.
House Auction tactic 4: Make yourself visible
Ask a question at the beginning of the auction to direct attention towards you – specifically one that may make other buyers hesitate. For example, has the body corporate raised any special levies? What about the development plans next door? Is the car park on title? These questions may unnerve inexperienced bidders.
House Auction tactic 5: Body language & Gestures
Keep your body language and gestures positive and confident at all times. Try to make direct eye contact with competing bidders with a confident ‘ice-cool’ stare.
House Auction tactic 6: Set your limit
Ensure you have a pre-auction limit and stick to it. There is no use getting emotional at an auction and overpaying by tens of millions of rands.
House Auction tactic 7: Question the agent
Question the agent as to how many contract requests and building reports have been commissioned. If it’s likely there will be a lot of competition, wait for someone to make a low bid before placing a higher one about R100,000–R200,000 below your estimated reserve price.
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