Auction Bidding Techniques

September 16, 2019 0 By Luis Garrison

Peter Kelaher: Today, I’m going to give you
three auction bidding techniques that we use at PK Property, and that I’ve used
over the last 15 years to buy well over 1,000 properties. The first tip I’m going
to give you in regards to a good auction bidding strategy is to make sure that you
set a limit and you stick to it. Now, when I say that, you need to feel the auction.
If you’re going to get the property for an extra $10,000, $5,000, or $15,000,
and you’re that close, you might be best off actually spending that little bit more
so that you’re not back out searching again the next weekend, and it could take
you another six months. My second hot tip for bidding at auction is
just to make sure that when you are bidding, that you stand at the back of the
room so that you can see your competition. If you’ve got a situation where
you’ve got two people together, maybe husband and wife, and they’re looking
at each other and look as though they’re getting to their limit, it’s most
important to look at their body language. Their body language will maybe be looking
at each other, left and right, and saying no, we’re not going to bid anymore. That means
that you need to be forthright with your bidding. The third tip in regards to being forthright
with bidding that I just mentioned in the second tip, it’s most important that you
deliver your bids very quick, very fast, and very confidently, so that even if you’ve
only got $5,000 left, that it looks as though you’ve got $50,000 left. Good luck with your auction bidding, and if
you do need a hand at auction bidding, please feel free to give us a call
on 99-60-1066.