Finding a Melbourne Buyer’s Agent

Finding a Melbourne Buyer’s Agent

Regularly voted one of the best cities to live in the world, Melbourne continues to be a desirable location for those looking for their next home or investment. From the urban cool of Fitzroy and Brunswick to the seaside bliss of St Kilda, there’s plenty of options for every type of property buyer.

If you’re looking to purchase a property in Melbourne, partnering with a buyer’s agent (also known as a buyer’s advocate) is a great way to get ahead of the competition and increase your chances of buying your dream property. Buyer’s agents can bring with them a heap of advantages, particularly when it comes to buying property in areas that are experiencing unprecedented growth and popularity such as: 

  • Brighton 
  • Box Hill
  • Cheltenham 
  • Glen Waverley
  • Hampton
  • Mount Waverley

Here’s where to start when it comes to finding a Melbourne buyer’s agent 

Look for a Local Melbourne Buyer’s Agent 

Are you located in or near the Melbourne area? Or are you looking to purchase from a more remote location, maybe Sydney or Brisbane? Regardless of your location, selecting a buyer’s agent located in or around the Melbourne area can bring with it a number of benefits. Choosing a buyer’s agent that is positioned close by to your area of choice means that they will be able to easily carry out face to face inspections on your behalf and will likely have a lot of valuable local knowledge. For example, say you have your heart set on purchasing a property in Southbank, a local buyer’s agent will have useful on the ground relationships that can make the buying process even smoother.

But where should you start when finding a Melbourne buyer’s agent? 

When looking for a Melbourne buyer’s agent, our buyer’s agent directory allows you to search by suburb or postcode providing you with a summary of each listing including: 

  • Contact information 
  • Directions 
  • Reviews 

You can even search by the type of Melbourne property that you’re looking to buy, including residential, investment or commercial.

Look Outside the Melbourne Area For A Buyer’s Agent  

Seeing as we live in such an increasingly remote working environment, there may be no need for the buyer’s agent that you work with to be located in or around Melbourne. Inspections can be carried out virtually, relationships can be managed remotely and ultimately, if you have a buyer’s agent that you’re happy with, or that has been directly referred to you, then there’s no reason why you shouldn’t be able to achieve the same outcomes. Buyer’s agents can have contacts all over Australia, so give them the opportunity to demonstrate their value, regardless of their physical location. You’ll be pleasantly surprised at what they’re able to achieve on your behalf.  

Want to see which agents are closest to you? Use our Buyer’s Agent Directory to locate a nearby agent or search further afield across Australia. 

Becoming a Melbourne Buyer’s Agent

The Melbourne property market is incredibly exciting so if you’re looking to gain more expertise and potentially start purchasing property full-time or part-time, then becoming a buyer’s agent might be worth considering. 

You’ll have the opportunity to be your own boss, earn big and gain new skills in the process. Get in touch with our team today to learn more.

Finding a Sydney Buyer’s Agent

Finding a Sydney Buyer’s Agent

Sydney’s property market encompasses some of the most competitive and sought after properties in the world. From the sparkling harbour views of the Eastern Suburb’s to the urban ‘it’ factor of the Inner-West, there’s a property to satisfy everyone’s taste. Housing prices in Sydney continue to experience unprecedented growth and there’s a reason why so many buyers want a slice of the pie. 

If you’re looking to buy a property in Sydney, working with a buyer’s agent (also known as a buyer’s advocate) is a great way to give yourself a competitive advantage and get yourself closer to securing your dream property. Buyer’s agents bring with them a wealth of benefits and can help you get on the property ladder in highly sought after areas including:

  • Hornsby
  • Oatley
  • Summer Hill 
  • Waverton 
  • Jannali 
  • And more

Here’s where to start when it comes to finding a Sydney buyer’s agent. 

Start Locally With a Sydney Buyer’s Agent

Whether you’re living in or near Sydney, or are looking to purchase from outside the Sydney area, starting with a buyer’s agent located in or around Sydney can come with a number of advantages. If you choose a buyer’s agent in your area of choice, for example, selecting a buyer’s agent based in Sydney’s Northern Beaches, the chances are high that they will have a lot of valuable local knowledge and relationships. This can be incredibly beneficial when it comes to finding you the right property. They’ll also be able to easily carry out in person inspections with you or on your behalf and should also have lots of useful local contacts 

Use our buyer’s agent directory to search for buyer’s agents located in and around Sydney. You can search by suburb or postcode and will find a useful summary on each including:

  • Contact information 
  • Directions 
  • Reviews 

Take it even one step further and drill down by the type of Sydney property you’re looking to buy whether it’s residential, for investment purposes or something entirely else.

Look Further Afield For A Sydney Buyer’s Agent  

A buyer’s agent does not need to be located in or around Sydney in order for them to help you buy a property in Sydney. Many buyer’s agents have contacts all over Australia (and even further afield) so it’s going to be no hassle for them to source properties in your target area that are going to meet your criteria. So if there’s a buyer’s agent that you’re already working with and are happy with, stick with them. If you’ve had a referral or just want to deal with someone that’s close to you, no worries. A buyer’s agent can really work from anywhere – managing remote inspections on your behalf, finding the right specialists and more. 

Find your closest agent, or other agents located over Australia in our Buyer’s Agent Directory.

Becoming a Sydney Buyer’s Agent

If you’re looking to get more involved with the Sydney property market and take advantage of the huge amount of earning potential, then becoming a buyer’s agent might be your next step. 

Start a new adventure that is going to teach you new skills and challenge you to be the best that you can be. Get in touch with our team today to learn more. 

Finding a Buyer’s Agent Near Me

Buyer's agent

So you’re looking to find a buyer’s agent (also known as buyer’s advocate) to buy your next property. Well done on taking this step. With the property market being as competitive as it is, buyer’s agents offer a number of benefits which can help you get that step closer to securing your dream property.

So how can you find a buyer’s agent near you?

Start with our buyer’s agent directory 

We’ve done the hard work for you by creating a buyer’s agent directory that includes all the information you need on buyer’s agencies and agents across Australia. 

Here you’ll find a comprehensive profile for each buyer’s agency or agent including:

    • Address 
    • Contact information 
    • Opening hours 
    • Business profile 
    • Reviews 

Too easy! No need to waste any unnecessary time trying to search for this information across the web. 

Find a buyer’s agent based on your location 

Whether you’re looking to buy property in Gold Coast, Sydney or Perth, you can use the intuitive search interface to enter your state, city or postcode to generate a list of buyer’s agents that are in your area. 

A handy map will show you where each buyer’s agency is located in relation to the location you’ve inputted. 

Find a buyer’s agent based on your property type 

While you might be looking to work with a buyer’s agent that’s close by, you might also have some other criteria in mind for the type of property that you’re looking to buy. Some buyer’s agents are going to be specialists in buying residential property, while others might excel in commercial or industrial property. 

Use our buyer’s agent directory to narrow down your results, by searching for buyers agencies in your location of choice that can help with buying : 

    • Residential property for investment purposes 
    • Residential property for your primary residence 
    • Development sites 
    • Commercial property 
    • Industrial property 

You’ll be working with the right buyer’s agent and securing your dream property in no time! 

Speak to a local property specialist 

Chances are that there’s a local real estate agent that you’ve dealt with in the past, whether buying, renting or leasing a property, that can help point you towards a local buyer’s agent that can assist you. Or maybe there’s a conveyancer you trust that you’ve worked with a number of times. 

Referrals can be a great way to connect with a good quality partner. Keep in mind, you still need to do your research when it comes to choosing the right buyer’s agent

No luck finding a buyer’s agent nearby?  

Still can’t find what you’re looking for? Never fear, at the Buyer’s Agent Institute, we work with Australia’s best buyer’s agents and would be more than happy to point you in the right direction.  Or maybe you’ve started thinking about whether you might like to start buying property as a part time or full time career? 

Drop us a line and we’d be happy to have a chat.

Finding a Gold Coast Buyer’s Agent

Gold Coast Property

The property market in the Gold Coast is red hot. From Burleigh Heads to Tamborine Mountain, more and more investors are seeing the appeal of laid-back coastal living mixed with excellent investment return. There’s a reason why the Gold Coast currently has some of Australia’s highest average monthly rental prices.

Getting your foot in the door can be tricky and that’s why working with a buyer’s agent (also known as a buyer’s advocate) can be your pathway to successfully buying property in the Gold Coast. 

They’ll be able help you find property in some of the key growth areas including: 

  • Broadbeach 
  • Coolangatta
  • Mermaid Beach
  • Southport 
  • Surfer’s Paradise  
  • And more

Here’s where to start when it comes to finding a Gold Coast buyer’s agent.

Look Locally for a Gold Coast Buyer’s Agent 

Whether you’re based in or near the Gold Coast, or are looking to purchase remotely, starting with a buyer’s agent based in the area can be a good move. The advantages of this is that they will likely have a lot of local knowledge on different areas in the region, they will have relationships with key local contacts including real estate agents and surveyors and can carry out in person inspections on properties. 

Use our handy buyer’s agent directory to search for buyer’s agent in and around the Gold Coast. You can search by suburb or postcode and will find a useful summary on each including: 

  • Contact information 
  • Directions 
  • Reviews 

You can even take it one step further and filter down by the type of Gold Coast property you’re looking to buy whether it’s residential, for investment purposes or something entirely different.

Broaden Your Horizons to find a Gold Coast Buyer’s Agent  

Being local to the Gold Coast doesn’t need to be the determining factor when it comes to picking who you want to work with to buy Gold Coast property. Whether you have an existing relationship with a buyer’s agent outside the region, have had a referral from someone you trust or just want to work with someone close by, a buyer’s agent can work from any location to secure you the property of your dreams. 

Buyer’s agents have an extensive network of relationships that they rely on to source opportunities, so there’s every chance that they’ll be able to help you find what you’re looking for, from any location in Australia or beyond.

They’ll be able to manage remote inspections of Gold Coast properties for you, find the right local specialists and ensure a smooth process to help you secure your dream home. 

Our Buyer’s Agent Directory includes agent’s located all over Australia. 

Becoming a Gold Coast Buyer’s Agent

Regardless of your location, if you’re looking for an exciting new career change and are motivated to buy property in the Gold Coast, then becoming a buyer’s agent might be for you. 

You’ll find so much opportunity to achieve financial success, learn new skills, build invaluable relationships and so much more. 

Get in touch with our team today to learn more.

Best Free Resources to Use When Researching Property 

Knowing where to start when it comes to researching and buying a property can be a little daunting. That’s why we’ve compiled all the best free places that you can go to get information on market prices, trends and more to give you that competitive edge. 

It’s worth noting that some of this data requires expert analysis and that’s why we always recommend working with a buyer’s agent (also known as a buyer’s advocate) as they’ll be across the latest trends and be able to properly assess all the factors influencing the desirability of a property. 

Or become a buyer’s agent and transform yourself into a property expert. You’ll love it! 

Understanding the Market 

Here are some sites that you can use to get some broader data and insights into the overall nature of the market.

Australian Bureau of Statistics

The Australian Bureau of Statistics (ABS) provides a wealth of historical and statistical data that can be used to gain insights into changing demographics and key market trends 

CoreLogic 

CoreLogic is a great place to start when looking into buying a residential or commercial property. Here you’ll find expert reports and commentary to help with making more informed decisions. 

Used both by agents and consumers, CoreLogic offers a large array of free and paid reports to help with understanding the market at a macro level as well individual property information. 

Royal Bank of Australia

Each month the Royal Bank of Australia (RBA) provides a snapshot of Key Economic Indicators which you can use to interpret and speculate on where the market is at and going. 

SQM Research

SQM Research provides research and data which is useful to investors when making purchasing decisions. It includes free reports which encompasses everything from auction results to rental yields. 

There’s also the option to access premium solutions which include a property explorer, Boom & Bust report and more. 

Speak to an Expert 

If you’re not well versed in what some of these indicators mean, get in touch or seek out your local buyer’s agent for some expert opinion to give you more context and an interpretation on what these figures mean. 

Choosing the Right Suburb

Not sure which area you should start to look for your home or investment property in? 

Doing some research into a couple of key suburbs that are on your radar is highly recommended as this a good way to see what growth potential is in store. Plus, you may come across an area that you were previously not aware of. 

DSDR Data 

Use the handy suburb analyser that DSDR Data offers  to look at a numerical rating for your prospective suburbs. You’ll also find info on the nature of supply and demand in suburbs and other familiar statistics like auction clearance rates and days on market.

There are also a number of other useful tools available. 

Homely

Have a burning question about a suburb or want to see what others think about the area they live in? Homely offers extensive user generated feedback that you can interact with. 

Whether it’s a suburb review or a question in their forum, you’ll likely get the insider view. 

Microburbs

Microburbs offers information on the suburb of your prospective property that the listing most likely does not include. Get access to information on neighbourhood demographics, local schools, cafes, commute times and more. 

This can make a real difference, particularly, if you’ll be living in the property. For example, if you rely on public transport, you want to make sure that it’s readily available and that there’s local amenities in close proximity to the property. 

Tudi

Use Tudi to find the right suburbs with both an opportunity for growth and healthy a healthy rental return. It can also help you identify when it might be the best time to buy and sell. They offer both free and paid plans. 

Searching for Property 

There are a wide range of sites that you can use to start searching for property in Australia.

Start with these major players. A handy tip is to set up tailored alerts for each and you can also download their mobile applications for simplified use. 

Realestate.com.au 

Realestate.com.au is the biggest property site in Australia. Here you’ll find most property listings with lots of nifty filters to narrow down the type of property you’re after. 

Check out their free blogs for interesting news and content and you also get access to lots of free property data which comes from 3rd party suppliers . 

Domain.com.au 

Not far behind as the major source for property listings and information in Australia is Domain. Domain offers a sophisticated interface with plenty of listings and news for you to dive into. 

Finding the Right Buyer’s Agent 

You’re not going to find everything you need online. Whether it’s a property that’s just not listed or you simply just don’t have the time to be regularly trawling a heap of sites, you can rely on a buyer’s agent to take on the heavy lifting for you. 

Use our handy buyer’s agent directory to find a buyer’s agent that meets your requirements.

Got Your Own Suggestions? 

There are so many useful resources out there when it comes to property hunting, and these are only a small handful of what’s out there.

Do you have your own that you regularly use and find useful? 

Contact us and let us know what is working for you. 

How to Choose a Buyer’s Agent?

Womam at a laptop searching for a buyer's agent

Choosing the right buyer’s agents (also know as a buyer’s advocate) to help with purchasing property may seem overwhelming, particularly when faced with so many great specialists out in the marketplace. However, armed with the right information, selecting a buyer’s agent need not be impossible. 

Here’s our handy tips on what to consider when choosing a buyer’s agent to represent your best interests.

Start with location 

If you already have a location in mind for where you’re looking to buy, make sure that the buyer’s agent that you’re working with is comfortable with coverage of this area. You might like to start by searching for buyer’s agents that are local to this area, as it’s likely they’ll already have established many relationships with key contacts. 

Keep in mind, however, that physical distance is not necessarily a barrier for selection as there are many buyer’s agents that successfully work remotely.

At the end of the day, you want to make sure that the buyer’s agent you’re working with has in-depth knowledge of the locations you’re looking to buy in and the relationships to go with that.

Start by using the Buyer’s Agent Institute Directory to search by location and looking at the listing pages of agents to see what locations they specialise in. Too easy! 

What type of property are you looking to buy? 

Not all property is the same. The way that you buy residential property can be very different to the way that you go about finding and negotiating commercial premises. Make sure that the buyer’s agent you choose to work with has experience and knowledge in buying the type of property you’re looking to acquire. That way you’re likely to get the best possible outcome. 

You can search by property type using the Buyer’s Agent Institute Directory to find agents that specialise in: 

  • Residential property 
    • Primary residence 
    • Investment property  
  • Development sites 
  • Commercial property
  • Industrial property 

Reputation means everything 

When weighing up options for a product or service, reviews and word of mouth can be critical for helping us to decide which direction to move in. 

Do research online 

When researching a buyer’s agent make sure to look at their online presence to see what past or existing clients have to say about their service. This can be crucial for identifying any potential red flags. 

Speak with past clients 

Ask to not only speak with clients that were a success, but to also to speak with a client that didn’t go to plan. There should always be a client experience that was not so smooth.

Speak with real estate agents

You can do your research on a buyer’s agent by asking real estate agents in the local area you are looking to buy. You can ask what their experience has been working with the buyer’s agent you may be considering. Getting feedback from real estate agents can give you a deeper level of insight of how a particular buyer’s agent operates.

Listen out for referrals 

Even better is if a family member, friend or work colleague is able to make a direct recommendation to you. At the end of the day, you want to feel secure that the buyer’s agent you choose is committed to a high level of service and to delivering client outcomes. They’ll also want to ensure that you pass on the recommendations at the end of your buying journey. 

The Buyer’s Agent Institute Directory has taken out some of the hard work by consolidating online reviews for each buyer’s agent on individual agent listing pages. 

Make sure the price is right 

Price can be a major factor when buying property. There’s no doubt that using a buyer’s agent has its benefits. Working to a budget means that it’s important to find a buyer’s agent that meets your financial requirements. It’s up to you to do your research and find an agent with a fee structure that you’re comfortable with. You may even be able to negotiate based on a number of factors including the services provided. Maybe you only need the buyer’s agent to assist with certain parts of the buying process, as opposed to a full service offering.

Be upfront with your buyer’s agent and it’s likely you’ll be able to reach a mutually beneficial outcome suited to your needs. 

Trust your gut  

Ultimately, you need to feel confident and you need to feel good about the buyer’s agent that you’re working with. Nothing beats picking up the phone or having a coffee face to face with a prospective agent to get a sense for how you communicate and interact with each other.

If you don’t get a good feeling in your interactions, move on. There’s plenty of buyer’s agents out there that would love the opportunity to provide you great service and secure your dream property. 

Finding a buyer’s agent 

Now that you know some criteria to consider when choosing a buyer’s agent, you can go about finding one. Use our Agent Directory to find the right buyer’s agent for you.

A Passion for Property

Buyer's agent Rebecca Sims

After a career in property that has spanned nearly 20-years, shifting focus to helping home buyers was a natural progression for Rebecca Sims.

Rebecca started her real estate journey as a property manager, before spending a number of years working with developers and also in project marketing and sales management.

“When I left school, I started off in property management whilst studying at uni, and I ended up working for a developer and handled all of his property management.”

“From there I went over and worked in a project marketing company who also did property management and I headed up the investment division there and ended up turning their portfolio into something profitable and something sellable.”

“I ended up selling their portfolio for them with a great profit because we tidied it up. So through that, I think I learned a lot about property.”

After discovering first hand that there was no one out there helping buyers when she was looking to buy a number of properties of her own, Rebecca felt there might be an opportunity to pursue a career assisting buyers.

“I’ve always had in the back of my mind how much I would love to help buyers and put them into property.”

“Here on the Gold Coast there was nothing like that around and I think when I was looking myself for property personally, I found it really hard because I was such a busy professional, I had no-one to help me.”

Despite an extensive background working with investors and buying investment properties herself, Rebecca has found a passion for working with owner-occupiers.

“The majority of my purchases have been for owner-occupiers and I feel like at the moment that’s where the market is for me.”

“I do a lot work around northern New South Wales and that is because I am from that area. I’m actually from the Tweed Valley so I know the area very well. So when I get a client that wants to buy acreage or that rural lifestyle, I’m all over it. I love it so much.”

After starting her own business, Rebecca managed to build some momentum, but it was tough early on.

“I was fortunate at the beginning when I decided I was going to start the business.”

“I launched my website and the first broker that I met with, the very next day he sent me a client and that client was excellent. The client also referred business partners to me later down the track, so I was really fortunate in that regard. But after that one client, I struggled to get the next one.”

“I’m not going to sit here and say once you start it’s just smooth sailing, because that’s certainly not the case. You do have to keep going and there’s plenty of times where I thought this is just too hard. I’ve wanted to throw in the towel and all the rest of it – but every time I felt like that, within a matter of days something positive would come my way.”

Rebecca worked with Ben and BAI when she was establishing her business and the support network was incredibly beneficial.

“The course itself gives you a really great foundation for starting in this business, whether it be by yourself or going and working for somebody else. It’s something that you can constantly tap into.”

“But working with Ben himself, I just found him so supportive. He must spend all day talking to people. I think the thing is with him, and you can see it, is that he actually genuinely cares about the people that are coming through his business. He wants to genuinely see you succeed. So I think that’s really nice.”

Rebecca’s goal moving forward is to continue to grow her business organically and keep helping as many owner-occupiers as she can.

“In the future, I’d like the business to be bigger than what it is, but at the moment I’m after organic growth because I feel like that’s how I’m learning along the way as well.”

“In five years I just hope that it’s everything I hoped for and more. I’m enjoying what I’m doing at the moment, I really am. I love working in this area along the Coast and down into northern New South Wales especially so I want to keep doing that.”

Building Momentum

Buyer's Agent Michael Martin

Michael Martin started his property journey at a young age, but it has been a bumpy road to get to where he is today.

Michael wanted to use property to build wealth and set himself and his family up for the future. However, over his 20-year investing career has had both property wins and losses along the way.

“When I was 21, still living at home with my parents, I bought my first investment property. I was always a big saver so I had enough of a deposit to buy a property. So I just bought a property around the corner.”

“It was 160 grand. It was just a villa in a mixed suburb and that was getting $230 a week rent so it was cashflow positive. It was a good start.”

Instead of refinancing after the property increased in value, Michael made the unfortunate decision, to sell to help fund his PPOR. A mistake that he still regrets to this day. However, it taught him a valuable lesson, which was to never sell if you don’t have to.

From that point onward, he still wanted to keep investing and started to buy townhouses in and around Townsville.

“My wife and I purchased four houses in the outer Townsville area over a couple of years. Everything was ticking along nicely. The Townsville ones were all cashflow positive so it was all pretty good.”

“Then the GFC hit and I lost my job because I was a futures broker. It took me a few months to get another job at a 30% / 40% pay cut as well. Townsville was hit hard by the GFC, a lot of the mines shut down so I lost a lot of tenants.”

“I’d feel sick every time I got a phone call from a Queensland number because I was thinking, what’s happened now?”

“We ended up selling the three in Townsville. We were quite lucky. We sold them for pretty much the same price as we bought them for so we didn’t actually make a loss. However, it’s just a massive opportunity cost because I think they were about 200 grand each. So 200 grand, if you bought over the majority of the country over that ten-year period, it would have gone close to double. So we missed out big time there.”

That experience was a key turning point in his life as Michael realised that he needed to improve his understanding of what makes a quality investment and what really drives property markets.

During the period where he was researching property, he learnt about buyers agents and felt that it was something he would like to do himself, given his journey in property.

“I discovered Ben and BAI and I thought this is something that I could actually do. I already found my passion for property and I thought with all the mistakes I’ve made, I haven’t exactly got success stories with my past investing, although I had all the right intentions, just poor execution.”

“I felt like there are some pretty valuable lessons that I could I pass on to potential clients and now that I’ve heavily researched properly, I’ve got some good lessons to pass on and can help clients not make the mistakes that I’ve made.”

“So I did Ben’s course and then I built up a heap of contacts within the industry. And now I’m ticking along nicely. My business has been going for almost a year so I got my first client in about June / July after getting the licence in March and I’ve been getting one client a month so far.”

Michael now focuses on helping clients find high-quality investment property from around Australia.

The BAI program and the support network were vital for Michael when he was getting his business off the ground and suggests that people new to the industry understand that it takes time to build a successful business.

“Don’t set your expectations too high when you’re starting out. That might come across in the wrong way because you should always have high expectations of what you want to achieve, but it can be a bit of an emotional rollercoaster.”

“For the first three months or so I was making heaps of phone calls, trying to build relationships with referral partners and putting stuff out on social media and I was getting absolutely nothing back.”

“But then the more you do it, you slowly start getting traction so it’s just being patient and have expectations of getting no business for the first three to six months and then the traction starts after that is what I’ve found. So lower your own expectations in the short-term and then the long-term results will come.”

Tips for Winning an Auction

Property Auction

There’s no doubt that the property market can be a tough battle to enter. Particularly, when there’s a slew of other buyers with their eyes on the same prize as you. 

If you’re looking to buy a property to occupy or to use an investment property and it’s not available for private sale, then it’s essential that you arm yourself with the best strategies to ensure maximum success. 

With auctions being so emotionally charged, doing the necessary preparation and potentially working with a buyer’s agent (also known as a buyer’s advocate) will help to prevent you walking out of the auction having overpaid or missed out on a great buy. 

Here’s some tips to give you an edge next time you’re at an auction. 

Do Your Research 

If you’re going to be attending and bidding at an auction, it’s important to do your research on the market so you have some level of expectation before walking in. Start by looking at the clearance rates for the previous month so you can get a sense of what the level of interest from buyer’s is going to be. A clearance rate above 60% is going to indicate that the auction is likely to be more competitive. However, don’t let this deter you from still participating, as you never know what interest is going to be like on the day. 

While in the market to buy, try to get to as many auctions as you can (if you have the time, otherwise a buyer’s agent might be your best option), even if you’re not planning to bid, as these present are a fantastic opportunity to get a feel for the process and to learn what other bidders are doing. 

Know Your Strategy 

Going into an auction, it’s crucial to have a strategy for how you want to bid. Do you want to start proceedings off with a high bid or wait for the end of the auction once other bidders have shown their cards?

If you start the bidding off early with a low offer, you may offend the seller. Whilst this may not seem like a big deal at first, this could come back to hurt you when going into negotiations. Or you may want to start with a large bid that takes out much of the competition. However, this could reduce your chances of nabbing a bargain as you push the purchase price up. 

Many bidders at auction find success by coming into an auction during the second half once the bidding has calmed down. However, the risk that you could face is being too late to bid and missing the chance to submit your bid before the auctioneer has hit the gavel to confirm the sale. 

Ultimately, whether you’re planning to bid early or late, it’s important to bid with confidence so that other participants know that you mean business. This may be crucial in them deciding to bow out when it comes to a bidding war. 

Don’t Forget Your Budget 

It can be incredibly tough going into an auction if you’ve fallen deeply in love with the property you’re bidding on. Auctions are designed to generate the best possible outcome for the seller and auctioneers are experts at working the room to push the purchase price as high as possible. 

It’s so important that you go into an auction with a clear idea of what your budget is. Start by setting a budget for what you’re willing to spend, your ideal purchase price and an absolutely maximum budget. 

You need to be diligent in sticking to this maximum budget and not getting caught up in the adrenaline. Some suggestions for this is to: 

  • Enlist the help of a buyer’s agent or a friend that can attend the auction with you and keep you on the right path 
  • Write your budget down on your phone or on a piece paper and have it in front of you at the auction, so you have a reminder of that absolute maximum amount you’re willing to pay for the property  

Don’t forget that this won’t be the only property out there that you fall in love with and if you do miss out, there will be another property that comes along that meets your criteria. It’s better to wait for the right property that fits within your budget, then to overpay on a property that you can’t afford. 

It’s the Little Details 

The way you carry yourself and where you are positioned can be helpful in asserting your position at an auction. Dressing to impress and arriving in a luxury car, can give the impression of money and make other bidders more wary and intimidated of you. 

Where you choose to place yourself can be key to how visible you make yourself to other bidders and how easily you’re able to watch them. Arriving at the auction early, will ensure you’re able to choose the best location to place yourself. If it’s a seated auction, you might like to position yourself right at the front, showing other bidders that you’re a serious contender. However, you might also like to stand, to differentiate yourself from the rest of the crowd that are seated. 

Body language can be a key signifier of how a bidder is feeling, so looking for signs of weakness, such as long pauses and reluctant bidding, helps to establish when an opponent is likely to drop out. 

Consider Using a Buyer’s Agent

Taking in all of the above can be overwhelming, particularly if you’ve got a million other things going on in life, but then you also need to put into action. 

The experience that a buyer’s agent can bring to an auction could be what determines whether you nab that dream property or not. The market knowledge, expertise and emotional detachment from the property that a buyer’s agent has will be certain to work in your favour. 

Once you engage the services of a buyer’s agent, you just need to confirm with them a budget and they’ll sort out the rest for you. Say goodbye to that emotional temptation to go over budget. 

While buyer’s agents are not free, here’s some handy info on how much a buyer’s agent can cost, you’ll most likely make back the money you spend, on time and money saved.

Consider Becoming a Buyer’s Agent

If you really want to up your property game, then consider enrolling to become a buyer’s agent. The Buyer’s Agent Institute offers a comprehensive program that can be studied remotely and at your own pace, and will give you the skills and connections to really get your foot into the property market. 

Start with this free on-demand class or get in touch with the team for more information. 

Helping Clients and Buyer’s Agents

Buyer's agent Paul Mollica

Prior to starting out as a buyers agent, Paul Mollica had a long career helping others as a financial planner.

Over the years, the ability to help his clients achieve financial success through traditional superannuation investment strategies began to diminish and he realised he needed to help his clients do what he was already doing.

Paul had a 15-year record as a successful property investor and understood that property represented a better option for most people to build wealth.

“I spent the last 20 years as a financial planner and absolutely over time realised that it was failing consumers miserably. I thought there had to be a better way.

“I was starting to invest myself and see the benefits of that through leverage and the fact that you’ve got control over the asset, you can add sweat equity, you can manufacture improvements, all these sorts of things. I started talking to my clients about it and also looking at where my wealthier clients built or accumulated their wealth.“

“None of them accumulated it from the superannuation system or saving money, it was all through either business, buying and investing in property or inheriting property. So it was pretty easy to join the dots there.”

These days Paul operates, Wealthkey Property and uses a range of different strategies to assist investors to build wealth, including looking for positive cashflow opportunities outside of metro areas, adding value through renovation while also buying in blue-chip locations, if it suits the individual. Paul is also able to help project manage any properties that are using strategies such as a cosmetic renovation to provide a full end-to-end service.

Over the past few years, Paul has transitioned out of financial planning and into a full-time buyers agent. A move that was helped by his prior relationships with both clients and referral partners.

“I was operating the BA business part-time for the last six years and then last June I jumped out of planning completely and I only do property buying for clients now. I’ve got two staff, we’ve got acquisitions teams everywhere we need them nationally and it’s going really well.”

“With my financial knowledge both inside and outside of super and mortgage broking and also my contacts over the years. I’ve got a fairly healthy referral stream coming through.”

While his transition to fulltime buyers agent has been relatively smooth, Paul found that one of the areas that were lacking was data and research. After initially looking to outsource, he found that he needed to bring the process in-house to get the best result for his clients.

“There was no-one out there that could provide that data and research service. You’ve got get the real-time data but you’ve also got to have eyes and ears on the ground as well and someone to translate that data otherwise you might as well just go and buy a property investor magazine.”

“Because of this problem I started my own service called Right House Research, cherry-picking perfect properties for investors and that’s an exclusive research service for other buyer’s agents. If we can continue to help a number of those every month as well, I think we’re doing a good thing for the buyer’s agent community and for consumers in general.”

Going forward, Paul’s goal is to continue to grow the business, while also adding value to the buyer’s agent community.

“If we can continue to help 50 to 70 families a year to make well-informed buying decisions and if I can put possibly one or two buyer’s agents on under our licence and help and grow Right House, then I think that will benefit a lot of people.”