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Tips and tricks for buying Surfers Paradise property at auction

By Andrew Bell

Thinking about going to The Event and looking for your dream property? You'll have to work out what kind of bidder you want to be first. Quiet and measured, striking at the last minute? Or will you be a powerhouse from the moment bidding opens, aggressively outbidding everyone and scaring off the opposition?

Everyone's personality is going to match a specific bidding style for Surfers Paradise property, but these tips and tricks can help anyone get the most out of The Event.

Pick your spot carefully

Even if you don't like being the centre of attention, where you sit can have an impact on your performance. As Scott Smith, chief auctioneer at Ray White NSW told Domain, sitting at the back won't help you case.

"It's much better to take a position in the middle of the room where everyone can see you," he said. "I've seen a lot of people missing out at auctions, time and time again, hiding away at the back."

Front and centre, where everyone can see you, could be a key element of making yourself seen, heard and successful.

Don't give too much away

Remember that idle conversation you had in the lobby pre-auction where you talked about your pre-approval for a set amount? What if the person you were talking to ends up being your main competition at an auction?

We're not suggesting you be antisocial – but think about playing your hand as close to your chest as possible. The less your bidding competition knows about your limits, the better!

Get the lay of the land

If it's your first time buying property on the Gold Coast, you might not be familiar with the real estate landscape – which could cost you. You don't want to end up spending seven figures on a house, only to learn later that you've paid well above the suburb's median value for a run-of-the-mill property.

With a bit of research and perhaps help from a local Ray White Surfers Paradise agent, you can be far more confident in your bidding, knowing whether or not you're buying at market value.

Be loud, be clear

Nothing can betray your bidding confidence like poor vocal delivery. Be confident and clear when you state your bid. Stand up, make sure everyone knows you're the person making the bid.

Ever felt daunted when someone at an auction confidently steps up to the plate and outbids you? Take your opportunity to be that person, and showcase it in how you bid. 

Remember you don't have to go it alone 

Buying Surfers Paradise property at auction is exciting, but not everyone feels confident enough to be the centre of attention and take control of an auction. If you don't feel up to the task, that is absolutely fine – and someone else can do it for you.

It could be an agent working on your behalf, a family member, partner or even a friend. Don't be afraid to delegate the responsibility – you deserve to give yourself the best chance of succeeding at auction, and sometimes that means letting someone else drive. 

Stop at your limit

It could be advice on your self-managed super fund, or pre-approval from a lender – you should always know exactly what you can spend before you bid on Surfers Paradise real estate. Even more importantly, do not exceed your limit. You could be stung with fees for not being able to follow through with an auction, and you'll only be wasting your own time.

Remember: at The Event, there will be hundreds of properties for sale. One bidding war exceeding your limit isn't the end of the world, or even the end of the day. 

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