Tips From A Good Scottsdale Real Estate Agent: Making An Auction Game Plan

Jennifer Wehner

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A professional Scottsdale real estate agent will agree that the auction day is both exciting and nerve wracking for a buyer who thinks he has already found his perfect property. Things can happen pretty quickly at auction so buyers must be ready and prepare a plan so he can always be cool even under pressure. The right game plan for this day includes some tactics which allow home buyers to stamp their authority on the event and leave a positive impression. In order to make sure that you get things right on auction day, consider the tips below.

Conduct Research on Comparable Sales

Prior to buying a house, you need to do your homework. Go to a lot of auctions, follow the homes for sale and have a good feel for the property market over some months. It can be too much to pay 5 percent more than what you have to. But consider the extra weeks to pay off such extra amount on your house loan. It makes sense to study prices recently sold in your desired area and get as much information as possible about the market. Get the help of your Scottsdale real estate agent for this.

Do your Due Diligence

Always read the sale contract before the auction day and make sure that you ask whatever questions you have in mind before the big day. Perhaps you will want to request extended settlement terms or pay a smaller deposit. But such information must be pre-arranged with the Scottsdale real estate agent ahead of time.

Set an Uneven Number Budget Before the Auction

A pre-determined bidding limit must be set while you are rational, calm and capable of identifying a realistic number. Also, ensure that you stick to this budget. Consider this limit and think of an unrounded figure. If possible, make a $503,000 limit. Other home buyers will think based on round numbers and you are likely to have an edge over these buyers.

Be at the Front

This allows you to have a good view of the auctioneer and the competition. You need to be visible at auction and always ask questions when the auction starts. Let everyone see you are there and ready to participate. Show your confidence and experience. Make sure you can see other bidders and follow their body language.

Additionally, greet every Scottsdale real estate agent by name and refer him and the auctioneer by name as the auction process starts. With this, you will be able to show to other bidders your seriousness as a contender.

Begin with a Strong First Bid

Make sure you participate in early and take part in the action. Begin exerting some influence over the auction’s conduct. In case you are the only bidder, then you have no problem at all.

Cite the Complete Bids Instead of the Bid Increment

It makes sense to call out $651,000 rather than $1,000 so that other bidders will have an idea of what they are paying. Make sure you fully cite the bids, confidently and clearly.

Contact SCOTTSDALE REAL ESTATE AGENT Jen Wehner today at 480-748-6925 or Jennifer@JenniferWehner.com if you want to see more Scottsdale homes for sale and properties.