As Banyule’s auction experts, Miles agents know that bidding confidently can make all the difference. Yet most buyers hesitate when it’s time to place the first bid. Our auctioneers see it every week — everyone waits, and silence fills the air.
The pros, like buyer’s advocates, don’t hold back. They know that starting early signals confidence and can put others on edge. The first bidder is often the successful one, and waiting too long or not bidding can backfire, especially when it comes to securing exclusive negotiation rights with the seller should the property pass in.
Our advice? Bid early, bid confidently and assertively, and understand if you need to extend yourself on the day, make sure you think clearly and realistically what that limit will be in advance. Show you’re serious to other buyers, and you might just secure your dream home!
Here are our top tips and observations from the Miles Auctioneering Team:
Elisse Farquhar
"Stand first and foremost in front of the auctioneer to be visible, stand confidently and don’t be intimidated by fast and furious bidding, even if not ‘on the market’, bid anyway to try to secure exclusive negotiations at the vendor's reserve price."
Gordon Hope
"Body language and emotions are important. Keep yourself composed and calm while bidding, don’t engage with anyone else, and don’t pause when it’s your turn to bid. Dress for success - this may sound silly but looking like you mean business will send a signal to your competition that your are serious."
Steward Oldmeadow
"Don’t be afraid to put in the first bid, this way you’ll quickly find out who your competition is. Don’t hesitate in between bids, it will show your competitors that you are serious. By hesitating it may indicate you are close to the limit of your budget."
Brad Pearce
“Best piece of advice I give is to portray an image that you are going to buy the property regardless of all other bidders, one way to do this is to set a price and if you need to discuss a new limit with a co-buyer then make it discrete and keep smiling so that the buyer you are competing with thinks that you are under no pressure.”
“The other one is to always bid past a round number, most people will set their limit at a round number, so even if your limit is the same round number, then be prepared to bid just past it. “
Leanne Bradford
“Watching the body language of the other bidders, putting their hand in their pockets or slumping their shoulders may indicate their close to or at the limit of their budget.”
“If the bidding is going back and forth at the same increment amounts, consider throwing in a knock out bid which can put off the competition and signal you have better capacity to out bid them.”
Mark Britt
“Stay relaxed and don’t try to compete directly with other bidders or try to to interact with them, just lock your focus on the auctioneer and interact with only them.”
David Blythe
“If you're short on time or lacking the confidence to execute your bidding strategies in a high- pressure environment, consider appointing a buyer's advocate. A buyer's advocate can be appointed on a one-time basis to bid on your behalf. Their experience to read the situation in real time and bid accordingly often provides a competitive advantage for buyers.”
Finally, if you are thinking of bidding, don’t keep this a secret from your agent. It’s a bonus if we know you’re a serious bidder and will be looking out for you on the day.
