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Bidding with Harcourts

Bidding with Harcourts

Auctions play a major role in how properties are sold in Australia so it is important to feel comfortable about bidding at auction.  

Here are some tips & FAQ's to help you through the auction process:

  • Don't stress: We conduct thousands of property auctions each year and can tell you that each one is different. Don’t get caught up in worrying about what will happen or how the bidding will unfold. Focus on what you are there to do - purchase a property. Be the first person to bid. Our experience shows us around 70% of people who open the bidding, buy the property.

  • Bid with confidence: More often than not, it is the bidder that bids with confidence and without hesitation that walks away with the keys to their new home. If someone else bids, come straight in with another bid. Show your competition that you're serious about the property.

  • Set yourself reasonable limits: If you're going to set yourself a limit make sure that it has flexibility. As strange as that may sound, too many times we see bidders miss out on their dream home for as little as $1000.

  • Don’t forget your ID: It is a requirement by law that you register for all auctions in QLD with proof of identification. To save time on auction day, you may register prior. Contact your agent for more details.

  • When a property is passed in: Most auctions we facilitate have conditional buyers (buyers that can’t bid under auction terms and conditions) waiting hoping that the property passes in. Should the property pass in, everyone will have equal opportunity to submit their offer.

  • Vendor bids: In QLD, the auctioneer is allowed to make 1 or more bids up to but not including the reserve price on behalf of the vendor. A vendor bid must be disclosed by the auctioneer. It is not the reserve price and does not indicate a price at which the vendor will accept. A vendor or seller bid is used in different circumstances to either start or increase the bidding.

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