Buying at auction can be one of the most stressful and high-pressure ways to secure a property. Emotions run high, competition is fierce, and without a clear strategy, it’s easy to overpay or miss out altogether.
At Wise Real Estate Advice, our Property Auction Bidding Service in Melbourne is designed to take that pressure off you — ensuring you buy with confidence, clarity, and a clear plan.
We don’t just show up on auction day. We manage the entire lead-up to the auction, guiding you through each step so you’re fully informed, thoroughly prepared, and strategically positioned to achieve the best possible result. This includes property inspection, comprehensive due diligence, an independent price appraisal, a tailored auction bidding strategy, professional representation on auction day, and post-auction negotiation if the property passes in.
We personally inspect the property on your behalf, identifying any potential issues that may not be obvious at first glance. This includes layout, condition, location factors, and anything that could impact value or future resale.
We conduct thorough due diligence so you understand exactly what you’re buying. This includes reviewing comparable sales, assessing market conditions, and identifying any risks that could affect your decision.
You’ll receive a detailed, unbiased appraisal of the property’s true market value — not just the agent’s price guide. This ensures you know what the property is actually worth before you step into the auction.
We create a tailored bidding plan designed to give you a competitive edge. This includes:
On auction day, we represent you professionally and confidently.
Bidding at auction is as much about strategy as it is about price. We remove emotion from the process and execute a disciplined approach to secure the property at the right price — not just any price.
If the property is passed in, this is often where the real opportunity begins.
We handle all post-auction negotiations on your behalf, using our market knowledge and experience to secure the best possible outcome. Many buyers overpay at this stage due to pressure — we ensure you don’t.
Not every auction results in a purchase — and that’s okay. If we miss out, we review what happened, adjust our strategy, and move quickly onto the next suitable property. Importantly, our fixed fee means you can continue the search without worrying about extra costs.
With extensive experience across Melbourne’s auction market, we understand how agents operate, how buyers behave, and how to position you to win.
Whether you’re a home buyer or investor, our goal is simple — secure the right property, at the right price, with minimal stress. If you’re considering buying at auction, don’t go in unprepared.
Contact Wise Real Estate Advice today to discuss how our Property Auction Bidding Service in Melbourne can help you secure your next property with confidence.
The sale takes place at the time the successful bidder signs a legally binding contract and pays a negotiated deposit for the property. This is known as ‘Exchange of contracts.’
There is no law stating that a 10% deposit is required. Rather, a negotiated amount between the seller and buyer. Property law does state that a deposit must be something of value, usually currency but could be anything the seller accepts, for instance, an expensive watch, a car or painting.
This is usually up to the seller and their representative the real estate agent. There is a great change of a private negotiation if the auction campaign has been slow. Hence a high chance of a pre-auction offer being accepted.
A buyer’s agent prefers to operate in this type of scenario as it favours their clients offer by reducing the competition – otherwise known as a private negotiation.
This issue is one of the biggest problems in real estate and unfortunately real estate agents leverage this advantage.
Why is it so hard to set a price? No two properties are the same hence their price can vary. Sometimes a little but most of the times, a lot. Factors like school zones, land size, quality of interior finishing and size of floor plan need to be taken into consideration.
In 2017 the state government made efforts to establish laws and stop agents from underquoting, it’s still very common for properties to sell well above their quoted price. More information on under quoting.
At Wise Real Estate Advice, our buyer’s agents give clients a detailed market appraisal based on similar sales that have been made within the last 6 months. The price will factor in the market value and what the property should sell for under certain auction conditions.
“I will only accept rises of $20,000 or larger” typically means that there is a long way to go before reaching the property’s reserve.
“First call…Second call” If this is called before meeting a reserve then the auctioneer is often trying to induce more bids after a slow period. If said after reaching the reserve, it’s go time- bid now or forever hold your peace.
“Ladies and gentleman, please wait here for a moment while I refer the bid” often means that bidding has slowed and the reserve is a long way off. The auctioneer will try to explain the situation and ask the vendor to lower their reserve.
“We are playing for keeps” typically signals the reserve has been met and the house will sell to the highest bidder.
“Vendor bid” is used as an offer from the vendor. Vendor bids are used at the start of an auction if no other offers are presented, or after a slow down to rebuild interest.
“I’m confident the property will sell at auction today” usually means one of two things. Either the reserve has been met, or a lucrative offer has been presented before the auction with the potential buyers in attendance.
“Last chance” The house will be passed in if the reserve hasn’t been met, or will sell if it has.
“I will accept raises of $1000” bidding has slowed and the reserve has been met or isn’t far off.
“There’s real value here” Interest is low and the auctioneer needs to induce bids.
“This property will be sold today”, a regularly used ploy to try and create bids when a reserve has not been met; however, it could also mean that the reserve has been and that the house is on the market.
The reason why sellers and real estate agents love auctions is because the result is final, in other words ‘unconditional’. This means the responsibility falls on the buyer if:
If for whatever reason you choose to not proceed with the sale, at minimum you will lose your initial deposit. The worst-case-scenario would be the seller suing you for further loss or damages.
An auctioneer can make as many bids as they seem necessary to push buyers above the vendor’s disclosed reserve price. At Wise Real Estate Advice, our buyer’s agents frequently negotiate below a vendor bid if it’s deemed to be unreasonable.
It’s illegal for a real estate agent to accept two commissions when selling one property. The real estate agent is paid exclusively by the seller to advertise and sell the property, hence there is no need for a buyer to pay the agent.
If the buyer chooses to engage a professional bidder or buyer’s agent to represent them at action, then the pre-arranged fee is settled upon prior to the auction. More information on buyers agents fees.
At every property auction in Melbourne, the auctioneer usually takes a pause during a live auction to consult the vendor. This is to discuss if the pre-auction reserve has been satisfied. At this point, if the vendor gives the agent the green light, the property is on the market and the highest bid thereafter will purchase the property.
There is no law stating that a 10% deposit is required. Rather, a negotiated amount between the seller and buyer. Property law does state that a deposit must be something of value, usually currency but could be anything the seller accepts, for instance, an expensive watch, a car or painting.
