In NSW like many other states in Australia, buyers wishing to bid at a real estate auction must first register before being entitled to make a bid. At registration, the Agent will take the bidders details and need to sight suitable identification such as a Drivers Licence or Passport.
After taking the bidders details the Agent will then enter the details in a register and hand a bidding number to the bidder. A smart tip for a budding bidder is to take a quick look at the register as it is filled out by the Agent, you will often get an indication of how many bidders are registered before you. The Agent or their representative often fails to cover the previous listed registrants.
If the Agent is slack you will get a great insight into how many other bidders are seriously there to bid..
The key is to register as close to the commencement of the Auction and NOT early. Good luck to all auction bidders! Don't let the Agent influence your research or thoughts on price.
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Any questions, ring Dean Carver - Solicitor and Real Estate Strategist at Carver Lawyers. Phone (02) 9773 4550
