Post auction negotiations. BUYERS BEWARE!

As almost 45% of all auctions in Melbourne are being passed in, this is dangerous territory for a buyer! This is where I receive many complaints about agents using some very bullish and intimidating tactics.

One must remember that an agent is there to squeeze every dollar out of the buyer, and once a property has been passed in, you as the highest bidder will be taken into a room in the house, the front door closed, and more often than not, you will pay the reserve price or something very close so you don't lose it!

Many buyers will bid at several properties, but very few will have the experience or nous to negotiate after it has been passed in!

I have seen many auctions being passed in at a certain figure, and then the buyer has gone in and paid an extra $30,000, $40,000 and sometimes more to secure it. 

Get the right independent advice, and get a professional negotiator on your side!