Mobiles are ubiquitous in modern life, so it\u2019s not unusual to see someone bidding at an auction on one. <\/strong><\/p>\n But how exactly do would-be buyers bid over the phone?<\/p>\n David Holmes, LJ Hooker\u2019s national auction manager, says while it\u2019s \u201calways preferable\u201d to bid at auctions in person, if it\u2019s impossible due to geography, work commitments or even nerves, phone bidding is a viable alternative.<\/p>\n Bidding over the phone is now commonplace. Picture: Getty<\/p>\n<\/div>\n He says the practice is now commonplace in the industry, but not necessarily growing in popularity.<\/p>\n Holmes explains the ins and outs of bidding over the blower.<\/p>\n First, check it\u2019s even an option.<\/p>\n Before auction day, ensure the vendor, agent and auctioneer are comfortable with taking bids over the phone, he says, as it\u2019s not a given it\u2019s available.<\/p>\n Next, think about paperwork.<\/p>\n In most states and territories, all bidders must register and extra paperwork may be required for phone bidders, Holmes says.<\/p>\n \u201cWe ask bidders to sign a form nominating a stand-in to bid on their behalf prior to the auction, normally it\u2019s a trusted friend,\u201d he says.<\/p>\n It\u2019s also possible to nominate an agent, he adds.<\/p>\n When it comes to the mechanics of bidding, a phone bidder is treated like any other, Holmes explains.<\/p>\n Holmes says the person at the auction should clearly and consistently explain what\u2019s happening with bidding to the buyer on the other end.<\/p>\n \u201cThere can be noise in the background, environmental elements like wind can come into play, it may be a vendor bid the person on the other end hears, not a bid from the crowd and so on, so it\u2019s vital to communicate clearly,\u201d Holmes says.<\/p>\n \u201cYou really need to be confident in the person who is doing the bidding for you. It\u2019s a huge responsibility,\u201d he says.<\/p>\n For many shy buyers the nature of phone bidding may well appear to be less\u00a0daunting, according to buyers\u2019 advocate Cate Bakos.<\/span><\/p>\n \u201cThe mere idea of an auctioneer with a gavel screaming at you in a crowd makes many buyers feel weak at the knees. There is a comfort for many in the anonymity of phone bidding,\u201d Bakos says.<\/span><\/p>\n The downside to phone bidding is not being able to read the competition\u2019s body language and the real-time dynamics of the auction, which can be vital to securing a property at auction, Holmes says.<\/p>\n The fact that buyers bidding over the phone cannot see their rivals can work against them, Bakos agrees.<\/span><\/p>\n \u201cThere is more to bidding than just increasing the last bid. Reading the buyers, changing your (bid) increments, altering the volume of your voice and the pace of your next bid and being able to reposition yourself to see eye to eye with your rival bidder are some of the tactics only a person who was physically there could exercise.<\/p>\n \u201cIt is the correct combination of these moves which can make the difference between a rival bidder giving up and a rival bidder stretching their limit.\u201d<\/p>\n Realestate au <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"![\"auction](\"https:\/\/i0.wp.com\/www.realestate.com.au\/blog\/wp-content\/uploads\/2017\/10\/25172445\/auction-bidding-phone_800x600.jpg?resize=800%2C600&ssl=1\")
<\/p>\nHow do you bid via phone?<\/span><\/h2>\n
Bidding by phone best suits buyers who are:<\/h2>\n
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What are the upsides of bidding for a property via phone?<\/span><\/h2>\n
And the downsides?<\/h2>\n
Tips for bidding at auction via phone<\/h2>\n
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