Scott Kennedy-Green says you need to educate yourself before bidding at auction.
Residential auctions are stressful situations at the best of times, and no-one knows this more than auctioneer Scott Kennedy-Green. Scott has been a residential real estate auctioneer for over 25 years including eight season appearances on Channel Nines ratings hit show “The Block” dating all the way back to 2003. During that time his vendors have received the top price on four occasions and also seen them win the show three times. So what does Scott say about bidding at auctions?
Scott’s mantra is “information is education”, meaning that you need to do your research to
a) know your market, value, and range of the property you are interested in,
b) understand any pitfalls that otherwise might not be apparent, and
c) align the property and locality to your preferred lifestyle.
The way in which you can do that is to use solutions such as Residz, a new property research platform being launched shortly which has invaluable data for every address in Australia. Scott is so impressed with Residz, he is assisting as an Industry Advisor.
To address what you need to know prior to auction, Scott suggests looking up the address in Residz and talking to your local agent. Residz will show you average values for the properties in that area, it will also show you relevant information pertaining to such things as bushfire, subsidence, crime trends, and Internet speeds. In regard to your preferred lifestyle, aspects such as school feeder zones and results, traffic flows, nearby amenities, and social conditions are all available. Having such useful information on your target property, and comparative properties, then enables you to bid with confidence.
It allows you to be well informed and even better educated.