REALas Australia’s most accurate property price predictions
REALas Australia’s most accurate property price predictions

Odd Winning Bid Strategy

Odd Winning Bid Strategy
September 17, 2015 Josh Rowe

Over 99% of homes sold last month had a final sale price where the last digit was a big fat zero “0”.

When you’re playing for keeps you need to use every psychological tool in your kit bag to secure the winning bid, including the challenge of mathematics.  Have your bidding strategy planned out in advance.

Don’t be the home buyer who makes it easy for the auctioneer or real estate agent to accept your round numbered bids.  The same principle applies to auctions and private sales.  You are in the drivers seat.

Make it hard for real estate agents to add your bids up.  Make it tricky for the other home buyers which are vying for the same property as you.

Here are some examples from the less than 1% of properties sold last month that did have a non-zero last digit in the final sale price.

  • Did the home buyer of a home in Tallebudgera Valley oust another buyer with a 1 dollar winning bid?
  • Was the new owner of a Blackwood property find their final bid as simple as, do re mi?
  • Could a 50th birthday celebration be on the cards for the purchaser of a Bellamack house?
  • Has the British Secret Service acquired a new hide out in Bassendean?
  • Lucky 888 may have played a part in the Essendon sale.

 

Street Suburb State Agent quote – low Agent quote – high Sold Price realAs Predicts Sold Price vs realAs.com Sold Price vs Agent quote – low Sold Price vs Agent quote – high
50 Goolaba Dr Tallebudgera Valley QLD $489,000 $539,000 $539,001 $516,000 4.5% 10.2% 0.0%
14 McDonald Ave Blackwood SA $490,000 $520,000 $495,152 $513,000 3.5% 1.1% 4.8%
31 Staff Rd Unanderra NSW $410,000 $460,000 $441,123 $442,000 0.2% 7.6% 4.1%
184 Flynn Circuit Bellamack NT $685,000 $680,065 $675,000 0.8% 0.7%
20 Crawford Rd Penguin TAS $436,000 $431,327 $420,000 2.7% 1.1%
55 Prospector Loop Bassendean WA $590,000 $640,000 $590,007 $616,000 4.2% 0.0% 7.8%
88 Napier Cres Essendon VIC $950,000 $1,045,000 $1,150,088 $1,163,000 1.1% 21.1% 10.1%
12 Candlebark Cl Nicholls ACT $615,000 $655,000 $649,999 $628,000 3.5% 5.7% 0.8%

 

 

 

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    The views and opinions expressed in this communication are those of the author and may not necessarily state or reflect those of REALas.