Is it better to have someone else do the bidding?

Anyone can put their hand in the air, right? So why hire a professional to bid at auction?

According to one such expert, it’s because buying real estate under the hammer is much more complex than simply bidding. It can also be a scary prospect for many people, especially for those who’ve never done it before.

Melbourne-based buyer’s advocate, Cate Bakos, says buying at auction requires carefully crunching data to settle on a limit, a clear auction day strategy, a cool head and even a bit of psychology.

And as with any other life skill, practice makes perfect, so experience matters.

So, she says, it makes good sense to hire someone who knows exactly what they’re doing.

Bakos says those who employ a professional to bid on their behalf generally fall into three categories – those afraid of public speaking, those who recognize they’re out of their depth and people who are time-poor.

“Why wouldn’t you hire a professional who does it several times a week? Who knows all the tricks of the trade and has the ability to get a result?” she asks.

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