A pair of Sydney homebuyers have learned a clever tactic to beat a crowded field of bidders. How they did it 👇
Winning bidders Matthew Ward and Elissa Whitford, with son Quinn. Picture: Sam Ruttyn
The property on Kooranga Pl sold for $1.78m to a first homebuyer couple who beat a crowded field of 34 other bidders, a level of competition thatAgent Sarah Sibtain, who sold the home with Saliba Estate Agents director Josh Saliba, said most of the bidders were first-time buyers.“It was a good location and a good entry point into the market, but this kind of interest isn’t normal,” she said, noting that the price guide was increased three times prior to the auction.
“Our strategy for this was to lay back, let people run up the price, tire themselves out, and then come in aggressively and act like we didn’t have a ceiling.” Auctioneer Faddi Hajjar of Scerri Auctions said it was an “incredible” bidder turnout and attributed the strong interest to high demand for properties priced at $1m-$1.5m.“There are plenty of buyers in the market when it’s entry level properties in a good location. That’s where you have the biggest buyer pool,” Mr Hajjar said.He said some bidders were hoping to get the government’s First Home Choice scheme before it expired at the end of the month.
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