In this episode of the First Property Buyer Show, host Emilie Lauer chats with Melbourne-based auctioneer Andy Reid to break down the auction process, sharing practical strategies for first-time buyers to secure their dream home.

Recognising that auctions can be daunting for newcomers, Andy demystifies the process with a “101” approach that covers everything from preparation to state-specific nuances.

The duo acknowledges the emotional intensity of auctions and recommends reducing stress through thorough preparation, setting a clear budget, visualising the first moments, and plenty of practice.

Given the popularity of auctions in Australia, Andy urges first-time buyers to observe as many auctions as possible to become familiar with the format and atmosphere.

For successful bidding, he highlights the importance of confidence – speed, volume, and tone can intimidate other bidders – and suggests challenging increments to gain an edge.

He also reminds buyers that winning an auction means acting fast, with an immediate deposit and contract signing, so being sure of their decision is crucial.

Andy wraps up by encouraging buyers to ask questions and seek guidance, underscoring the need to enjoy this exciting milestone in their home ownership journey.