Veronica Morgan

And so you're sort of trying to apply a real objective lens to it

And then on the subjective side, you've got to look at, well, how uniquely does it suit your needs?

And how long are you likely to have to wait for something else that's going to suit your needs as well as this particular one?

So therefore, will you push yourself harder for this one than you would for something else?

And then lastly, of course, the other subjective pillar, if you like, or the corner of this is that you do have to look at your limit.

And that's subjective to you because it's your budget.

It's what you can afford.

And when you sort of consider those four elements, you really need to stress test that before you go to the auction, before you're under the pressure of an auction, before FOMO is rampaging on your brain.

You need to actually think, okay, a push come to shove.

What would I pay if I had to?

Because that's the price you need to have in your head.

You know, what price will I walk away from this property?

I know I won't want to, but what price will I?

If you have that in your head before you go to auction, you will be a lot better at bidding at auction and you will be more successful than if you go there with the limit being what you hope to pay for it.

I've seen some amazing, you know, mastery in this, you know, with some auctioneers that they role play and they practice and they do dialogue and they're like, you know, they're on autopilot when they're up there.

They know how to read a room.

A buyer is completely unmatched for that.

Nobody prepares to the same extent that an auctioneer does.

So I watch them.

And one of the things that they will do, for instance, is to make it look like it's going to be sold well before the reserve has been hit.