MELBOURNE AUCTION PASSES IN with 2 BIDDERS in HOPPERS CROSSING

[@ianshi_auctioneer]

**UPDATE** After passing in at auction, 334 Morris Rd, Hoppers Crossing was retracted from the market. I'm told the owners were eventually open to accepting the offer, but it was too little too late.

[@dachee]

I will not be surprised if one of the 2 bidders is part of the auction team!

[@ianshi_auctioneer]

I’m told the other bidder was an investor from Sydney on the phone

[@dachee]

@ianshi_auctioneer Just curious from experience. In the past, I had an agent selling my property in Perth. He informed me that there were no interested buyer. And after a few months he informed me that he received an enquiry. The property was sold to this buyer at below market price. After the legal documents were signed, I noticed that this buyer was actually the owner of the property agency that was marketing my property! Buyers and sellers beware!

[@ianshi_auctioneer]

Hey man, that's definitely a weird thing to do, particularly if you were only made aware of this after all the documents were signed. In Vic, this would require a Section 55 exemption (you can look this up on Consumer Affairs Vic website). On the other hand, if the property was on the market for many months with no interested buyer, I'd be questioning what the real market price of the property is. When I advise sellers for their auction campaigns, I make it clear that buyers determine the market price. So, if there isn't any interest, then perhaps you've overvalued the property. However, an unlikely alternative situation could be that the agent withheld offers from you with the intention to buy it themself. Without knowing the situation, this is only speculation, but I hope this is helpful in some way.

[@Yolo942]

We live in a mad world. All this pomp and ceremonies to sell a house. And no one even there to buy

[@ianshi_auctioneer]

Sometimes the owners need to see that with their own eyes

[@U.s.e.r.3493]

Seems like vendors aren't meeting the market

[@ianshi_auctioneer]

Absolutely! I broke this down further in my vlog below 👇 THEY DIDN'T SELL BECAUSE OF $1000??!, Vendor Bid Strategies, Tough Decisions for Sellers | E017 kzbin.info/www/bejne/hnPKgmuHj9manpo

[@boomerwithatumor4624]

what a bunch of dribble

[@ianshi_auctioneer]

💯

[@R_Ali]

If he didn’t have instructions from the seller that the property is on market why was he pretending to call it 3 times at $730k Misleading

[@ianshi_auctioneer]

Calling it 3 times represents the closing of the auction. Before the property is announced ‘on the market’ this means we ‘pass in’ to the highest bidder. After the property is announced ‘on the market’ it means that on the final call it sells. Nothing misleading if you’re familiar with how auctions work.

[@myeverythingworld8123]

This tells me the end of the housing market is here it will get to a stage where no one will be able to afford a hoyse we are nearly there

[@VesperWR]

What comes up must come down. The supply will eventually overflow the market with how strict the government is now with immigration

[@paulsz6194]

You been watching a lot of Biko Konstantinos videos, haven’t you?

[@ianshi_auctioneer]

Haha good ole Biko spreading the love! I wouldn’t use a sample size of this singular auction to come to that conclusion. There are markets within markets and also market cycles

[@paulsz6194]

@@VesperWRreally, you call their "reduction " strict ? Permanent migration is only falling by 5000 people. Other figures that have been published, with predictions it may halve over two years . I don’t see a sharp collapse in property prices , but certainly allows more. Aussies to get their foot in the door..

[@paulsz6194]

@ianshi_auctioneer Exactly. I don’t take his so called " advice " as gospel either . A lot of his commentary is from watching other videos, with no real research. Like when he talks about NZ house price’s coming down, but fails to attribute it to Kiwi’s moving over to Australia & beyond … He breeds on Negativity.