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March 17, 2024 14 mins
  • What Happens if you’re the only Person Bidding at an Auction? Alec Brown, Sales Director and award-winning auctioneer at Ray White provides the answer
  • The Showroom Canberra was an extravaganza of home design, build, garden & lifestyle inspiration. Nick Pieper, Event Manager chatted to Cam and Renee about everything that was on display at this year’s event
  • Jeir Creek Winery was recently listed. Frank Warmsly, Director at Auction Advantage called in and spoke about everything that’s included in the sale

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Episode Transcript

Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:01):
Cameron Rene's Real Estate show.

Speaker 2 (00:03):
Sounds like camera, sounds like Mixed one A six point three.

Speaker 3 (00:06):
JW Land introducing homes of uncompromising quality across premium locations.

Speaker 4 (00:12):
Hi.

Speaker 2 (00:12):
There, it's Cameron Renee.

Speaker 3 (00:13):
Here. Each week on Mixed one and six point three
we present the Mixed Oney six point three Real Estate Show.

Speaker 1 (00:18):
We speak with industry experts, leaders in Canbra property, national
analysts and Arrange Above property specialists.

Speaker 3 (00:25):
So let's take a listen to some of the things
we looked at in last Saturday show. In the meantime, though, Cam,
we recently spoke with award winning auctioneer Alec Brown about
auction price guys, and so we're going to speak to
him again this morning about what happens if you're the
only person bidding at an auction. I had a friend
who was selling their property via auction just recently and

(00:48):
they found themselves in this boat. They actually ended up
only having one registered bidder. So it was really interesting
to try and find out. And I want to learn
more now about what happens in that situation. And so
Alec Brown, sales director and award winning auctioneer at Ray White,
joins us again.

Speaker 5 (01:04):
Hey, Eleck wedding rag I cam Happy Saturday.

Speaker 3 (01:07):
Happy Saturday. Now, look, is this something that happens very often?

Speaker 5 (01:12):
Look?

Speaker 6 (01:12):
Statistically, yes, not all all the times. But as a buyer,
you might find yourself and being told by the agent
just prior to an auction that you are the only
registered bidder, and I guess in many regards, i'd encourage
buyers to actually think about that as being an advantage,
being something not to shy away from, but to lean
in and obviously give yourself the best chance of owning

(01:34):
a home.

Speaker 1 (01:35):
Okay, so why do you say that, Why is it
an advantage?

Speaker 6 (01:39):
We look, Obviously, it means if you're the only one registered,
you're the only one who has that potential chance of
making offers under the auction conditions, which is a very
powerful position when you are putting that in front of
an owner. Owners are a decision making mode that day,
and looks it might sound unusual to consider bidding against yourself,
counterintuitive if you will, But at the end of the day,

(02:01):
an auction is merely a negotiation. There's always still going
to be a reserve price. But because nobody else can
make bids against you, you're in the box seat. You've
got that best chance to work collaboratively with the agent,
with the auctioneer, to be able to put your best
foot forward and hopefully it's a happy ending for you.

Speaker 2 (02:16):
Okay.

Speaker 1 (02:16):
So, and we know auction is show time for someone
like yourself. So does it actually happen to you stand
up in front of the one party and go through
the whole thing?

Speaker 6 (02:27):
Ah, look, in the desperate attempt of getting more spotlight.
Absolutely from myself. Camp. Sometimes the negotiation might happen just
prior to the auction, But I'd really embrace the idea
that if you're willing as a bidder to collaboratively negotiate,
bid by making those offers and work together.

Speaker 4 (02:48):
Yeah.

Speaker 6 (02:48):
Often there is a one bitter auction you still call it,
You still go through that process.

Speaker 4 (02:53):
Obviously, it's known though.

Speaker 6 (02:54):
To you that you're not expecting other people to bid,
and it's just giving yourself the best chance to put
forward an offer that's going to be compelling enough to
hopefully win the day for you.

Speaker 3 (03:04):
Yeah, and so I guess it would take away a
little bit of that theater element that you have at
an auction. So, Alec, does it basically mean that, like say,
if I rocked up and I was the only registered
bitter and Cam was the one selling the house. Does
that just mean it's a back and forth between him
and I, with you the auctioneer, being the middle person.

Speaker 6 (03:23):
That's exactly right. Essentially, that's the best way of viewing it.
It's an open aired negotiation. If you will, it is
your chance to put forward a number. And look, my
recommendation to any one bitter auction when I'm talking to
people prior is you know, maybe it doesn't have to
be your best offer to start with, but start with
a strong number that shows the owner that you're serious.

(03:44):
The owner might counter offer and come back to you
with a figure, and give yourself that best chance. Because
once it does pass in, once it does go under
private treaty terms the following day, anybody else can make offers,
whereas you're the only one in that position that can
put forward that compelling offer that if they agree to it,
can sign on the dotted line and secure it then
and there.

Speaker 1 (04:03):
Okay, And that adds to what you're saying. It's almost
like you're in a position of strength, mate. Do you
have a recent example where this has happened to you?

Speaker 6 (04:11):
Oh, plenty of them, and sometimes it's a case too
where the highest bid it might just be a little
bit stronger. But you know, I think collaboratively, if you
work with your buyers, if you talk to them, and
you can even ask an agent or an auctioneer prior
to the auction how many people are registered, and if
you are finding yourself in that position, talk through it,
go through some numbers, you know, ask the questions, and

(04:34):
no doubt everyone's there for the same purpose. Everyone wants
to see a successful result. And you know, if you
work collaboratively, you can walk away with the outcome that
you desired as the sellers are desiring as well.

Speaker 3 (04:46):
Okay, well, it's interesting to learn that it's still all
systems go. You know, it still happens. You can get
there and walk away with the home that you want,
which is good to hear. Alex, thank you so much
of your time this morning.

Speaker 6 (04:58):
Always a pleasure you enjoy the rest of your day.

Speaker 1 (05:00):
Well, Scott Stifi is on, so we just will be
along with the raiders and Government House open day and
the Beer Insider Festival, so get nothing much to do
in the nation's capital this weekend.

Speaker 6 (05:10):
Righter, throw a couple of auctions in.

Speaker 3 (05:14):
Yeah, yeah, I was going to say for sure, thanks
so much. Alec Brown, sales director and award winning auction
at Rate.

Speaker 1 (05:20):
Wait all right now, as I said, it's sort of
under the umbrella of what we're just about to speak about.
The showroom camera is back. I love this. Yeah, this
is a time. I mean, it's a very busy day
today in Canberra, but go if you can tomorrow though,
after the crackers, after everything you can spend, you could
get lost in this place.

Speaker 3 (05:37):
Yes, all things home design, build gun and lifestyle. It's
all there at Epic across the weekend. Nick Peeper is
the event manager.

Speaker 5 (05:44):
Good morning Nick, Rene, Good morning Cam, Good morning.

Speaker 3 (05:47):
H Hey, now give us an overview of the show.
What can people expect to see?

Speaker 5 (05:53):
Oh, look, it's absolutely fantastic down here at the Butterweying Pavilion,
that Epic chocol box full of different exhibitors all around
the home builds design. We've really pushed the lifestyle aspects
this year, so we're really branching out to look at
all things lifestyle for people in the act region. And
in all of that we're not just talking about the
two legged people. We've actually branched out and looked at

(06:14):
the pet side of things as well. We've got a
whole part here that's starting and growing around your four
legged children. So you have plenty of things down here
to come and see and do.

Speaker 1 (06:25):
Okay, And so when you talk about lifestyle, the lifestyle element,
as you stand there on site right now and look around,
what are some of the lifestyle stands or interactions that
you're looking at.

Speaker 5 (06:37):
Look, there's lots of things down here. I think probably
the one that really jumps out at me that sort
of epitomizes probably the odsie type of lifestyle is the
canber barbecue and outdoor weather specialists. They're down here, massive display.
What else have we got. There's a whole bunch of
things around how you actually make your house a lot
better for your lifestyle, all outdoor living type of things,

(07:00):
all sorts of things along those sorts of those areas.
There's just so much stuff. I'm standing here looking around,
I'm sort of a bit over overwhelmed by what I'm
looking at. It's christine cool. We've got listart down here
with the whole range of outdoor living options and those
sorts of things. So's twenty things.

Speaker 2 (07:18):
Yeah, for sure.

Speaker 3 (07:18):
And is there a particular exhibit that most excites you, Nick,
on is probably a hard question to answer.

Speaker 4 (07:24):
It is.

Speaker 5 (07:25):
This is like saying which is your favorite child?

Speaker 2 (07:27):
Yes, but we love asking people all the time.

Speaker 1 (07:30):
Anyway, Look, I've gone around.

Speaker 5 (07:33):
What's really jumped out at me having looked through yesterday
and set up and today is fat Boy Bikes, which
is all the e bikes so pushbikes. Oh yep, they
look absolutely fantastic. I can't wait to try and get
over there and maybe sneak one out to take for
a bit of a ride out the back later on.
Somebody needs to distrack them. And the other part too
is certainly the Canberra Barbecue and Outdoors, the area they've

(07:55):
got cooking demos all day. I love the new outdoor
kitchen range. It's certainly very inspiring there and all the
new Weber Q range that they've got.

Speaker 1 (08:05):
I would imagine even if you've got near that area,
the smell of whatever is cooking, we just draw you in.

Speaker 4 (08:12):
I think.

Speaker 5 (08:12):
So it's going to be a long tough day for
some of us here.

Speaker 3 (08:15):
Yeah, and no it's not what you're talking about, all right, Nick, Well,
thank you so much for joining us and sharing that
with this this morning and all the best out of
Epic this weekend.

Speaker 5 (08:24):
Fantastic, So from nine to three today and tomorrow. So
look forward to seeing people down here.

Speaker 3 (08:29):
Wonderful, perfect, Thank you Nick Peeper, who's the event manager
there the showroom camera. Like we said, all things you know,
lifestyle guard and home design build everything you need down
at Epic today and tomorrow for Nate.

Speaker 1 (08:39):
Last night at the Hotel Realm, I hosted the Men's
Link Big Night Out, which was incredible, beautiful. We raised
almost three hundred thousand dollars for an incredibly important organization.

Speaker 2 (08:52):
Yes.

Speaker 1 (08:53):
And one of the things that they did at the end,
and I wasn't expecting it, they gave me a beautiful
hamper style pack. Oh nice that included a bottle of
Hilltop's Clonic Killer.

Speaker 4 (09:04):
Ah.

Speaker 2 (09:05):
They know who they're speaking to, don't they.

Speaker 1 (09:08):
And so immediately we talk about local wines in our people,
cool climate wine region and just how well that's going
at the moment.

Speaker 3 (09:16):
Yes, and you can own a slice of the pie
if you want, because we've got Geer Creek Winery which
has been recently listed for sale.

Speaker 2 (09:25):
Care Yeah, excitingly Yeah. And Frank Wormsley is director at
Auction Advantage. Good morning, Frank, good morning. Now look tell
us all about Geercreek Winery.

Speaker 5 (09:35):
Yeah.

Speaker 4 (09:35):
Thanks. Look, this is again an asset that sits right
in the heart of the Capital region and represents well,
I couldn't say a blank Kansas because the winery's been
going since eighty four. It's been taken up by new owners,
of course, who have invested heavily. It just represents an

(09:55):
opportunity for a mixed business and accommodation in it payment
wine and food business for someone who's a willing and
able entrepreneur.

Speaker 1 (10:05):
Yeah, and so owning a winery, we know there's lots
of moving parts and you have to be good at
a number of things. What comes with the sale though.

Speaker 4 (10:14):
The value here comes into two or three components. Obviously
there's sixteen point two hectares of the very best earth
and other nature producers in this part of the world.
There's the production capacity, as the owner tells me, he's
invested heavily in equipment. So the rolls Royce of wine production,
we could do about five hundred ton a year of production.

(10:37):
He only produced ten ton on site. And then the
broad scope of zoning under A one which enables things
like bed and breakfast, accommodation and events, subject obviously to
consent and development application.

Speaker 3 (10:51):
Yeah, and Frank, I remember a number of years ago
I went on a local winery tour for a Hen's
Afternoon and we stopped off at one. I can't remember
which one it was was, but the lady who owned
it and ran it, she was my.

Speaker 2 (11:04):
Old psychology.

Speaker 3 (11:06):
Lecturer or teacher at college at Lake Ginindara College, So
she's obviously seen the appeal wanting to leave her old
job behind, come out, run this winery, own this winery.
What do you think is great about doing that?

Speaker 4 (11:20):
Well, there's so much to unpacking that statement. I think
the entire definition of Hen's Parties and bucks is that
you don't remember where you go right now? You remember, Yes, I.

Speaker 3 (11:32):
Can't remember the name of this one, so I'm sort
of half there.

Speaker 4 (11:36):
And as for a teacher being driven to own a
liquor business as an alumni of Lake Gendera, I can
only suggest that that was a sound decision. Look, the
real opportunity exists in the resurgence and emergence of local travel.
And what we've seen through Airbnb is you know, we
sold like George Winery. They are now and good luck

(11:59):
to those guys. They're working on more airbnb and transportable accommodation.
So I think what we've learned is you can't have
a binary business model. It needs to be multifaceted. It
needs to have accommodation, needs to have food, and it
needs to have local produce like wine. And I feel
that because there's a real scarcity of accommodation, the cost
to build new accommodation in Canberra's a hotel accommodation. So

(12:24):
I think people are seeing the opportunity to get significant
landholdings while while building their own income streams. And I
think your psychology teacher saw that. Round with it.

Speaker 1 (12:34):
Good luck and mate, you mentioned the sale of George Winery,
which you oversaw very successfully.

Speaker 2 (12:41):
You've got this.

Speaker 1 (12:42):
One now you seem to becoming the go to winery
niche Now, well, it's good.

Speaker 4 (12:49):
It's good to purvey and survey the produce.

Speaker 2 (12:54):
The research exactly.

Speaker 4 (12:58):
Look, auctions are complicated for and sellers alike. That was
successful late George. We hope, we hope by a sea value.
We've got a price guide of about six million on this.
We hope that they engage. It will be open today
and tomorrow at two pm. I've got options throughout all
day tomorrow, so I've got some colleagues there more than

(13:18):
comfortable to take anyone during the week and we can
partake in a very mighty fine twenty twenty two charas
it's out there lovely.

Speaker 3 (13:25):
Well that sounds great, all right, Frank, Well, all the
best with this one.

Speaker 2 (13:29):
We can't wait to hear how it goes. Be sure
to let us know and thanks wey time this morning.

Speaker 4 (13:33):
Thanks Thanks kem bye bye.

Speaker 3 (13:34):
Now that's our Frank Wormsley, director at Auction Advantage there.
Make sure you check it out online on the Your
Homes website.

Speaker 1 (13:41):
Well, those are the interviews we most enjoyed in last
week's Mixed one A six point three real estate show.
If you love hearing about the latest trends, or you're
just up for a sticky beek, be sure to drop
by for a listen this Saturday between nine and ten
canon Rene's Real Estate show.

Speaker 3 (13:56):
Sounds like camera, sounds like mix on a six point
three
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