Mastering Pre-Auction Offers: When, How, Why?
In This Week’s How's The Market | Edition 122
Mastering Pre-Auction Offers: When, How, Why?
South Yarra’s Crown Jewel
Housing crisis: Baby Boomer tax cut could help first home buyers
Mastering Pre-Auction Offers: When, How, Why?
It’s Thursday night. You’re scrolling listings, a glass of red in hand, and then bam a property pops up that ticks every box.
But here’s the million-dollar question:
Do you wait for auction day or strike early with a killer pre-auction offer?
Let’s be honest. Auctions are the stuff of buyer nightmares.
Pressure-packed Saturdays, emotional bidding wars, no cooling-off period, and the lingering fear that you’ve missed something.
If you’re a first-home buyer or even just new to Melbourne’s real estate game, it can feel overwhelming.
You’ve shelled out for building inspections, reviewed contracts, and now you’re standing in a crowd with sweaty palms and a bidding paddle.
But what if there was another way?
Let’s talk pre-auction offers and why sometimes, speed beats strategy.
When to Strike Early (and Win Big)
James and I think that making a pre auction offer isn’t just about going hard fast.
You need to factor in 3 things:
1. Market Conditions
In a buyer’s market (like December 2024), running to auction is often the best move. Fewer bidders = more negotiating power post-auction.
But in today’s tighter stock market? A-grade homes are hot. Competition is fierce. If you spot one, chances are others will too.
And that’s your green light to move.
2. Vendor Motivation
Has the vendor already bought it? Do they need a short settlement? Are they nervous about the auction?
Talk to the agent. Dig deep. The more you understand their timeline, the more leverage you gain.
Pro tip: Some vendors are willing to sell before auction to avoid the uncertainty even at a lower price.
Why Speed is Your Superpower
If you wait until the second open, it’s already game over.
You want to be that buyer who books a private inspection Monday night, has a building report Tuesday morning, and fires off an unconditional offer before the next open.
Why?
Because while everyone else is waiting for next Saturday, you’ve closed the deal.
The Agent Whisperer
Agents remember who makes their life easier.
Build rapport. Ask the right questions. Be the last one at the open, quietly soaking up what others miss.
And always always frame your offer to help the agent close quickly.
When NOT to Make a Pre-Auction Offer
Hold fire if:
The campaign is quiet.
The vendor seems patient.
You’re only a few days from the auction and you smell a pass-in opportunity.
In these cases?
Let the auction play out. You’ll often walk away with a deal at or under the reserve price.
Stay ahead of the market - get the real auction results every week!
What The Agents Are Saying
Very slow last couple of weekend over school holidays and winter with next to no auctions.
Stock hasn’t shot up, however, it’s starting to increase.
Spring isn’t looking as strong as most agents initially predicted with a lot of buyers and sellers still sitting on the sidelines and waiting.
In the meantime, we are seeing price increases across the board. Particularly still in the lower end market of houses on 400m2 +
Many agents that operate in these markets have said they have never received more calls from buyers agents as interstate investors are returning in droves.
The Wow Factor!
Penthouse/16 The Righi, South Yarra, Vic 3141
Epic penthouse.
Epic location.
Wow Factors:
890sqm (approx.) of luxury living
Private rooftop + full-floor basement
Direct lift access
Chef’s kitchen with Wolf, Sub-Zero & walk-in cool room
3 beds with travertine ensuites & walk-in robes
Gas fireplace & integrated bar
Crestron smart home + biometric access
Private gym, sauna & 1600-bottle wine cellar
9+ car gallery-style garage
City skyline views from terrace
Price guide: $9,500,000 - $10,450,000
In The Media
‘Housing crisis: Baby Boomer tax cut could help first home buyers
What if one more win for Boomers could finally be the break first-home buyers need?
That’s the bold call from the Real Estate Buyers Agents Association of Australia - urging governments to slash stamp duty for over 60s buying homes under $1M to encourage downsizing and free up family homes.
REBAA says outdated tax thresholds are holding Boomers back from making the move and one simple incentive could open the floodgates for younger buyers.
“It’s unfair that someone in their 70s pays the same duty as a 30-year-old,” said Acting REBAA President Zoran Solano.
“Remove that hurdle, and we’ll see thousands more homes come onto the market.”
It’s not just about helping Boomers, it’s about releasing supply, easing affordability pressure, and reshaping the market for the next generation.
Even the Real Estate Institute of Australia backs the push, calling for a national last-home buyer scheme to help shift the housing needle.
The big idea: Reward Boomers for downsizing. Make more space for growing families. Let first-home buyers finally have a shot.
Because if nothing changes - nothing changes.
Final Thoughts
Pre-auction offers are not about jumping the queue.
They’re about reading the market, the vendor, the agent—and making smart, speedy moves when the stars align.
So next time you find “the one,” ask yourself:
Is this worth waiting for? Or do I move now and close before the crowd even arrives?
Master this game, and you’ll be buying like a pro.
The more open you go, the sharper your eye gets.
And trust me — by the tenth one, you’ll be tapping walls and scanning rooftops like a seasoned buyer’s agent.
If you or someone you know would like assistance to buy this year, book in a call and we can discuss if we can help.
Thanks for reading this far!
We value feedback and if you have any suggestions on what you would like covered in the future please email me at tristan@tomii.com.au
Happy Buying!
Note: This is general advice and does not take into consideration your objectives, situations or needs. Please consider if this advice is suitable for you and your circumstances and speak to a professional before making any financial decisions.
