Want to secure your dream home without overpaying or breaking a sweat in the auction room?

On the HomeRun x realestate.co.nz podcast, seasoned auctioneer Andrew North pulls back the curtain on what really happens in the auction room.

With more than three decades of gavel-wielding experience, North says auctions can feel intimidating, but they’re often less mysterious than people think. In fact, one of their biggest strengths is transparency: everyone can see who’s bidding, what they’re prepared to pay, and when they’re ready to bow out.

The benefit of auctions

One of the biggest frustrations for buyers is finding out they were only a few thousand dollars short, after the property has already sold to someone else.

North says Auctions remove much of that uncertainty.

"Instead of submitting an offer and hoping it's enough, buyers can see the competition in real time and decide for themselves whether they want to keep going. In an auction, negotiations are public. Everything else is done privately.

"That doesn't make auctions any less nerve-racking, but it does mean buyers know exactly what they're up against. If they choose to walk away, they're doing so with all the information in front of them."

It's not always about the price

Most buyers like to think property decisions are logical. Then they find the house.

North says what a property is worth isn't always determined by recent sales or market data. Sometimes it's determined by circumstance.

"Maybe you've already sold your home. Maybe you're facing a deadline. Maybe you've missed out on five other properties and are tired of spending weekends at open homes.

"A house can have a different value to different people depending on where they're at in life"

Don't make your dream home your first auction

If you've never been to an auction before, North has some simple advice: go and watch a few.

"Not because you need to become an expert, but because auction rooms are full of surprises.

"You'll see properties sell under the hammer, others pause for negotiation, and some attract no bidding at all. You'll see confident buyers, nervous buyers and buyers who change their minds three times before making a final decision.

"The more auctions you watch, the less intimidating the process becomes when it's your turn to bid."

Think about where you stand

Buyers spend a lot of time thinking about what they'll bid, but not much time thinking about where they'll stand.

North prefers a spot where he can see both the auctioneer and the other bidders.

"You get a better feel for what's happening in the room," he says.

But there's a catch.

"If you can see everyone else, they can see you too. So if you've got a terrible poker face, maybe don't stand there."

The same goes for couples. According to North, they're often easier to read than they realise.

"You'll see a couple bidding away happily, then suddenly they stop and look at each other. That's usually the moment they've reached the limit they agreed on before they walked in."

His advice? Have those conversations before auction day and stick to the plan.

How much should you tell the agent?

You might love the property. You might need to move quickly. You might be exhausted after missing out on five other homes.

North says none of that is wrong, but buyers should remember the agent is there to represent the seller.

“You don’t need to treat every conversation like a poker game,” he says. “But you do need to be thoughtful about what you share.”

North says the best negotiations usually happen when everyone can work together.

“It’s not about one side winning and the other losing,” he says. “It’s about getting the deal done.”

The bottom line

Auctions aren't just about the highest bid. They are about preparation, confidence, timing and understanding human behaviour.

Whether you're buying or selling, understanding how auctions work can take a lot of the uncertainty out of the process. The more prepared you are, the more confident you'll feel when it comes time to make a decision.

Listen to the full discussion

This article is based on a conversation with auctioneer Andrew North on the Home Run x realestate.co.nz podcast.

Listen to the episode: https://www.youtube.com/watch?v=twA2Y0jqxZY