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Don’t be tricked by these sneaky auction tactics

From fear of missing out to what’s known as ‘money illusion’, it’s useful to understand the psychology of real estate negotiations.

Lucy Dean
Lucy DeanWealth reporter

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When a property goes under the hammer, the auctioneer and real estate agent are trying to do two things: first, heighten your emotional attachment, and second, encourage competition to get the highest price.

Buyers, on the other hand, have one goal, which is to win without exceeding their budget.

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Lucy Dean writes about wealth management, personal finance, lifestyle and leisure, based in The Australian Financial Review's Sydney newsroom. Connect with Lucy on Twitter. Email Lucy at l.dean@afr.com

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    Original URL: https://www.afr.com/wealth/personal-finance/the-eight-mind-tricks-that-will-help-you-win-property-auctions-20240827-p5k5pm