“Speed and size, that’s what wins." That's the advice Ray White chief operating officer and national auctioneer Daniel Coulson has to buyers hoping to secure one of the four Block NZ homes.
This week Ray White and TV Three announced that the Block auctions were back on - more than two months after the Covid outbreak in Auckland put the reality TV show on hold.
This time, because Auckland remains at alert level three, the auction will be held online.
All four homes on Huia Road in Auckland's Point Chevalier will be on the block on Saturday, November 6.
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The news will be a welcome relief to the teams, who have been disrupted by not one but two Covid lockdowns.
Two weeks into filming in March 2020, work on the site was halted and contestants were forced to return home, resuming their builds earlier this year. Then just two weeks out from what may arguably be the most extraordinary auctions in the programme’s history, in a market of record house prices, Covid-19 again delayed the finale.
Season nine of The Block NZ has been twice delayed by Auckland's Covid lockdowns, since filming began in March 2020. Photo / Three
But the bidding dramas and the final prices will be a secret until the big season finale is broadcast on Three and ThreeNow on a yet-to-be announced date soon after.
Coulson said Aucklanders were now used to bidding online. “Since we went into level four, we’ve held over 800 auctions online, with thousands of bidders. On average we’re seeing 5.3 bidders registered per auction, and 3.9 of those actively bidding. But some auctions we’ve gone up to 20 or 30 bidders,” he said.
“The rules of engagement don’t change. It’s fairly new to bidders, but we team people up by phone with an agent to participate and our guys and girls do this day in, day out so can really help. The mechanics of registering for online auctions, placing bids by telephone are no different from in person auctions.”
The houses had been open for viewing before lockdown, and under level 3 agents can show potential buyers through. Photo supplied
He said that the key strategies for successful bidding are the same too. “Speed and size, that’s what wins we always say.
“It’s the same dynamic in play. People can’t see you in person, so you have to think ‘how do I give the impression to other people that I’m more confident and comfortable with my bidding?’
“Fast pace really reflects your confidence.”
The listing agents delegate other Ray White agents to match up with each bidder, finding ones that are suited to each other.
Coulson advised that, as in an auction room where some bidders are dialling in by phone, bidders will often instruct their agent on their price limit, so that agents can go in swiftly on their behalf without pausing to consult.
“That builds some confidence and trust. The agent’s job is to help their buyer do their best, and keep them confident to buy.”
He swiftly busts some myths about bidding too.
“There’s a misconception that the opening bid dictates the sale price. If you go with a strong opening bid, that strong start can have a higher success rate. A low bid means there’s more competition in at the beginning."
Ray White chief operating officer Daniel Coulson says buyers shouldn't overthink things. Photo / Supplied
He adds that, even though you can’t see the competition, the agents know who the other bidders are and can tip off who looks like strong competition – or not. Bidders who go right to the wire as the auctioneer calls ‘third and final call’ before coming in with a new bid are playing a risky strategy.
And Coulson’s final tip?
“Over-gamifying it can sometimes backfire. If you’ve got a genuine intent to buy, then just buy.”
Ray White New Zealand chief agency officer Treena Drinnan said it was fantastic to see the auctions finally going ahead, and that agents on the four homes were already fielding genuine interest. One on one viewing is permitted within the current alert level restrictions.
In its eight seasons, no Block house has cracked $2m during the televised auctions, but this season could change all that.
The house in Newell Street fetched $1.47m when it appeared on The Block NZ in 2014 and resold two months ago for $3.182m. Photo / Supplied
In July a three-bedroom house from season three of The Block NZ, also in Point Chevalier, sold under the hammer for $3.182 million. The price on the Newell Street house was more than double the $1.47m it sold for at the end of the 2014 season, when it delivered second-placed contestants Maree and James a profit of $147,000.
OneRoof's house price figures out this week show the market in the seaside suburb has been running hot, as average property value jumped nearly 28% in the last 12 months to $2.124m, with no property in the suburb selling for less than $1m this year.
