Land Auction Strategy: 5 Tips to Win a Land Auction

Land auctions are the best way to secure high-quality land whether you’re looking to develop it, farm it, turn it into a homestead, or just use it for recreational purposes. They allow you to get top-quality land at a deal if you bid properly, and in today’s market, that is absolutely crucial. 

However, because land auctions are so beneficial for a number of buyers, they’re also extremely competitive. 

It’s easy to try a few land auctions, lose outright, and decide you’ve had enough. However, there are some things you can do to increase your chances of winning dramatically and bypass all the hardships of a competitive market. It’s extremely important to have a proper land auction strategy.

Today, we’ll highlight five of them. 

1: Look Professional

The first thing you can do is look like you’re a big fish in a small pond. Auctions work with a bidding system. People of all kinds bid back and forth, and believe it or not, even in an online auction, how you appear has a dramatic effect on whether or not people will bid against you. 

If you look like a high-end real-estate investor with plenty of capital to throw around, you’ll make the majority of casual buyers give up on the spot. They know they can’t go toe-to-toe in a bidding war with you, and you appear as if you can take a bigger financial hit than they can. 

This is as simple as putting time and effort into how your profile looks and making bids that are characteristic of a professional. 

2: Stay Focused

Properties for auction typically go on for a set period of time. This can be weeks or months if you’re dealing with an online auction. During that time, anything can happen at any time. You might sit there with a winning bid for days, but as the timer starts to count down, a bidding war might start to secure that last-minute win. 

It’s important to stay focused and stick around. This is especially true with timed auctions because the last minutes often see the most action. 

3: Balance Your Bids

You don’t want to bid your maximum bid amount right off the bat. If you do that, you might win, but you also risk greatly overpaying for the property. However, you also don’t want to get into a bidding war by placing minimum bids back and forth. This tends to drive the price up more than making genuine bids because it encourages other bidders to keep going in the hopes of just barely edging you out. Look at eBay to see just how much this practice can raise the price at auction. 

4: Enter Prepared

You need to be prepared for the auction before you even start bidding. You should know what you’re willing to spend, how much financing you’ll be able to receive, and just how badly you want to win a specific property. 

This will give you a clear outline of how to react, and you won’t waste time thinking, crunching numbers, or doing anything else during the auction. This does mean you’ll cut yourself off at certain points, but in general, it will make you much more effective during the auction process while others are second-guessing themselves. 

5: Use the Auction Flipperz App

Auction Flippers stands out for land auctions because it creates the ideal conditions for you to successfully win land property without constant monitoring, attending any sort of in-person event, or worrying about overt requirements. 

If you want to win a land auction, having a proper land auction strategy is crucial. From looking professional to staying focused, balancing your bids, entering prepared, and using tools like the Auction Flippers app, you can increase your chances of securing top-quality land at a deal. Remember, the key to success in land auctions is preparation and following through with your plan. By taking the tips we’ve shared into consideration, you can become a pro in no time.