How to Buy a House at a Boardroom Auction in 2025

You've heard of Auctions, and you've heard of Online Auctions. But have you heard of Boardroom Auctions? Boardroom Auctions are probably the most secretive, illusive and most stressful of all auctions. Our buyers advocates will explain what a Boardroom Auction is and what you need to do. We will also discuss how to manage this boardroom auction in the right way, or you may end up losing your dream property or stressing over bad buyer's remorse.

We have also updated this article in 2025 to cover some of the new tactics and techniques to win this boardroom auction.

What are Boardroom Auctions? How are they different from the usual auctions or online auctions? Are there any differences at all? These are the common questions most buyers have in their minds. Stay with us, and we'll guide you through them.

The Melbourne Property Market in 2025

With interest rates falling, buyer interests in Melbourne properties have returned. Post pandemic, at the start of the period of high interest rates, many analysts have predicted prices to fall and even collapsed, due to an "predicted" "mortgage cliff". Many also proclaimed that this is the price correction Australia need to have.

While this might make sense based on textbook economic theories, things are not that simple. Prices have not only not consolidate, they had been rising for almost a year. Good properties are still being sold quickly, and multiple offers for good properties are common, suggesting buyer interests in Melbourne properties are still strong.

The combination of record migration, leading to a lack of rental properties, and properties available for sale lead to price booms!

With a low supply of houses in the market and an urgency for buyers to "grab anything", real estate sales agents have resorted to using a combination of auctions fixed date sales or Expression of Interest (EOI), or fixed priced sale or simply private sale. But that is not all. Sales agents had been changing the marketing techniques of good properties throughout the sales campaign, depending on demand, and seller's, or to a smaller extent, the buyer's circumstances, to maximise the price they can achieve for a property.

With the state of the 2025 Australian property market summarised in a couple of paragraphs,

How do We Deal with a Boardroom Auction?

We have received an offer that was deemed acceptable to the vendor.

The above phrase is probably one of the most disheartening phrase any buyers could get from a real estate agent. It means the vendor has received an offer that they think is acceptable. If you received this message from the sales agent, you do not have much time to waste. You need to action quickly, before you lose it. The sales agent is giving you a chance to make an offer on your dream property, so, grab that chance.

Also note that a sales campaign which was originally a sale by set date or EOI or Fixed priced sale can and almost always evolve into a "Best and Final Offer" situation, or a "sale by negotiation" or a "Boardroom Auction" situation.

What is a Boardroom Auction?

A boardroom auction is a real-time, auction held in a meeting room, typically at a real estate agent's office, or at the property, where interested buyers submit bids for a property that has generated significant interest or received an acceptable offer during its marketing campaign. It's often a process used to quickly resolve competing offers by creating a competitive, bidding environment to achieve the best possible outcome for the seller.

It is a variation of the open auction process, but with a major difference. If you are familiar with auctions, and how to win auctions, you are one step ahead in managing the Boardroom Auction. If not, head over to our "Winning Auctions" guide for tips on winning auctions. The techniques for the open auction still applies. These auction winning tips are applicable to winning a Boardroom Auction, with some modifications.

The bad news is, if you think an open Auction is stressful, with the need to publicly present your offer, a Boardroom Auction is probably at least twice as bad. You will still need to nerves to publicly present your offer. But you have to do this In a boardroom set up, within arms-length of your bidding enemy.

How is a Boardroom Auction Similar to an Open Auction?

Boardroom Auctions are very similar to the more common open auctions. It is conducted by an auctioneer, and interested buyers are invited to participate in the bidding, at a set date, time and location. The rules are similar. Properties bought at the boardroom auctions are unconditional. Offers subject to finance, building and pests, etc, will not be accepted. Thus, you need to be prepared and be up-to-date with your due diligence. When you receive this call, and if you have not already done your due diligence, it might be too late and you do not have much time to do any due diligence. A typical person takes about 2 weeks to do a proper due diligence on a property, while real estate agents typically give buyers 24 to 72 hours notice of a boardroom auctions.

At Concierge Buyers Advocates our auction bidding service prepares our clients for boardroom auctions, and assist the clients with the due diligence, helping our clients check the property, appraise the property for a reasonable price and what the various price points should be. We will also investigate and advise what the other bidders could be offering. Taping into our 20+ years of property investment and buying experience, we will be able to give buyers a good indication of price points, the good and bad, within 24 hours, giving you the confidence to proceed or walk away from the Boardroom auction. We can also represent you, to shield you from the stress and tension from the boardroom auction. To most people, boardroom auctions are easily 3-5 times more intense than open auctions.

How is a Boardroom Auction Different from an Open Auction?

Whilst boardroom auctions are similar to regular auctions, there are significant differences that makes them difficult to manage properly. The intensity, outcome, duration, etc, varies depending on the number of participants and the decisions each party makes during the boardroom auction.

So, what are the differences between Boardroom Auctions and regular Auctions?

1. Boardroom Auctions do not have a predetermined auction date, unlike a typical auction. In Melbourne, the date and time for boardroom auctions are usually determined in the last minute, and are triggered when the vendor or sales agent receives an acceptable offer, and they wanted to see who else is interested; or it could be forced upon by Buyers Advocates. As such, there is no way to pre-determine an auction date.

2. Boardroom Auctions have little notice. Because of the unknown auction date, there is very little an interested buyer can do, to foresee when the auction will be held. The real estate agents will usually inform buyers whom they think might be interested, notifying them of the boardroom auction date and time. This notice period can vary from between 24 to 48 or more hours, depending on a few factors.

3. Buyers will miss out if they had not indicated their interest to the agent. This is because, the agents have to individually inform the buyers, if the agents do not know you are interested, how would they know they must inform you? This is obvious. Hesitant buyers will almost always miss out on good properties they want.

4. There are significantly less bidders and audience during the Boardroom Auction. Due to its impromptu and "invitation-only" process. It is normal that only serious buyers (plus their families and buyers advocates) are present at the auction.

5. It is usually held in a smaller environment, usually at the real estate agencies' boardroom. Thus the name "Boardroom Auction". Or indoors, at the site of the property.

6. Rules of the auction may differ between auctions, or between agencies, but they will all be disclosed at the start of the auction.

What Can Happen during the Boardroom Auction?

Boardroom auctions can end with different outcomes, depending a number of factors:

1. How many participants there are.

2. How prepared the participants are.

3. The intentions of the participants.

Now, because the trigger for board room auctions is usually when the vendor receives an offer which they think is acceptable, boardroom auctions will almost certainly end with a winner, unlike open auctions which may result in the property being passed in. So, someone in the boardroom already has submitted an offer that the vendor is willing to accept. The property will sell at the auction.

So, if you are invited to the boardroom auction and your offer is not the one that triggered the auction, you know you have a strong competitor. Someone else in the boardroom has already won the auction and the sales agents is only having this auction to determine who can better that offer. If you are not well prepared, be prepared to say goodbye to your dream property.

Always attend the boardroom auction, if you triggered the auction. It means your offer is acceptable. It may be very stressful due to the impromptu nature and you are probably unprepared. You have to be there, to have a chance to buy it. The real estate agent may inform you that there are other bidders. It is usual that some buyers might get cold feet, and chose not to attend. Auction situations are very stressful and anxiety causing, to those unfamiliar with them. More so in the boardroom auction situation, when all bidders are gathered within arm's length in a small, enclosed room. While it is designed to be transparent, many buyers are intimidated by this transparency, the close proximity of other competitors and the boardroom environment that it is held in.

How do you win a Boardroom Auction?

The secret to winning a Boardroom auction is similar to how you can win an auction... Preparation is the key. For auction preparation tips, head over to our "Auction Winning Tips" articles, where we will teach you how you can win ANY auctions without overpaying.

However, the MOST critical step to winning happens PRIOR to the auction. This is an important step you must do, in order to participate in the Boardroom Auction.

You need to let the agent know you are interested in the property as soon as you know you are interested.

This lets a good agent know they have to inform you, if and when a decision is made to conduct a Boardroom Auction, or any other forms of auction or changes in buying processes.

Why are Boardroom Auctions Scary and Intimidating?

Too often, we see buyers being scared of boardroom auctions and will try to avoid them at all costs. There are many reasons why they see boardroom auctions as scary. The usual reasons could be

• Finances are not yet ready. Because in a usual set date sale campaign, they would have the opportunity to submit their offer "subject to finance".

• Assumes that the final price will go way beyond their limit.

• Unsure of what a boardroom auction is.

• Paddle-phobia. Auction Phobia. Yes, this is real. Some buyers have a phobia of bidding at auctions. And this is normal.

• Boardroom Auction Phobia. Boardroom auctions are at least twice as intimidating as open auctions, due to it's confined space setup.

• Being skeptical about the agent’s intention with the boardroom auction.

• Doubt that it is actually going to happen (assuming it’s an agent bluff).

• Fear of bidding in an enclosed room where opponents are up close and intimidating.

• Unable to make it to the boardroom auction at short notice.

• Insufficient time to complete the full due diligence at short notice.

• The buyer might actually be more interested in another property.

We have had spectacular successes representing clients during boardroom auctions or any other forms of auctions. Our buyers advocates are often the triggers of boardroom auctions, as we prefer the transparency. It is a swift outcome for the real estate agent as well, thus it is a win-win for all.

Where to get help with Boardroom Auctions?

Practice. Practice. Practice. Practice and attend as many boardroom auctions as possible. Or our buyers advocates can help with bidding on your behalf.

Our convenient one-stop property buying service manages the entire purchase strategy for our property buying clients. We search, scrutinise properties and attend auctions, including boardroom auctions, negotiate at private sales, for our clients, often with successful results. Our strategies have saved our clients up to $500,000 in one instance. Here is our story.

While we cannot guarantee that you will definitely win the auction at a discount, we can guarantee that you will:

• Know what to expect at the auction

• Know what the property is worth

• Know what others could be offering for the property

• Know what you should offer for it

• Know when to walk away

• Be in good hands at the auction

• Be represented at the auction

Get in touch if you need more information on our property purchase plans.

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