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Paul Tzamalis: Auctioneer of the year’s tips for autumn auction market

By Mo Zeitouneh

Victoria’s auctioneer of the year is urging buyers to “be in it to win it” amid what he predicts will be a steady auction market in the lead up to Easter.

The Auction Company’s Paul Tzamalis was crowned the Real Estate Institute of Victoria’s senior auctioneer of the year last month after 10 years in the property game.

He’s predicting a strong auction market throughout autumn as the sector starts to “balance out”.

REIV senior auctioneer of the year Paul Tzamalis is predicting a steady autumn auction market.

And with more properties coming online, and less competition on auction day, the auctioneer said now was the time to buy.

“I think Easter and over the course of autumn is going to be relatively steady — we’ll have increased stock on the market as we have a somewhat stable market place,” Mr Tzamalis said.

“My encouragement to people looking to buy is, there isn’t a better time to come out to an auction and show your hand.”

Mr Tzamalis added “buying real estate was never an easy thing” but advised househunters to turn up and bid with confidence for their desired property.

“Everyone is in the same boat, whether you’re a young family or an investor,” he said.

For sellers, he encouraged thinking about “what you want to do” and not getting caught up in the market hype.

“Timing is a luxury but sometimes it’s asking why you’re selling and do you want to sell now,” Mr Tzamalis said.

“There is always a buyer for your property.”

Mr Tzamalis will also be at the helm of this year’s Good Friday Appeal charity auction, which raises funds for the Royal Children’s Hospital, where he is hoping for a million-dollar sale.

Melbourne’s autumn auction market is predicted to remain steady. Picture: Nicki Connolly

This year’s house – a fully furnished four-bedroom, three-bathroom Vogue 34 donated by Henley – is in Sunbury’s Redstone Estate on land gifted by Villawood.

“I’ve set a hard task for myself and to those around me: let’s aim high and go for a million-dollar sale for the first time in history (of the Good Friday Appeal auction),” Mr Tzamalis said.

“And if we fall short, we’ll still achieve a great price. That’s all we can endeavour to do on auction day.”

Last year’s charity house in Wollert sold for a record $903,000 and rocketed Henley’s RCH donations to more than $17m over the past 30 years.

Mr Tzamalis said it was an honour to lead the sale, with the cause close to many Victorians’ hearts.

“You never want anyone to have to be affected (by something) that leads them to the point of needing the RCH. But it reminds us how lucky we are in this country, particularly this city,” he said.

source: rea.com.au

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