Auctions can bring out the best—and the worst—in first home buyers.

In this episode, we pull back the curtain on the common mistakes buyers don’t realise they're making, from freezing too early to getting swept up in the heat of the moment.

Joined by auctioneer Peter Burgin, Meighan and Veronica unpack the real psychology of auction day and why so many people walk away saying, “We should’ve gone one more”—or worse, “What did we just do?”

You’ll hear why setting your limit isn’t the same as hoping for a certain price, how to pressure test your numbers before you show up, and why losing a property for the wrong reason is one of the biggest regrets buyers carry. The trio also explore the danger of relying on well-meaning but uneducated friends, the emotional traps auctioneers see every weekend, and how preparation can be your biggest advantage.

Peter also shares the telltale signs he uses to read bidders in real time, from the subtle body language cues to the moments he sees buyers unintentionally encourage competition. You’ll learn the truth about $1,000 bidding wars, the power of a thoughtful knockout bid, and how confidence (real or perceived) shapes the behaviour of everyone in the room.

If you’re planning on bidding at your first auction, or you’ve walked away from one feeling defeated or confused, this episode will help you feel grounded, prepared, and in control.

01:14 — Meet the Expert: Peter Burgin

03:17 — Behind the Scenes: Agent and Auctioneer Roles

05:14 — Pre-Auction Preparations

06:28 — Auction Day Strategies From an Auctioneer

08:14 — Communication and Collaboration Between Agents and Auctioneer

18:46 — Rhythm and Moment During an Auction

20:35 — How to Mentally Prepare for Auction Day

23:37 — Open Yourself to Communication

25:07 — Types of Buyers During an Auction

25:49 — Mistakes to Avoid at Auctions

30:02 — Reading the Room as an Auctioneer

37:56 — Final Advice for First Home Buyers

1. THE First Home Buyer Course is our Step-By-Step, No BS Guide to Every Stage of The Home Buying Process – It’s the next best thing to having your own buyer’s agent. With our expert guidance, you’ll know what to do at every step along the way. Become a home owner faster and easier. Click here: https://homebuyeracademy.com.au/YFHBG

If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey!

1. Subscribe on YouTube: https://www.youtube.com/@TheFirstHomeBuyerCourse
2. Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/your-first-home-buyer-guide-podcast/id1544701825

Subscribe on Spotify: https://open.spotify.com/show/7GyrfXoqvDxjqNRv40NVQs?si=7c8bc4362fab421f

A property that ticks every box. A sunlit living room that opens onto a leafy backyard. A quiet street that’s somehow still walking distance to the best cafés and the train station. For many Australians, that’s the dream first home—the one that feels like it was made just for you.

But here’s the truth: relying on luck to find "the one" could be the reason you end up with a property that hamstrings your future.

In this episode, Veronica and Meighan pull back the curtain on their own first property purchases. They get vulnerable about the cringeworthy "rookie mistakes" they made—from buying with emotional blinkers on to getting lucky in a rising market without having a real strategy. They explain why your first home is the foundation of your entire journey and why one misstep today can cost you a decade of progress tomorrow.

You’ll learn how to tell a "smart" buy from a "lucky" one (hint: luck isn't a strategy you can repeat), why generic advice from ChatGPT or well-meaning family can lead you down the garden path, and how to identify the opportunity cost of a bad first purchase.

From the dangers of buying in the wrong market cycle to the power of the PACE mindset, this episode will give you the 20/20 hindsight we had to earn the hard way—and give you the clarity to move from a "hope and pray" buyer to a confident, strategic homeowner.

00:00 — Introduction: The Excitement and Pitfalls of Buying Your First Home

01:56 — The Importance of Process and the PACE System

04:30 — Exposing the Worst Advice First Buyers Get

11:08 – Understanding Property Value and Pricing

13:15 — Renovation Realities and Regrets

15:55 — The Role of Real Estate Agents

17:33 — Financing and Hidden Costs

22:13 — Long-Term vs. Short-Term Planning

25:40 — The Impact of Your First Property on Future Purchases

27:56 — Conclusion: Luck is Not a Strategy

1. THE First Home Buyer Course is our Step-By-Step, No BS Guide to Every Stage of The Home Buying Process – It’s the next best thing to having your own buyer’s agent. With our expert guidance, you’ll know what to do at every step along the way. Become a home owner faster and easier. Click here: https://homebuyeracademy.com.au/YFHBG

If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey!

1. Subscribe on YouTube: https://www.youtube.com/@TheFirstHomeBuyerCourse
2. Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/your-first-home-buyer-guide-podcast/id1544701825

Subscribe on Spotify: https://open.spotify.com/show/7GyrfXoqvDxjqNRv40NVQs?si=7c8bc4362fab421f

What if we told you that relying on AI for your property research could cost you hundreds of thousands of dollars?

In this episode, we’re joined by Mike Mortlock, Managing Director of MCG Quantity Surveyors, to unpack shocking new research that proves tools like ChatGPT are getting property advice spectacularly wrong.

With nearly half of Gen Z and Millennials already using AI for financial decisions, we’re looking at a real danger sign. We discuss why AI creates "hallucinations," invents data, and completely misses the mark in fast-moving markets like Brisbane and Perth.

Here’s what we cover and why it matters:

1. The ChatGPT Stress Test: How AI failed to identify the right property asset types even when provided with expert data.
2. Data Hallucinations: Why AI "invents" new suburbs or uses outdated information that can lead to financially devastating choices.
3. The Human Element: Why a chatbot can’t replace the lived experience of professional buyer's agents or quantity surveyors.
4. Protecting Your Money: How to spot the difference between marketing fluff and actual property facts.

Don't let a chatbot gamble with your future. Listen now to learn how to keep your property journey human-led and data-secure.

00:00 — AI’s $100k Mistake: Why Chatbots Fail the Property Test

01:29 — The Alarming Truth: Why 50% of Gen Z Trust Flawed AI Advice

04:39 — Logic vs. Luck: Why AI Picks the Wrong Property Types

06:45 — Garbage In, Garbage Out: Why AI Research Is Only Half-True

08:20 — The "Poo on a Stick" Trap: Why AI Tells You What You Want to Hear

16:42 — Spotting Hallucinations: When AI Invents Fake Suburbs and Data

21:56 — Geography Lessons: Why AI Confuses SA3 Regions and LGAs

23:54 — Timing the Market: Why Outdated AI Data Misses the Boom

25:19 — Searching Smart: How to Use AI Without Risking Your Deposit

29:28 — The "A-Grade" Gap: What a Machine Can’t See During an Inspection

36:01 — Beyond the Code: The Legal and Financial Risks of Bot Advice

40:34 — The Final Verdict: How to Be a Decider, Not a Drifter

1. THE First Home Buyer Course is our Step-By-Step, No BS Guide to Every Stage of The Home Buying Process – It’s the next best thing to having your own buyer’s agent. With our expert guidance, you’ll know what to do at every step along the way. Become a home owner faster and easier. Click here: https://homebuyeracademy.com.au/YFHBG

If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey!

1. Subscribe on YouTube: https://www.youtube.com/@TheFirstHomeBuyerCourse
2. Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/your-first-home-buyer-guide-podcast/id1544701825

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