This largely depends on location as some cities and suburbs seem to exclusively sell by auction, and others by private sale. Auctions offer transparency where you’re only paying one bid above the next would-be purchaser with no ‘cap’ on the end price. Private sales are trickier as you may be way above your next would-be purchaser but then, it may not keep going. For private sales, ask the agent what their offer process is as they differ. Make sure you know what the property’s worth and stick to your auction limit or offer price.