Get the most out of spring

Spring has sprung and that means the property market is also heating up.

Although stock levels remain low as we come off a correction period, you should start to see more ‘for sale’ signs dotted around your neighbourhood, as spring is traditionally the most popular season to buy or sell a home.

Last spring 7749 homes sold via private sale in regional Victoria compared with 519 using the auction method.

If you are contemplating putting your property on the market this season, you need a plan to get the best possible result.

The first step is to find the right agent: do you research, ask around, pop into your local agencies to get a sense of their approach and feel free to ask questions. The REIV recommends prospective vendors get appraisals from at least three agents from competing agencies and consider how they stack up.

An appraisal will outline an estimated selling price (usually based on recent sales in the area and market trends), marketing and advertising campaign options and commission fees. Remember the cheapest agent isn’t always the best.

A skilled and experienced agent will be able to negotiate a sale with one or more interested buyers and will have access to a database of potential buyers who may have missed out on a similar property in your neighbourhood.

REIV members are well educated, trained and informed, with access to the most comprehensive market information including quarterly median house prices, auction results and legislative updates. It is a condition of membership for all REIV members to have professional indemnity insurance.

You can search for an REIV member at reiv.com.au.