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If you are planning to sell your property over this spring season, there are a few things to keep in mind.

It is advisable to use the services of a professional agent, as buyers in general prefer not to deal with the owner directly. In addition, buyers will not offer an owner accurate feedback about the state of their property and the changes that need to be made.

In addition, a good agent has more experience in negotiating prices and therefore has a greater chance of securing a higher price than can be achieved in a private sale.

Select your agent through a property appraisal process, of which you should secure at least three. After the agent gives you their price, ask them about the factors they considered to come up with that figure, their planned marketing strategy, and how many similar properties they have recently sold. Agent services will cost between 1.5 per cent and 3 per cent of the sale price plus GST.

Buyers in general prefer open houses as it is a property inspection without the pressure of a private appointment. Open houses also attract a large number of people, who would not have phoned or who were just passing by and might fall in love with the property. After the buyer makes their interest known, a private appointment is likely to follow anyway.

Owners are also discouraged from being present at an open house in order to encourage prospective buyers to have a good look and be able to imagine themselves living at the property.

Congratulations to Thomas for being our Staff Member of the Month due to his dedication and hard work.  Also, happy birthday to Michelle Valentic who has turned 40 today. The team are looking forward to birthday cake this morning!

Spring has now officially begun and it is the property high selling season. Vendors can always implement additional preparatory measures to make the selling of their property a smoother and more effective process.

This year, despite volatile markets overseas, the local economy remains strong, and industry experts are expecting buyer activity to increase at this time, however Melbourne’s stock levels are bound to rise as well, so how your property is presented to prospective buyers needs to be competitive.

The number one advice given by industry professionals is to observe the property market in your suburb, while paying close attention to auction results and the time it takes to sell the property in your area. If you prepare well, the process will be much less nerve-wracking and the result, while it can never be guaranteed, can be approximated. In this way, you will also find out how to best price your property.

Seeking independent valuation and advice on any upgrades which would enhance your particular property’s value is always a good idea as well. The first thing to do, is to de-clutter both inside and outside, as prospective buyers need to be able to imagine themselves in the property and be able to gauge the space it provides quickly. Any improvements should be strategic however, and add significantly more value to the property than their cost.

A closer look at the suburbs that had the most success with selling by auction compared with those that completed more sales through a private sale process reveals an accurate picture of the current property market in Melbourne.

According to the Real Estate Institute of Victoria, Northcote, Camberwell, Richmond, Windsor and Alphington were amongst the suburbs which recorded more than three out of five sales by auction in 2010.

They are all located within a 15 km radius of the CBD, indicating that auction sales are preferred in the the inner suburbs. All of these suburbs are also in the price bracket above the median price in Melbourne, demonstrating that properties at the high end of the market tend to be offered up for sale through an auction rather than a private sale. Recent June quarter data corroborates this observation, as the median house price at auction was recorded at $730,000, while at private sales it was $500,000.

The five suburbs that recorded 95 per cent of sales through a private sale include Pakenham, Point Cook, Werribee, Cranbourne and Melton, which can be classified as affordable growth suburbs.

The data shows that the auction clearance figures alone do not provide a complete overview of the market and demand levels on their own.