Spring is a highly anticipated season in the Victorian real estate market, particularly for auctions. With warmer weather and heightened buyer activity, many vendors choose this time to sell, making it one of the busiest auction periods. Navigating this market effectively requires a strategic approach for both buyers and sellers.
ProjectsNavigating the Spring Auction Market
Next ArticleNavigating the Spring Auction Market
Preparing Buyers and Sellers for Success
22 August 2024
Recent Marshall White data shows an increasingly healthy market across our core areas, with an impressive 85% success rate at auctions last month. Key inner suburbs are displaying particularly strong performance.
Tips for Buyers:
- Thorough preparation is crucial
- Research market values and recent sales
- Secure pre-approval and set a firm budget
- Observe auctions to understand dynamics
- Be ready for swift decision-making
- Develop relationships with local agents for potential off-market opportunities
- Have a clear post-auction strategy, including a walkaway price for passed-in properties
Tips for Sellers:
- Capitalise on heightened spring demand
- Choose an experienced auctioneer with local presence
- Invest in professional staging, photography, and marketing
- Set a realistic reserve price to encourage bidding
- Consult with knowledgeable local agents for pricing strategy
Success in this competitive environment requires more than luck. Buyers must be prepared, informed, and strategic, while sellers should focus on presentation, pricing, and choosing the right professionals.
As we enter spring, the market is set for increased momentum and intensity. For optimal navigation of the spring auction market, seek expert guidance tailored to your local area. Contact your local Marshall White team to leverage their extensive market expertise and ensure success this season.
