How to buy a property in a rising market

The Brisbane housing market is on a high at the moment. The median price has cracked the $600,000 mark and off-market selling is huge, with many properties not even making it to the listing stage. 


Wondering what this means to you as a buyer? 


Here are our five top tips for buyers:


1. Be diligent
Stay on top of market news and updates. Subscribe to property email alerts from services such as RealEstate.com.au and Domain.com.au to name a few. There are a host of online resources and industry newsletters that can provide advice and information on  the market. 


2. Be proactive in communicating with agents
Regularly call real estate agents in the suburb you want to buy. Build a relationship with agents who will then keep you top of mind for any properties that come onto the market, ensuring you get first pick. While it can take a couple of days to officially list a property, in many instances the good ones don’t even make it to the listing stage through word-of-mouth. 

 

3. Tap into social media
Follow your real estate agent and Mortgage Broker online on social media. Many give sneak previews of listings on Facebook, Twitter and Instagram, allowing you to see every property available, possibly before the listing is on the agent’s website. 

 

4. Lock in your loan
Make sure you have written pre-approval from your lender and mortgage broker. This shows the seller you are committed to buying a property and have the means to do so.

 

5. Dedicate time to the task
Make your property dream a priority. Freeing up time across weekends and weekdays is critical to making certain you cover all your bases when searching for property. Quality properties that reach listing stage are often selling within three days of being on the market. Keeping on top of what’s out there is vital to ensure you identify a great opportunity instantly and don’t miss out.

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