Choosing the right agent is crucial

While an improving property market may be making life easier for sellers, there's a significant financial benefit that occurs in choosing the right real estate agent, according to director of Consumer Affairs Victoria, Claire Noone.

Negotiating commissions, fees and marketing expenses are steps that many don't always necessarily undertake.

“Selecting the right agent, working with them to market your property and negotiating the commission and advertising expenses will save you money and help avoid problems,” Noone said.

With more than 10,000 licensed agents across Victoria, Noone recommended the following steps:

- Find those with local area knowledge

- Get several to appraise your property

- Do not just choose the agent because they've given you the highest estimated selling price

- Consider marketing plan, commission, advertising costs and other outgoings

- Do not sign a sales authority unless you're ready to engage the services of that agent - there is no cooling-off period after signing a sales authority

Over the 2012/2013 financial year, Consumer Affairs Victoria received 5,850 enquiries and 745 compaints about real estate agents.