Would you benefit from using a vendor’s advocate?

You’ve heard of buyer’s advocates leveling the residential property playing field by acting on behalf of purchasers.

And of course real estate agents have long been considered the vendor’s representative to a real estate transaction.

Now though, we’re seeing an increasing number of vendor’s advocates coming onto the scene.

So what do these industry professionals do, and would you benefit from using one when next selling your property?

I’m already paying a real estate agent

Vendors think that because they’re paying a hefty commission to the real estate agent they engage to sell their property; he or she will work hard to get the best possible price, in order to get the best possible commission.

Seems logical enough and by rights, is a fairly accurate assumption.agent house

But what if your agent is a little sloppy?

What if they’re happy with an okay commission and another run on the board, instead of achieving the optimum result for you?

It’s not uncommon for real estate agents to put pressure on vendors and even ‘condition’ them, in order to make a sale.

Initially, they’ll tell you what you want to hear.

You know…your home is worth $XXX.

Then after bringing a few ‘potential buyers’ through, they’ll suggest the market isn’t prepared to pay your asking price and you need to come down in order to ‘meet the market’.

In a slower moving buyer’s market in particular, this can mean being talked into signing a deal that represents less than what your property is actually worth.

Then there are agents who will let a vendor think they can achieve a higher price than is possible, just to get another listing on their books.

Meanwhile, your property sits with a For Sale sign in the front yard for an extended period.

So what will a vendor’s advocate do differently?

A good vendor’s advocate can help to alleviate some of the uncertainty and stress associated with putting your property up for sale and importantly, ensure you achieve the best possible result.

They can guide you through the entire process, from selecting a high performing selling agent, to providing advice on how to present your home for maximum buyer appeal and assisting with negotiations.

Their services can potentially give you peace of mind that you’re not paying too much for commissions and marketing fees.

An appropriately qualified vendor’s advocate who’s well versed on the area your property is located in, will also be able to inform you as to whether any improvements or renovations are required to achieve the price you want.

A professional advocate can answer questions like, ‘should I sell at auction or by private treaty sale’, and ‘with vacant possession or tenanted?’

As with any expert in the property arena, just make sure you qualify a vendor’s advocate before engaging their services.

Understand what it is you hope to achieve by having someone working with your best interests in mind and importantly, ask them all the same questions you would ask a buyer’s advocate to ensure they’ll look after you, including:

  1. What are your qualifications?
  2. How much experience have you had working in the local area?
  3. Can you provide referrals from past clients?
  4. Are you a licensed real estate agent?
  5. What type of results do you usually achieve?
  6. What type of knowledge and working relationship do you have with local real estate agents?
  7. What are your fees, how are they determined and what do I get for my money?
  8. Are you appropriately experienced in negotiating property transactions?

Selling an asset – be it your home or property investment – can be just as critical to your success in the real estate game as the act of buying one.

For this reason, perhaps it’s worthwhile to explore the services vendor’s advocates offer and think about how they might ease some of the stress, next time you enter the market as a seller.

By the way…

The team at Metropole Property Strategists is not only Australia’s largest buyers’ advocacy, we offer a no extra cost Vendor’s Advocacy as well.

property investment news june 16This professional service to property sellers shields you from many of the hassles of your sale.

When selling your property you want to achieve the best price with the least hassle.

Yet our experience as Australia’s leading property buyer’s agency shows many vendors don’t achieve an optimum sale price due to poor advice or pressure from their selling agent.

Now you can have an independent agent from Metropole on your side when you sell your property.

To achieve the highest selling price for your property, you need help finding the right agent to sell your property, as well impartial and strategic advice on the correct timing, the most appropriate method of sale, the most cost effective advertising campaign and the negotiation process.

Here is how the experienced agents at Metropole help you, the seller. We:

  • Sit down with you and determine your needs
  • Recommend the best agent (not agency) for you.
    We know the best agents and the worst agents as we have been buying from them on behalf of our clients for many years.
  • Check the agent’s fees and advertising recommendations to save you unnecessary expenses.
    Should you sell by auction or private sale?
    How much should you spend on advertising without wasting your money?
    We’ll tell you!
  • Monitor the selling agent’s performance.
  • Consider any offers made and give our recommendations to you.
    Then we’ll help negotiate on your behalf, giving you our input all the way.
  • Follow the sale through until settlement.
  • Our fee comes out of what the Selling Agent is paid, which means that you get our service at no extra charge.

If you want someone you can trust to relieve you of the process of dealing with the Selling Agents give Metropole a call now on 1300 203030 or complete the enquiry form here.

We are independent and work for you – we tell you the truth.

Isn’t that what you want?

It’s the most stress-free way for you to appoint a real estate agent!

Want more of this type of information?

Kate Forbes


Kate Forbes is a National Director Property Strategy at Metropole. She has 15 years of investment experience in financial markets in two continents, is qualified in multiple disciplines and is also a chartered financial analyst (CFA).
Visit www.MelbourneBuyersAgent.com.au

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