A property transaction is like a big machine, with many moving parts that do different things but should each spin in harmony to get the job done.
There’s the real estate agent, responsible for handling the sale of the property.
Sometimes there’s a buyer’s agent, who represents the person buying the property.
There are lawyers involved to check the contracts, as well as some other smaller but vital cogs of the motor, like building inspectors, staging stylists and more.
But there’s also an increasingly prominent piece that more and more sellers are relying on – a vendor advocate.
What do they actually do, and do you need one for the sale of your property?
How does a vendor advocate actually work?
Short of dying or getting a messy divorce, buying and selling real estate is perhaps one of life’s biggest events.
There’s a lot at stake. The number of hoops you have to jump through is high. The potential to mess it all up is quite high, too.It gives me a headache just thinking about some of those more stressful parts of the transaction.
A vendor advocate is a person you enlist to take the angst out of selling your place by essentially taking care of everything for you.
Before you put your property on the market, they’ll find out what you’re hoping to achieve and then go search for an agent that’s right.
They’ll usually come back with a shortlist that you meet with to make the final decision.
They negotiate the commission, review the marketing plan and budget and make sure all the boxes are ticked.
Should you go to auction or not?
Do you need one of those whizzbang video tours to go with the online ad?
Do you need a few incentives to combat a flat market?
Are you asking for a reasonable amount?
They’ll advise you on those questions and more. They’ll then keep an eye on the agent’s performance and evaluate how successful the campaign is.
A good one will check in regularly, providing updates and recommendations on what you should do.
How much are they?
Here’s the kicker. The vast majority of them are free! Yes, free – zilch, zip, zero dollars.
The vendor advocate does a lot of the work before the selling agent is enlisted, so they’re handing over a fully prepared sale that’s good to go.
They also take care of some of the paperwork and all of the communication with you, so it’s cheaper and easier for the sales agent.
They shave off a bit of the sales commission they get from you and give it to the vendor advocate, so you don’t have to pay them.
Vendor advocates vs real estate agents
Most vendor advocates are licensed real estate agents but they’re not a replacement for having your own sales agent.
You’ll still have an agent handling the sale of the property.
The vendor advocate is kind of like your independent voice in the scenario. Imagine you’re a celebrity – they’re your agent, thrashing out behind the scenes to make sure you’re getting the best deal, leaving you to simply smile and look pretty.
Whether or not you need one is up to you.
If the idea of outsourcing all of that hassle to someone is appealing, then it can’t hurt to have someone in your corner.
If you’re a bit of a control freak who can’t relax unless you’ve handled every single detail… maybe not.
Note: They’re not created equal!
Like anyone you’re entrusting to be part of your real estate journey, you should ensure the vendor advocate you choose is properly qualified and reliable.
Tips: Ask for references or testimonials, ask lots of questions and do a bit of research on the firm.
Metropole Vendor’s Advocacy Service is a special no extra cost service to property sellers shielding 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 buyers 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.
6 step process to get you the best price
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.
We will:
- 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.
We charge the Selling Agent a percentage fee based on the sale price of your property which comes out of their commission when the sale is made. This means that you get our service at no extra charge, but that it is in all our interests that you get the best possible price.
If you want someone you can trust to relieve you of the process of dealing with the Selling Agents give Metropole click here now, leave your details and we'll be in contact.
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!
