What does a Vendor Advocate do?

July 31, 2017
Suzanne Taylor

It’s a truth universally acknowledged that selling your property is one of the most stressful experiences in life. It’s a huge financial decision, as well as an enormous emotional undertaking.


There are so many decisions to make that can have a significant outcome on the sale price and it’s easy to become completely overwhelmed. The most crucial decision to make is choosing the right selling agent. Depending on who you select can have a major impact on the campaign and the result. It’s a big decision to make and that’s when a Vendor Advocate can help you.


What is a Vendor Advocate?
A Vendor Advocate is a licensed real estate agent who will act as your fully independent advisor to ensure you make the best decisions for the sale of your property. They will coordinate the sales process on your behalf and help you choose the right selling agent, and best of all, Vendor Advocacy is a free service.


How does it work?
Firstly, the Vendor Advocate will provide an unbiased and independent assessment of your property to understand its value and where it sits in the market.


Some Selling Agents can unfortunately inflate the value of your property in order to win your business, only to readjust to a lower, more accurate price once you’ve signed an agreement. A Vendor Advocate’s independent assessment will mean you fully understand the likely price your property will attract and avoid any unpleasant surprises.


After the Vendor Advocate has assessed your property, they will invite a group of local Selling Agents to conduct their own appraisals. These Selling Agents will be carefully selected based on their local presence and reputation, sales record and experience. The Selling Agents will provide their estimated selling range, marketing campaigns and commission for the Vendor Advocate to review.


The Vendor Advocate will present each of these proposals to you and recommend the best Selling Agent. They will provide the information you need to help you choose the agent that is the best fit for you.


The sales campaign
Once the Selling Agent has been selected, your Vendor Advocate will act on your behalf to negotiate the agent’s fee and commission with the aim of getting you the best value for money. The Vendor Advocate will also negotiate the marketing strategy with the Selling Agent to ensure you don’t pay for anything unnecessarily.


From there, your Vendor Advocate will work closely with the Selling Agent to coordinate the entire selling campaign. This includes (but is not limited to) organising open for inspections, providing feedback from buyers and presenting any offers received during the campaign.


Throughout this process you don’t actually have to do anything. The entire campaign is managed by the Vendor Advocate who will act in your best interests at all times right up until settlement of the property.


Why engage a Vendor Advocate?
Free Service: Vendor Advocates are paid by sharing the commission with the Selling Agent, so there is no fee to the vendor for this service.
Save Time: Vendor Advocates will save you time by coordinating the entire process for you. Although all decisions are ultimately made by you, you don’t have to do any of the heavy lifting.


Save Stress: Selling your property is obviously stressful. Engaging a Vendor Advocate to oversee the sales process alleviates the stress for you.
Independent Advice: Your Vendor Advocate acts in your best interests at all times, ensuring you have all available information to make the best decisions for your needs.


To find out more about Vendor Advocacy services, please contact National Property Buyers on 1300 500 555 or visit nationalpropertybuyers.com.au


Or call us in the office on 02 9517 1818, or email newtown1@mortgagechoice.com.au to discuss your options. Or, if you feel like dropping in at our office, we are now located at 557a King Street, Newtown NSW 2042. Be sure to share our blog on Facebook and let others join the conversation!

 

Posted in: Property market

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