Frequently Asked Questions
Getting Ready For Sale
Should we do maintenance or renovations prior to selling OR sell it as it is?
When a potential buyer walks through your property, you want them to focus on their future in your home, how their furniture is going to fit and where there kids are going to play.
Visible property wear and tear OR maintenance problems make some buyers think about money, who is going repair the issue and do they want to inherit the problem.
If requested, our vendor advocates can assess maintenance issues or the necessary renovations that need to take place for pre-selling campaign.
What is the best method of sale?
Our vendor advocates have been real estate agents and have applied all methods of sale (auction, private treaty or tender) to different selling campaigns to achieve the best result.
Factors that determine the method are:
- How strong is your local market preforming?
- What is the auction clearance rates in your area?
- Which method of sales are the local real estate agents using?
- How unique your property is to the local area?
Can you assist in finding a conveyancer, solicitor and or building and pest inspector?
We have a network of conveyancers, property solicitors and building inspectors that we partner with.
Should I pay for a building and pest inspection?
In Melbourne there are no laws making sellers provide this kind of report. If your house is structurally sound, a building and pest inspection report can be used as a tool to combat objections buyers might have about your property, hence increasing bidding competition.
Selling
How do you select the best-selling agent for my property?
Prior to interviewing a real estate agent, we evaluate their statics, much like local a football coach evaluates players. We look at:
- How many sales they have closed and how good was the price achieved.
- How many active sales does the agent manage.
- What has been their activity over the last 30, 60, 90 days.
- Which method of sale are they using?
- Do they offer buyers private inspections?
- An agent’s online profile around reviews and social media accounts.
How do you work out the price of my property?
We follow is a 3-step process after we inspect your home.
Step 1: We refer to recent sales of similar homes in your local area.
Step 2: Evaluate how strong the market is in your area.
Step 3: Which type of buyers are attracted to your type of property.
Commissions or fixed rate?
The real estate industry is accustomed to charging a performance-based incentive for work preformed, this is call a commission. Many times, this is not the best method.
Our method improves on the commission model, by using tiered, fixed rates of pay that are only earned when performance targets are achieved.
With this model, if a real estate agent misses a target, they don’t earn any extra incentive for coming close. Hence, each buyer interaction will be more strategic and purposeful.
Do Vendor Advocates Melb look at all advertising on our behalf?
Marketing is the most effective tool to draw buyers to your property. Hence, the marketing campaign needs an experienced eye to make your marketing dollar work hard. Informative broachers, excellent photos and most importantly, the right digital marketing.
This doesn’t necessarily mean spending more money, it’s about being effective with the budget we have.
Should I furnish a vacant property?
Over the last decade there has been an explosion in selling property with furnished homes. Why? Because it achieves better results.
A buyer’s first impression on your home can be influenced by:
- a smart colour scheme that’s working through the furniture.
- small furniture can make a small room look functional.
- Distract buyers from property wear and tear.
Do we sell a property with tenants?
Legally, if a tenant is in a fixed contract the landlord has no choice but to sell with a tenant. Many times a tenant can be negotiated out of a property with a cash incentive.
If a tenant wants to fulfil their lease contract our vendor advocates will provide feedback on the possibility of proceeding with the current tenants.
More FAQ’s On Our Service
Do we just sell commercial property?
No, we specialise in residential property only.
How much do you charge?
Our agency offers two fee models:
Fee model 1: Fixed rate payed up front by the property seller. We do not receive any payment from the real estate agent’s fees.
Fee model 2. Our fee is paid from a portion of the real estate agent’s commission, the property seller pays nothing more for our service.
There are pro & cons to both models, we determine the best method for you after our first complementary meeting.
What is the next step?
If you’re considering selling, one of our advocates can arrange a time to discuss your property selling needs.
