Positioning your property against the competition.
In any metro suburb across Melbourne or Sydney, there are hundreds of properties for sale that are competing for a small pool of buyers. To put your property ahead of the rest, a vendor advocate can give wise advice on:
– Property presentation: decluttering, conducting minor repairs or renovations and property staging.
– Pricing strategy & sales method: when your property hits the market, price is the main source of buyer interest. Therefore, an educated decision on which pricing approach will be most effective for the campaign. For instance, to use a single price, a selling range, sale by set date or an expression of interest. Depending on the local market, they will also decide on an auction or private negotiation
– Marketing: Professional photos, advertising on digital sites with high buyer traffic, advertising signage and running open for inspections when it is convenient for buyers. All these factors need to be perfect to make sure that your property doesn’t stay on the market too long and become a stale listing.
Vendor advocates bring balance to each of the above scenarios. How? They started their real estate careers as agents, and understand the ins and outs of selling property.
From staging your property for sale, organising an effective well-balanced advertising campaign, negotiating with buyers and making sure an estate agent behaves ethically.
The best part about vendor advocates is how they get paid. Vendor advocates take a percentage of the real estate agents commission once a sale is achieved. So in the end, there is no extra cost to the seller than there otherwise would be.
It’s unclear to most property sellers as to why someone might need a vendor advocate. It’s normal to assume a real estate agent will do all the work when selling, hence there is no need to complicate a complex process.