The concept of a vendor’s advocate is a relatively new one on Australian soil. Comparatively, they have been around for decades in the US. Their counterparts, the buyer’s advocate, have been in Australia for around 15 years. Each have a specific role to play in property transactions, but which one do you need on your team?
Vendor’s advocates are independent of the real estate agent in that they don’t sell property themselves. They offer:
- Written appraisals of the property, including comparative local sales, and other listings on the market to form an accurate market price range
- Advice and recommendations on reputable local real estate agents
- Advice on appropriate fees for the selling real estate agent
- Recommend the best methods for selling the property
- Advice about the marketing campaign
- Examining and screening buyers offers
Selling your home: a Vendor Advocates’ advice
When selling a home, there are two main things to consider: The real estate agent, and the marketing campaign. Both of which, will make or break the successful sale of your property. Without a good real estate agent, you mightn’t be getting the best advice. Without a good marketing campaign, you won’t reach the audience. Our Vendor’s Advocate, Mark Ribarsky, speak to us about how to approach these issues, and set your sale off to a roaring start.
Real Estate Agents
There are so many real estate agents out there, but how do you know which one is the right one for you? Mr. Ribarsky says, “The real estate agent selection process is not one to be overlooked. I have worked in Real Estate for a long time now, and believe me, they will make or break your success!” He goes on to say, “We believe that you should speak to at least three agents, and make your decision based on a few key points. These are; fees and commission structure, their valuation of the home, comparable sales in the area, what their pricing strategy is, the target market and what their marketing strategy is. We have a few key contacts in the real estate business, and our network of agents who we deal with regularly is the best of the best. They have been selected based on their merit and ability to achieve optimal results.”
The marketing campaign is essential in reaching a larger demographic of potential buyers. Buyers use a variety of advertising mediums in their property search. The selected agent will ideally use a broad range of outlets to market your property. Mr. Ribarsky says, “Advertising has changed over the last few years. Where we used to see lots of sign boards, and advertising in local newspapers, we have now seen the rise in the Internet and popular real estate websites as a common search tool. We have access to advertising on these lucrative sites, and believe that any agent selected must advertise via the Internet as well as through traditional methods, so as to not miss any audience.”
Utilizing a vendor’s advocate is particularly useful if you are needing impartial advice from someone who is on your team, and if you require someone to take care of everything for you. There is a need for vendor advocacy in Australia, and if you wish to receive the maximum return for your investment, why not consider hiring one today?