What is a vendor advocate?
A Vendors Advocate must be licensed under the Property Stock and Stations Act 2022. We are independent property professionals (not selling agents) who project manage the selling of your property. We assist in strategic planning through to selling agent selection, similar to how a mortgage broker helps you get the best home loan. We closely monitor the campaign and provide you with independent and subjective feedback to guarantee the best result for the sale of your property.
If it's free, how do you make money?
Vendors Advocacy is a completely free service to our clients as we are paid by the Selling Agent selected to sell your property. We aim to build the most comprehensive data base of Selling Agents and track their performance using analytics such as market dominance, record sale prices, if they have the most up-to-date industry knowledge, and if they're consistently delivering what they promise.
Do I have to deal with Real estate agents myself if I don't want to?
No. In short, you can have as much or as little interaction with the Selling Agent as you wish. We do narrow down the selection process so that you get to make the final decision on the Selling Agent you feel most comfortable with if you would like. By this point, we are very confident that whichever agent you select will be able to extract the maximum from the market for the sale of your property.
Once I have sold my property, could you assist me in purchasing my next property?
Yes, we have gained extensive experience over the past 30 years in the property sector. We have experience in the residential and commercial construction sector, property development, building consultancy, buyers agency and mortgage broking. Our network of trusted contacts is vast and most clients after experiencing our service, dedication and honesty will seek assistance from some of our affiliated services.
Why not go for the cheapest agent? The house sells itself
Sometimes the cheapest Selling Agent may be the best, but that’s not always the case. Sometimes if you pay peanuts, you get monkeys. We have found that new, hungry and intelligent Selling Agents will try and break into a market and one tool that they use to get people to give them a chance is low selling fees. In established markets more experienced Selling Agents will often command higher selling fees (commission rates). Some of the reasons may include superior service, larger support teams that free the lead agent up for the most important tasks like building rapport with potential purchasers, experience in reading the play and superior negotiation skills. The skill lies in selecting the agent that is likely to bring the highest net price to the seller. For example would you prefer to pay:
Inferior Selling Agent who charges 1.1% inc GST on a sale of a property at $1,200,000 ($13,200 inc GST commission) Net = $1,186,000.
Superior Selling Agent who charges 2.2% inc GST but maximises the sale and achieves $1,260,000, 5% more than the inferior selling agent ($27,720 inc GST commission) Net = $1,232,280.
In the example above even with double the selling fee, the more expensive Selling Agent with only slightly better negotiating skills has achieved an additional $46,280 for the seller.
Is it worth styling my home?
Styling can often achieve results in excess of 10 times your investment in styling. It often makes the property look larger, broadens the market appeal and often increases the competition on a property. It may not be necessary if you are selling a ‘renovate or detonate’ asset, of the property you are selling had development potential.
How does an understanding of development potential affect selling strategy and agent selection.
Our experience in the construction and development sector is essential in strategic planning. We have seen property purchases from agents in the past who had no idea of the true value of the asset they were selling. Later on sellers were shocked to see their homes re developed into medium density developments. We can assist you in making sure that the highest and best use for your site is understood prior to selling.