Vendor Advocate Service
Why Use Vendor's Agents?
The greatest fear a Home Seller can have is that the agent hasn't got you the best price and has done more for the interest of the buyer than you.
The inevitable consequence of employing the typical realtionship with a local agent whom deals with both buyers and sellers is the room for unfair representation.
The only way you can be certain that you employ an agent that purely acts for your interests alone, is to employ an agent that specifically works for the Seller and not with the buyers.
This is generally referred to as a Vendor Advocate, in Australia.
While the number of people engaging Vendor Advocate services is growing, the system of service and commission sharing structures of Vendor advocates recieve some criticism.
In the following paragraphs you will learn how using a professional Vendor Advocate will significantly improve and simplify the whole sales process, avoid costly mistakes and save your time.
Indentification of the Property's Market Appeal and Agent Criteria
You can't be sure that all agents will be upfront with you about your Property's true market appeal - Every agent will want to tell you they regularly deal with the buyers that your property will appeal to. The fact is that different agents have different market appeal and achieve best results within varying sections of the market place, getting caught with a mismatched agent can cost you thousands of dollars and wasted time.
We're different we will accurately assess your property's true market appeal because we have to then identify and recommend the best suited agents.
Identification of Accurate Market Value
You can't be sure that agents won't be motivated to tell you the value you want to hear and or inflate the figure to win your business. You also don't want to be under quoted out of your house. It also makes it hard when you receive opinions of price that vary between different agents who is right who is wrong.
We're different because we will accurately assess the true market value, our performance needs to be monitored against the sales result you achieve and if there is not an accurate target price achieved we can't expect a payment.
In most cases this process also includes an independent sworn valuation at our expense.
Identification of the Sales Expense Budget
What advertising is going to suit your property best, when is it over kill and when is it too little, what methods are the most effective and what is a complete waste of money. Which agent has it right and why do they all have a different approach?
We're different because we get paid as a result of making sure your advertising budget is 100% effective, we also guarantee that the chosen agents advertising will work or your money back.
Agent Interviews
- Do you have the time to interview three, four or more different agents?
- Do you understand their Jargon? Do you know when they are being straight with you?
- Do you know exactly what the important questions are? Do you want to save a lot of time and hassle?
Importantly the agent interviews will be conducted in a methodical and strategic manner that ensures from the very start your sale price is heading in the highest direction.
Agent Selection
Every agent will tell you that you should select them and they will have a lot of convincing arguments as to why. Some will be true others will have a bias of opinion and there may be many grey areas in between.
Selecting a real estate agent after a number of interviews is not an easy process - making sure it's the correct choice is even harder. Your input is important and is required to make a decision but the decision will be so much clearer and the selection of agent accurate because we have no bias other than making sure our fee is justified by your satisfaction at the end of the sale.
Negotiation of Agent Commission and Service Guarantee
There is no way a client of Real Estate Angel will ever end up using an agent that has left them feeling cheated or ripped off.
Our ability to negotiate with agents for a fair and reasonable commission structure that benefits the seller is a very high priority and with that goes a guarantee that the service provided will be of the highest standard.
If it is not we have the legal powers behind us to dismiss the agent, make null and void any agreements to sell through them and then claim any financial loss and or damages.
Performance Criteria
Performance Criteria is not just about the price result but also the service provided along the way. It also requires making sure that the best method of sale has been selected Auction, Private Sale, Tender, Open Listing, Exclusive, Multiple Agent there are many choices and all have a time and place for their effective use.
Making sure the correct method of sale has been selected is our business but it goes further.
Your sale price and our fee from you depends on the performance of the agent and the chosen sales process, As we will advise selection of the best suited agent it is then up to us to monitor and ensure that the agent and method of sale is working towards a price that guarantees your delight and that our fee has been worth well over twice its value.
- Is the house being treated with the right level of care and attention?
- Is all marketing material accurate and of the best standard?
- Are buyers having their phone calls returned and being assisted to view the house in its best light?
- Is the agent following up buyers?
- Is market feedback being provided at adequate levels and is it provided in the format specified?
We're different because we're not just employed to get you the best result but we also need to make sure you have the least hassle and inconvenience from the experience. We monitor the agent and marketing performance because you shouldn't be expected to do it - you're not in the day to day business of selling real estate and they can't objectively monitor themselves.
Property Documentation
How much time do you have to follow up on making sure all the paper work relating to the property is being prepared to an accurate and efficient standard?
Most agents will refer you to a solicitor to use but then it's up to you to get everything together and chase up the details.
When you use Real Estate Angel's vendor advocate service we make sure that the solicitor, bank, agent and all parties work cohesively together and that the sale runs as smooth as clock work.
Contract Negotiation
When the offers to buy your property do come in the typical real estate agent has a vested interest in making sure the transaction goes together.
Without a sale they don't earn their commission. There is an often discussed frustration of Sellers that at the time of negotiation the agent can appear to begin working harder for the buyer. In the case of Auctions the pressure of the big day can work unfavorably to wear you down.
Knowing the difference between an agent pushing for a sale and an agent pushing for the highest price is a tough challenge. It is also one that causes a lot of stress as it is at this point that there are potentially tens of thousands of your dollars at stake.
Real Estate Angel doesn't work on a commission basis and maintain an objective but vendor aligned position at the negotiation table. We only get paid if you are satisfied with the whole outcome and so at this point our position is to make sure that the agent has worked through every feature and benefit for purchasing the property and thus maximizing its sale price. While you may be skilled in negotiation if your expertise is not in real estate you can lose thousands of dollars at this point with the simplest of mistakes.
How we hope to help you
In every suburb there are multiple agent offices operating. Some have large sales teams, some a specific sales system and all are different.
It's important that they are different and the reason they can all exist is because not all owners, properties and conditions of a sale can be satisfied by the one agency.
It's making sure you choose the right agent for your sale that will determine the level of success you achieve.
Very astute investors and institutions that sell property will usually pay for the services of an independent advisor to negotiate with the agents that prepare the offer documentation.
By Australian standards this is considered an innovation in real estate service however in many parts of the world it is considered incomprehensible that a seller gives their property exclusively to an agency that acts for both buyers and sellers.
We hope that by reading the above you feel you may have found someone who can help with the confidence you require to take the next step in the sale of your home.
So if you are thinking of selling and don't know where to start, please call on 1300 781 901 and ask about our "Vendor Advocate Service" or complete the form below.
