FREQUENTLY ASKED QUESTIONS
What is a Vendor Advocate?
A Vendor Advocate is a property expert (preferably a Licensed Estate Agent) who acts soley on your behalf and represents your interests totally when selling real estate (be it Residential, Commercial, Industrial or Rural). In short, the Vendor Advocate selects the best Agent, monitors the sale process ensuring that the vendors interests are respected / followed so as to achieve the best price, with the least amount of stress.
Who uses a Vendor Advocate?
Why use a Vendor Advocate ?
Because it saves time, money (often thousands of dollars), aleviates stress and gives Vendors peace of mind that they have someone professional beside them throughout the selling process. We are one of the very few Vendor Advocacy services that does not offer assistance to buyers as well. Our professional focus is to solely represent and look after our Vendor’s interests to the exclusion of all others. In doing so we can often save vendors unnecessary expense and ensure a smooth selling process, free of stress – comforting to know they have someone on their side…
Is there a cost in using a Vendor Advocate?
There is no cost to engage us as your Advocate to help you achieve the highest possible price for your property. The normal pre agreed and negotiated Agents commission / advertising is payable once the property is sold, however there is no extra cost for our services. We will get paid via a conjunctional arrangement with the selling Agent (we also make sure that the Agent doesn’t bump up his commission to allow for our involvement).
Why do Real Estate Agents like to work with Vendor’s Advocates?
Because, provided that all aspects of their appraisal proposal meets our (and the vendors) critera and approval, then they are offered the listing – probably a listing they wouldn’t have had in the first place….so to them it’s a bonus. Secondly and more importantly, the Agent knows that by achieving a top result, then there will be more listings/sales in the future. The incentive for the agent to perform well is massive.
Do all Real Estate Agents work with Advantage Vendor Advocacy ?
Very few don’t and those would be the ones I wouldn’t engage to sell my property in any case, as they would be uncomfortable with the scrutiny and level of co-operation required in order to achieve a top result. We only work with experienced and qualified Agents who have an extensive and proven track record in successful selling.
Are we restricted to selling property only in Melbourne?
No, quite the opposite – we sell regulary throughout Victoria (regional and rural) including the popular Bellarine and Mornington peninsula’s. We also sell interstate (especially NSW & Qld) as many vendors who live in Melbourne have investment properties/holiday homes along the eastern seaboard and when it comes to selling, they have no idea who to use – we do. We have an extensive data base to refer to.
Which is the best way to sell?
There are 3 ways to sell property : Auction, Private Sale or Sale by Set Date (often called Expressions of Interest or Deadline Private Sale – similar to a Tender). We need to implement the method that will achieve the highest possible price, as each method has distinct advantages. Location, type of property, age and condition of the property, amount of similar property on the local market and buyer demand, all need to be considered before making this decision.
Should we do any maintenance/renovations prior to selling?
Obviously we would need to inspect the property before giving this advice. Generally speaking, unless it is in extremely poor condition or is unsafe, then de-cluttering and a reasonably clean appearance is usually all that is required.
Is it best to furnish a vacant property for sale purposes?
Do we sell the property with tenants or with vacant possession?
If the tenants are on a lease then there is no choice…unless they agree to vacate. It is very important to keep the tenants “on side” (a rental reduction for the time the property is on the market can help to ensure their co-operation) during the sale process. Generally speaking, if their furniture and presentation (not cluttered, untidy or dirty) doesn’t detract or deter buyers from the property, then having them there has some advantages. It safeguards the property, provides rent, can save time (not having to issue the tenants a 65 day notice to vacate) and maintains the status quo. Again we would need to inspect the property before giving definitive advice.
Can we assist with the selection of a Solicitor/Conveyancer for the preparation of documents?
Yes, depending on location and if we can’t, then the Agent
that we appoint probably can. Several quotes should be
obtained before appointing either one.
If obtaining
some quotes for the conveyancing, it is prudent to clarify if
the GST and/or the cost of disbursements is included.
Do we just sell residential property?
No, we are able to assist with Commercial, Industrial and Rural property.
Advantage Vendor Advocacy Pty Ltd l ABN: 98 1538 3459 Phone: (03) 9571 5488 l E: richey@bigpond.net.au