A lot of people have asked me what is a Vendor advocate and their role during the sale of a property.
A Vendor Advocate has an important role in helping the vendor who is selling a property obtain the best possible outcome including sale price, terms and relieving much of the stress placed on home sellers. This is done by having usually someone who has been a real estate agent before make the selection process on the right real estate agent to look after the sale of the vendor’s property.
Once the Vendor advocate has advised the vendor on the suitable candidate and the real estate agent has been appointed then the vendor advocate has a role to monitor the entire selling process. This would include being in constant touch with the selling agent, helping the Vendor with strategy and any hiccups, attending Auction day and being by the Vendor throughout any negotiation and bidding and helping the Vendor to establish a reserve price. The most important part of the process is that the Vendor advocate ensures the well being and best interests of the vendor are upheld during the entire selling process of ones property.
Often when a vendor is selling a property this can be their biggest asset and it's no surprise that more and more people are turning towards using a vendor advocate to assist them throughout the sale process.
If its your first time selling, you are not quite confident or simply do not want to deal with selling agents then a Vendor advocate could be ideal for your situation.
For more information visit our Sellers Service in our property services section for any additional Vendor advocate information!