Buyer’s advocate
A buyer’s advocate is independent and does not work for a real estate agency. A buyer’s advocate is not beholden to a company or is biased towards a firm’s listings. A home buyer could be independent but when there is help from a buyer’s agent, it would be easier to find and buy the ideal home you might be looking for. The buyer’s advocate is independent. They have no specific complications, vested interests or any need to play the middle man between the buyer and seller. As the name suggests, a buyer advocate completely represents the buyer.
They aim at achieving a transaction for the lowest price possible with the help of negotiation with a real estate agent or by bidding at an auction on behalf of the buyer. A buyer’s advocate doesn’t direct a buyer towards a pool of listed stock that is held by a real estate agent or has any vested interest in a real estate company selling a property.
Vendor’s Advocate
A vendor advocate would save you thousands of money by negotiating a competitive selling commission with the agent, upgrading and interior styling, helping in increasing the sale price through repairs, arranging presale pest and building reports, visiting the open homes and dealing directly with the agent on your behalf throughout the entire process. Transparency and honesty are the highest core values they could offer. They are also specialised in keeping the agent motivated and focused to achieve a great result. The vendor’s advocate works solely for the seller.
Preparing your home for sale could be a time consuming and daunting task especially when you have lived in the home for many years. You could provide detailed recommendations on what needs to be done so that the home appeals to the maximum number of home buyers. They would help increase the sale price through effective property presentation which could be an important step in the vendor advocacy process.
Once you spent a considerable amount of time preparing the property for sale, the last thing you should worry about is whether you could trust the real estate agent or not. You might have a doubt in mind about how to identify which agent is going to do the best job for you. A vendor advocate never makes a decision completely on which agent has the cheapest fee, the highest market appraisal or is the nicest person. They make use of extensive industry knowledge and many years of property experience combined with a strict interview process to make sure that you make the right choice. The benefits never stop there.
Having a vendor advocate by your side removes the stress of having to directly deal with the real estate agent as they take care of this for you. Many agents might be more interested in making a quick sale rather than achieving the best possible price. When you are working with a vendor advocate, you would never feel pressured and would always receive honest feedback and unbiased advice.
Just as Buyer’s advocacy has changed the way people purchase a property, vendor’s advocacy is changing the way people sell a property. If you are thinking of selling your property soon or planning to buy a property, you could reach out to a real estate professional and discuss your requirements, location, budget etc. However, if you aim at selling your property, you could speak to a Vendor Advocate and ask for suggestions or renovate certain areas within the house to increase its value in the real estate market.
