When selling a property, vendors often rely on real estate agents to guide them through the process. However, one common pitfall is when agents promise an inflated price for the property that may not be realistic in the current market. This can lead to disappointment, wasted time, and the frustration of having a property linger on the market. The solution? Engaging a vendor advocate from the very beginning to ensure your interests are represented and your expectations are realistic.
When selling a property, it’s essential to work with professionals who have your best interests in mind.
The Problem with Unrealistic Price Expectations
It’s only natural for sellers to want to maximize their return on a property, especially if it holds sentimental value or has been a long-term investment. Unfortunately, some real estate agents promise high sale prices to secure a listing, sometimes without fully considering the current market conditions. While agents may have the best of intentions, setting an unrealistic price can result in a longer time on the market and potentially less interest from buyers.
An overpriced property can quickly become stale, and after price reductions, buyers might question why it hasn’t sold. This can ultimately impact the final sale price, leaving the seller with less than what they had hoped for.
Why Vendor Advocates Should Be Engaged from the Start
Rather than waiting until an agent has over-promised or the property is sitting on the market, engaging a vendor advocate from the start is the smartest move you can make. Vendor advocates are independent professionals who work exclusively in the seller’s best interest, providing expert advice and guidance throughout the process.
Here’s how a vendor advocate can help:
1. Objective Market Analysis from Day One
A vendor advocate brings an unbiased perspective to the table. They assess the current market trends and property values without any sales-driven agenda. By conducting thorough research into comparable sales and understanding local market conditions, a vendor advocate helps ensure that you’re starting with a realistic asking price, one that will attract serious buyers and maximize your chances of a sale.
2. Pricing Guidance and Negotiation Expertise
Vendor advocates don’t just stop at price research—they’ll also help you with negotiation strategies. They’ll ensure the price you agree to is fair for both you and potential buyers, and they can even negotiate with the agent on your behalf to make sure your expectations are met. This means you’re getting the benefit of two professionals for the price of one—an experienced agent handling the sale process, and an expert advocate overseeing all decisions, ensuring you're always in the driver's seat.
3. Preventing Pressure from Agents
Sellers can sometimes feel rushed or pressured by agents to sign listing agreements or agree to certain prices, especially if the agent is eager to secure the business. A vendor advocate acts as your trusted advisor, helping you assess all information before making any decisions. They provide peace of mind and ensure you’re not swayed by tactics designed to secure a fast sale, but rather, making choices that align with your best interests.
4. Managing Expectations and Setting Realistic Goals
One of the key roles of a vendor advocate is managing expectations. While agents may promise high prices to secure the listing, a vendor advocate works to ensure that your price expectations align with current market conditions. By having an expert on your side from the start, you’ll be in a better position to set a realistic price that attracts buyers and helps you sell in a timely manner.
5. Strategic Marketing and Property Presentation Advice
A vendor advocate helps you navigate the marketing process and can offer strategic advice on presenting your property to its best advantage. Whether it’s suggesting small improvements or helping you select the right agent for the job, their experience ensures that your property is shown in the best possible light to prospective buyers.
6. Ongoing Guidance Throughout the Sale
The support doesn’t stop once the property is listed. Vendor advocates provide ongoing assistance throughout the sale process. They’ll track progress, advise on negotiations, and ensure that your interests are always top of mind. This hands-on support can make a world of difference in a successful sale, particularly when challenges arise.
When selling a property, it’s essential to work with professionals who have your best interests in mind. While real estate agents bring valuable expertise in handling the sale, vendor advocates ensure that your expectations are grounded in reality from the very beginning. By engaging a vendor advocate from the start, you benefit from two professionals for the price of one—each focused on getting you the best possible outcome without the stress of over-promised prices or delayed sales.
At Walsh Brown Property, we offer vendor advocacy services that help sellers achieve their property goals with confidence and ease. If you’re thinking about selling, contact us today to learn how we can guide you through every step of the process. Get in touch with us today to discuss how we can help you navigate the property market with confidence! Visit our website or contact us at aly@walshbrownproperty.com.au or 0411771181.
*** Disclaimer: The information provided in this blog is intended for general informational purposes only. While we have made every effort to ensure the accuracy and reliability of the content, it should not be considered as personalised or professional advice. The homebuying process can vary based on individual circumstances, property types, and location-specific regulations.
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