Real Estate Agent Archive

Using a Vendor Advocate to Sell your Property

Real Estate 32How would a person go about selling a house? It is not an easy task especially if you have no tie or the knowledge of the property market. Busy people who want to sell a house won’t even have time to select the best Real Estate agent for the transaction.

In situations like the above the best option would be to hire a Vendor Advocate. Who is a Vendor advocate you may ask. However, the more important question is what is vendor advocacy?

Vendor advocacy is the term used when a person or company performs the service of bringing two suitable parties together for whatever transaction. As discussed in the first paragraph of this article many busy people have no time to source the best person to work with when selling a house. So how would they go into detail regarding the best rates to pay and the services offered by an agent? The Vendor advocate will sit down with you and in the course of the conversation take down all your requirements and details. He will then proceed to do your shopping for you. He will contact visit and negotiate rates and services with as many agents as he can.Real Estate 33

The vendor advocate will then come back to you with the best of the top few options for you. In most cases, a vendor advocate will not charge you any fee for his services. He will negotiate with the agents, and the agents will have to pay him for bringing you to them as a customer.

In today’s fast paced world we can hardly find time for ourselves, so it is a smart thing to have as much help as we can get. Remember it is always important to get the best deal possible no matter what the situation. We should not be accepting any offer because we don’t have enough time to go into details and search.

Our ultimate goal would be to get more money into our pocket from the sale, and a Vendor Advocate can help you achieve that.

How to select a Real Estate Agent

Real Estate 22When Buying a Home, the first thing you should do, even before you make your first call to a real estate agent is to fully understand the type of relationship you and the agent you hire will have. You need to know whether the agent is working for you as a client or for the seller.

The real estate agent represents someone in the transaction. The question is – “Who does the agent represent?”

When buying or selling a home, you need to know the real estate agency representation to which you agree to. An agent who is working at a new home construction site is typically working for and representing only the seller. Their loyalty belongs to the seller. That agent is obligated to gather as much information as possible about you in order to assist the seller in profiting from the transaction.

If you contact a real estate agent listed on the “For Sale” sign, they too represent and serve the seller. That real estate agent will make every effort to capture as large a profit as possible for the seller. As a buyer, under such circumstances, you are not represented. Only the seller is represented. If a home buyer wishes to be represented, the home buyer will seek a buyer’s agent. In this case, you will seek a buyer’s agent and enter into a “Buyer Agency Agreement” with a real estate agent.Real Estate 23

The services of a buyer’s agent are often at no cost to the buyer. The real estate agent agreement defines the compensation terms. The agreement should clearly spell out who is compensating the buyer’s agent. As a buyer, seek agreements that state compensation will be paid by the seller only. Under these circumstances, the real estate agent will serve you at no cost to you. A seller’s agent (firm) is glad to compensate the buyer’s agent. After all, the buyer’s agent was largely responsible for the sale.

In summary, a buyer’s agent provides you professional advice and counsel throughout the entire purchasing process at no cost to you.¬†You can go online and see who would best suit your needs. Check out the services they offer and if they would charge a fee from you as well. A small fee may keep the agent on your side during the transaction.