Why Home Sellers in Victoria Should Not Use a Sellers Advocate
/A sellers advocate is a person who is hired by a home seller to represent their interests during the sale of their property. They are typically former real estate agents who have turned to the advocacy side of the business.
There are a number of reasons why home sellers in Victoria should not use a sellers advocate.
1. They are not legally required to act in your best interests.
Unlike real estate agents, sellers advocates are not legally required to act in your best interests. This means that they can put their own interests ahead of yours, such as by recommending a real estate agent who will pay them the highest commission.
2. They may not have the experience or knowledge to properly represent you.
Many sellers advocates are former real estate agents who have only been in the business for a short period of time. They may not have the experience or knowledge to properly represent you in the complex and ever-changing real estate market.
3. They can be expensive.
Sellers advocates typically charge a fee of 1-2% of the sale price of your property. This can add up to a significant amount of money, especially if your property is worth a lot of money.
4. They can create conflict with your real estate agent.
Sellers advocates and real estate agents often have different goals. Sellers advocates want to get the highest possible price for your property, while real estate agents want to get the property sold as quickly as possible. This can create conflict between the two parties, which can make the selling process more difficult.
5. You can do it yourself.
There is no need to use a sellers advocate. You can do everything yourself, including finding a real estate agent, setting a price, and negotiating offers. This will save you money and give you more control over the selling process.
If you are considering using a sellers advocate, I urge you to reconsider. There are many reasons why you should not use one. Instead, I recommend that you do your research and find a reputable real estate agent who will work hard to get you the best possible price for your property.
Here are some additional tips for home sellers in Victoria:
Get multiple appraisals from different real estate agents. This will give you a good idea of the market value of your property.
Set a realistic price for your property. Don't overprice it, or you may scare away potential buyers.
Stage your property to make it look its best. This will attract more buyers and help you get a higher price.
Be prepared to negotiate. Buyers will often try to negotiate the price of your property. Be prepared to compromise in order to get a deal done.
By following these tips, you can sell your home for the best possible price without using a sellers advocate.