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Frequently Asked Questions

Vendor Advocacy

How can a vendor advocate assist me?

It can be very stressful analysing market conditions and managing the marketing strategies to maximise the selling price of your home. Using a vendor advocate can save you the time and stress involved in interviewing and selecting the right agent to sell your property.

Does a vendor advocate cost?

Vendor advocacy comes at no additional cost when you are selling your home. The vendor advocate fee is taken out of the agent’s selling commission.

How does a vendor advocacy service work?

Vendor advocates provide comparable sales in your area to provide you with independent advice on the value of your home. We interview and analyse each real estate agent’s appraisal and marketing schedules – saving you time and money. This includes overseeing and analysing the marketing strategy throughout the duration of your campaign and making any adjustments, if necessary. As your property advocate, we attend open inspections and provide total transparency with feedback on what buyers are saying about your property.

Can the vendor advocate assist you in preparing your home for sale?

We will provide independent advice on your home’s presentation and arrange an interior stylist to make recommendations, at no cost to you. Our service involves helping you to coordinate contractors to assist you with minor maintenance jobs to prepare your property for sale.

Will a vendor advocate be there for support on auction day?

Yes. On auction day, we will supervise the auctioneer, give recommendations on the reserve, structure vendor bids and be involved in any negotiations post-auction.

If the vendor advocate has a professional relationship with the agent, how will that assist me?

Maintaining relationships with real estate agents are a proven strategy to help get you the best possible price. Real estate agents understand that vendor advocates can help secure ongoing listings. This results in enhanced accountability between the agent and the property advocate.

Buyer Advocacy

How can a buyer advocate assist me?

We provide personalised, independent, professional advice to ensure you buy a quality property at the best possible price. Having a buyer’s advocates gives you access to specialist skills to assess properties and negotiate on your behalf. Our experience of the real estate market across metropolitan Melbourne gives you a competitive advantage and in-depth knowledge of the local area.

How does a buyer advocacy service work?

As professional buyer’s advocates, we conduct due diligence and assist you with the purchase process. By identifying your areas of interest and precise needs, we streamline the search process so you will no longer have to waste precious time after work or on weekends. Our strong relationships with real estate agents throughout the metropolitan and suburban suburbs of Melbourne will also provide you with exclusive access to off-market properties. We provide several service options and fee structures, including a full buyer advocacy service, due diligence and negotiation or bidding at auction only.

Can a buyer’s advocate help me save money?

At Melbourne Property Solutions (MPS) Buyer & Vendor Advocates, we independently appraise property and assess current market values by researching comparable sales, which giving you a benchmark for what the property is really worth. This can save you many thousands of dollars.

Will a buyer’s advocate deal with the real estate agent on my behalf?

A real estate agent’s job is to sell you a property for the highest possible price. High pressure sales techniques can be overwhelming for many home buyers who do not have the expertise to handle the maze of the property search. We have extensive negotiation skills that level the playing field and this will assist you in buying a property for the best price possible.

Can a buyer’s advocate bid on my behalf at auction?

Yes. Negotiating for your own property or bidding at auction can be a daunting process. Our experience in auction bidding is extensive, having bid and negotiated dozens of successful purchases for clients over many years. We will bid or negotiate on your behalf with a high degree of confidence and experience. On auction day, we create a presence when bidding that is often seen as intimidating for other buyers.

How are you independent?

As a fully Licensed Estate Agent, Mark Thompson is a completely independent property advocate. We encourage you to contact our references for more information.

What areas do you operate in?

We provide professional property advocacy services right across metropolitan Melbourne. We also specialise in suburbs such as Eaglement, Ivanhoe, Ivanohoe East, Watsonia, Montromency, Macleod, Eltham, Diamond Creekand Greensborough, where we maintain great relationships with local real estate agents.

How do we put a value on a property?

We substantiate our valuations of the property through comparable sales and expert judgement on the location of the property and other factors that determine it’s value.

What is the cost of my service?

Option 1
Most buyer’s adovcates charge between 1.8% – 2.5% of the purchase price of the property. We provide a fixed fee of $7,700 inc. GST, with nothing to pay upfront. We will continue our search indefinitely, until a suitable property has been secured for our clients. During the process, we will obtain a search criteria of what you are looking for and provide you with a shortlist of properties that meet your expectations. You will attend open for inspections initially and once you have found a property you are interested in purchasing, we will inspect the property immediately, conduct research into its value through comparable sales in the area and through RP Data research of the sales history. This is an important step to ensure agents are not underquoting to entice buyer interest or mislead the public on price expectations. Our research on comparable sales allows us to give you a more accurate indiction of what the selling price will be.

Option 2
Should you decide to locate the property yourself and engage Melbourne Property Solutions (MPS) Buyer & Vendor Advocates for the bidding or negotiation only, the fee would be $3,300 inc. GST, if successful. If the purchase is unsuccessful, a fee of $500 inc. GST is applicable per engagement.

Our service also includes researching recent prices in the area to guide you with the value of the property you intend to buy. We will inspect the property and provide you with comparable sales in the area you have searched. Investigating the reserve price for auction day, the level of buyer interest and plan bidding tactics for the auction is also included in our fee.