by Peter Mericka B.A., LL.B
Real Estate Lawyer
Qualified Practising Conveyancer Victoria
Director Lawyers Real Estate Pty Ltd
The 17th Annual “Best Practice Retreat” for estate agents will be held at the Sofitel Resort, Nadi, Fiji in July 2007. We note that one of the highlights of the conference will be advice on “Getting More Vendor Paid Advertising”.
Yes, estate agents have the opportunity to find out how to wring vendors dry as “Three of Australasia’s top 10% property consultants deonstrate the points of difference which enable them to enjoy a consistent vendor-paid success rate above 90%.” And they call this “Best Practice”?
What is “vendor-paid advertising”? and what does it mean when an estate agent can “enoy a consistent vendor-paid success rate above 90%” as described in the glossy Best Practice Retreat Brochure?
The guys at Zeroagents have described the ways estate agents operate, and the also provide a short explanation of Vendor-paid advertising:
Who made this declaration, and on what basis was it made?
“The owner has the added grief of being very aware, that they pay for the advertising, the sign, the internet, the brochure, which will attract the buyer that they then have to pay for again. Yes, that is exactly what occurs. Sounds quite stupid when you say it like that! The agent may throw it around they can organise a better sign or get a cheaper ad etc, but usually the owner is required to pay. They have training for this process as well. It’s called Vendor Paid Advertising.”