Vendor Advocacy Services: Online Portals vs Hands-On Advocates

Not all vendor advocacy services operate in the same way.

For property sellers considering a vendor advocate, it is important to understand the different service models available. Some services use online platforms or portals to streamline the selling process, while others provide a more personalised, hands-on service with an experienced advocate directly involved in the major decisions.

Understanding the difference can help you determine which type of vendor advocacy service is most appropriate for your property and circumstances.

What Are Vendor Advocacy Services?

Vendor advocacy services are designed to represent and support property sellers throughout the selling process.

Depending on the provider, the service may include assistance with selecting a selling agent, negotiating agent fees and commission, reviewing marketing recommendations, providing advice during the campaign and helping the seller make informed decisions.

However, the level of involvement can vary considerably.

This is why it is important to look beyond the term “vendor advocate” and understand exactly what the service provides.

Types of Vendor Advocacy Services

Broadly, there are two different approaches to vendor advocacy:

1. Online or portal-based vendor advocacy
2. Hands-on, personalised vendor advocacy

There can be variations within each model, but the key difference is the level of personal involvement and advice provided to the seller.

Online Vendor Advocacy Services

Online vendor advocacy services generally use technology to manage or streamline elements of the selling process.

An online vendor advocacy portal may allow sellers to access information, compare agents, review recommendations, communicate with their advocate or monitor aspects of their campaign online.

Technology can make information easier to access and can provide a convenient way of managing certain parts of the selling process.

However, an online platform is primarily a tool. It does not necessarily provide the same level of personal advice, judgement or involvement as an experienced advocate who is directly engaged with the seller and the selling agent.

What Does an Online Vendor Advocacy Service Typically Involve?

Depending on the provider, an online service may include:

• Online access to selling-agent information
• Agent comparisons or recommendations
• Digital communication
• Access to campaign information
• Online documentation
• Automated or structured processes
• Remote support

The precise services and level of personal involvement will vary between providers, so sellers should understand what is included before making a decision.

What Is a Hands-On Vendor Advocate?

A hands-on vendor advocate takes a more involved approach to representing the seller.

Rather than relying primarily on an online platform or automated process, the advocate works directly with the seller and the selling agent throughout the property sale.

This can involve attending meetings, discussing strategy, challenging recommendations, negotiating with agents and providing ongoing advice as circumstances change.

The advocate becomes directly involved in the decisions that can influence the selling campaign.

What Does a Hands-On Vendor Advocate Do?

A hands-on advocate may assist with:

Selecting the selling agent
Assessing prospective agents, their experience, proposed strategy, fees, commission and suitability for the property.

Negotiating fees and commission
Negotiating the commercial terms of the agent’s appointment on the seller’s behalf.

Reviewing the marketing strategy
Assessing recommendations relating to presentation, photography, advertising, campaign timing and other marketing considerations.

Managing the relationship with the selling agent
Maintaining an ongoing dialogue with the agent and monitoring how the campaign is progressing.

Challenging recommendations
Providing an independent perspective when recommendations are made by the selling agent.

Interpreting market feedback
Helping the seller assess buyer feedback, offers, pricing discussions and proposed changes to the campaign.

Supporting important decisions
Providing experienced advice when decisions need to be made throughout the selling process.

The important distinction is that the advocate is actively involved rather than simply providing access to information through a portal.

Online Vendor Advocacy vs Hands-On Vendor Advocacy

When undertaking a vendor advocacy service comparison, it is useful to consider more than just the headline fee.

Neither model is necessarily suitable for every seller. The important question is how much involvement and personal advice you want from your vendor advocate.

Why Does the Level of Advocacy Matter?

Selling a property can involve decisions with significant financial consequences.

Choosing the right selling agent is only the beginning. Sellers may subsequently need to make decisions about marketing expenditure, pricing, campaign strategy, buyer feedback, offers and negotiations.

An online system can make information accessible, but some sellers may value having an experienced professional available to discuss the circumstances, question recommendations and provide a considered opinion.

This is where the distinction between access to information and active representation becomes important.

What Should You Consider When Choosing a Vendor Advocacy Service?

When choosing a vendor advocacy service, consider asking the following questions:

1. Who Will Actually Advise Me?
   Will you deal directly with an experienced vendor advocate, or will most communication take place through an online platform?
   
2. How Is the Selling Agent Selected?
   Does the service simply provide a list of agents, or does the advocate personally assess which agents are appropriate for your property?
   
3. Who Negotiates the Agent’s Fees?
   Find out whether commission and other agent fees are negotiated on your behalf and who conducts those negotiations.
   
4. How Much Involvement Will the Advocate Have?
   Ask what happens after the selling agent is appointed.
   Will the advocate remain involved throughout the campaign, or does their role largely finish once the agent has been selected?
   
5. Can the Advocate Challenge the Selling Agent?
   A useful vendor advocate should be prepared to question recommendations where appropriate and provide an independent perspective.
   
6. How Is the Service Paid?
   Understand the fee structure before engaging a vendor advocate.
   Ask whether the service is fixed-fee, commission-based, referral-based or structured in another way. It is also important to understand whether the advocate has any financial relationship or affiliation with the recommended selling agents.

Independence Matters

One of the key considerations when comparing vendor advocacy services is independence.

A vendor advocate is engaged to represent the seller, so sellers should understand whether their advocate has affiliations, referral arrangements or other commercial relationships with real estate agencies.

An independent advocate should be able to assess agents and strategies based on their suitability for the seller and the property.

For sellers, transparency around how the advocate is paid and whether they have any agency affiliations is an important part of the decision.

Vendor Marketing: Hands-On Vendor Advocacy in Melbourne

Vendor Marketing provides hands-on, independent vendor advocacy in Melbourne, working directly with property sellers throughout the selling process.

Rather than simply providing an online vendor advocacy portal, Vendor Marketing provides personalised advice and representation, with direct involvement in the key decisions surrounding the sale.

This includes helping sellers:

• Select the right selling agent
• Assess competing agent proposals
• Negotiate agent fees and commission
• Develop an effective marketing strategy
• Manage the selling agent
• Challenge recommendations where appropriate
• Assess campaign progress and buyer feedback
• Make informed decisions throughout the selling process

Led by Principal Advisor Craig Knudsen, Vendor Marketing specialises in property marketing and real estate agent selection, providing sellers with independent advice and representation.

Unlike a real estate agent, a vendor advocate does not sell your property. The role is to work on the seller’s behalf and provide an independent perspective throughout the sale.

Choosing the Right Vendor Advocacy Service

There is no single vendor advocacy service that will suit every seller.

For some sellers, the convenience of an online platform may be appropriate. Others may prefer the reassurance of having an experienced professional personally involved in the sale.

The key is to understand what you are actually receiving for the service fee.

Before engaging a vendor advocate, consider the level of personal involvement, independence, agent selection process, fee negotiation, ongoing campaign support and access to professional advice.

Ultimately, the difference between simply having information available to you and having an experienced advocate actively representing you can be significant.

Most sellers only sell property a few times in their lives. Having an experienced advocate on your side can help ensure every decision is carefully considered.