Vendor Paid Advertising
Vendor paid advertising is real estate advertising paid for by the vendor, and commonly called VPA.
The question becomes, when is it actually real estate advertising and advertising the property, and when is it agent self promotion?
Vendors can sometimes be asked for many thousands of dollars upfront for Vendor Paid advertising or VPA. This can be in addition to also being charged real estate commission. We believe a property should be sold using professional photography, as part of a professional marketing campaign, however we don't believe it is necessary for a vendor of a normal home to be asked for many thousands of dollars upfront. For this reason even the basic Bricks and clicks marketing campaign, which is free, uses professional photography.
It is well known that most enquiry is generated through the internet and particularly realestate.com.au. So is it necessary for vendors to still be asked to pay money upfront for real estate advertising that includes print media?
Occasionally you will see an advertisement where an agent has sold the property the first day, or first week on the market. When seeing this there are two thoughts that spring to mind. One is, the agent has done his job and sold the property, the other is, was it really necessary to spend all that money and pay a large commission to receive this result?
Our view is that if the licensed real estate agent is confident he is able to sell the property for a good price then there should be no need for large expensive vendor paid advertising.
A professional agent, using professional photography in a professional marketing campaign for a low agents commission.
This is how we think real estate should be sold in Australia.
