As the housing market shifts to one that is balanced between buyers and sellers, home sellers are more likely to want to take the extra step of renovating their home for maximum profits. Several companies including Revive now offer concierge services that provide design guidance, project management, contractors and financing to renovate a home to appeal to today’s buyers.
How concierge services work
At Revive and other concierge services, an experienced team prepares an analysis of a home with recommendations for updates, the cost and the estimated return on investment. Once an agreement is signed, Revive provides funding for the project and expert contractors begin the work. Project managers provide oversight to ensure the renovations are done properly, on budget and as quickly as possible.
Once the home sells, Revive is reimbursed for the project and the sellers walk away with a higher profit.
Seller benefits from concierge programs
Many sellers dread preparing their home for sale and would prefer to list it “as-is.” As an agent, you already know how dangerous that can be. A home that is not in move-in ready condition is likely to take longer to sell and will sell for less money. Taking on a larger project such as renovating the kitchen and bathrooms may seem like a waste of time and money to sellers, but if they have someone who can provide end-to-end concierge services – and, most importantly, upfront funding – they may feel differently.
Revive’s analysis of their clients shows that on average, sellers receive an extra $186,000 in profit above what was anticipated without a renovation. In addition, the return on investment averages more than 200%.
The renovate now, pay later approach also relieves stress for sellers when they want to keep their cash for their next move. Homes that are renovated typically sell 72% faster, too, which every seller appreciates.
Agent benefits from concierge programs
As a listing agent, you can also benefit from working with a concierge program. Instead of spending your time evaluating the house, consulting with the sellers, coordinating contractors and following up on the progress of preparing a house for sale, you can focus on marketing.
When the property sells more quickly, that benefits you, too. You can move on to your next transaction faster. A higher sales price also generates a higher commission for you.
Whether you’re making a listing presentation or already have a signed agreement with your sellers, one way to be the trusted advisor they need is to discuss the possibility of working with Revive to position their home for maximum profit. Take a look at the before-and-after case studies on our site, each of which includes the profit from the sale and the ROI on the projects, then share them with your sellers to start a conversation about the benefits of concierge services.