Today, both the seller and their real estate agent may experience stress when selling a house. When it comes time for homeowners to sell their properties, there are changes in the needs of buyers, interest rates, and available options.
The past several years have seen a rise in pre-sale renovation firms, providing ready-to-sell homeowners with an improved method of selling their properties. Sellers can renovate now to optimize the sale price later, as opposed to real estate agents hurrying a property to market in its “as is” state.
Every listing presentation is an opportunity for you as an agent to show each seller the pre-sale renovation option available today.
Pre-sale renovations almost always guarantee that homeowners will get top dollar for their property, even though they may not be appropriate for every client. Additionally, this enables agents to receive higher commissions.
Let’s explore the part agents play in pre-sale renovation and the main advantages this cutting-edge service offers to sellers and their agents.
Role of Pre-Sale Renovation Firms and Real Estate Agents and In Pre-Sale Renovations
Working with a pre-sale renovation firm like Brickfront Properties and Construction has several benefits, one of which is having a professional oversee the entire renovation process of your house. An Owner’s Representative is your go-to person for home improvement matters; they handle issue-solving and coordinating many complex issues during the renovation.
Construction Knowledge
Brickfront Properties and Construction delivers professional construction expertise to every remodeling project. Most sellers and listing agents do not possess this extensive background knowledge, which comes in very handy when an inevitable situation occurs.
They like the challenges that each unique project brings, using their knowledge and expertise to create workable solutions that fit both the project’s goals and budget.
Companies such as Brickfront Properties and Construction frequently have years of expertise in the field and are especially skilled at overseeing their contractors in carrying out property renovations. Their main process strengths are in design, scheduling, budgeting, procurement, and workflow optimization. During a large-scale remodel, there are a lot of potential headaches that could arise, and there is no one “recipe for success.” For this reason, having an experienced project lead like Sid Hameed’s Brickfront greatly adds value to the process.
Maximizing Property Value
The assurance of substantial potential financial gain in property value is among the strongest arguments for working with a pre-sale renovation firm like Brickfront Properties and Construction. Even little but strategic renovations tailored to local market trends can significantly raise the value of a home. If they don’t make any pre-sale improvements, most sellers will leave money on the table at closure.
Pre-sale renovations can yield remarkable financial gains, with an average return on investment (ROI) of 236%. According to Revive research, pre-sale renovations can fetch an extra $140,000 from a home sale. However, individual experiences may differ.
The developments also remodel properties to meet modern consumer preferences. The best return on investment is frequently found in open-concept kitchens, spa-like bathrooms, and outdoor living areas. Pre-sale firms use in-house staff or outside contractors to handle every part of these renovations. They are aware of the right improvements to make and the local market.
Catering to Millennial Buyers
Move-in ready homes are in high demand, with Millennials accounting for the majority of today’s house buyers. They don’t want as-is houses.
According to industry research, a majority of Millennials would choose a smaller, move-in-ready home than one that requires renovations.
Pre-sale renovations give this group the contemporary, Instagram-worthy interiors they desire. Because they satisfy more requirements for a wider range of buyers, homes upgraded in this way frequently sell faster. Agents can reach more potential buyers with this strategy.
No Upfront Cash is Needed for Sellers
The upfront costs required to finance the remodeling are a major deterrent that frequently exists. This issue has also been resolved by pre-sale firms like Brickfront Properties and Construction. Brickfront finances all upgrades, so homeowners no longer need to have extra cash on hand to make repairs, updates, or revive their houses.
Even for significant renovations, the seller doesn’t need any cash upfront because the pre-sale remodeling company covers all of the expenditures and collects its cash at closing.
The best aspect is that upon closing, any earnings left over after renovation costs and fees are given to the seller.
Do’s and Don’ts of Presale Home Repairs
It’s crucial to compare the anticipated market worth of your house following updates to the costs of the suggested upgrades.
Comparing your home’s amenities and state to those of other homes in the neighborhood is also a good idea, particularly if you’re thinking about investing in a costly renovation like an updated kitchen. For most sellers, here are a few dos and don’ts regardless of your neighborhood:
Do’s
- Rooms that require painting, particularly those with pet damage or water stains, should be painted. To create the illusion of space and allow room for the buyer’s imagination, choose neutral colors.
- Think about including a bedroom. Your home’s appeal to purchasers with larger families and those who desire room for guests will enhance if you can afford to redesign the space in your attic or another area.
Don’ts
- Invest in significant remodeling projects before conducting due diligence. Prospective buyers will examine similar homes in your community.
- Include luxury items that might not be very popular. Although a new deck, home gym, or master suite may sound like fantastic ideas to you, a buyer may not find them very valuable.
Why We Should Be Your Pre-Sale Renovation Firm
Pre-sale home improvements are a lot of times necessary.
Brickfront Properties and Construction is offering support to homeowners who want to repair their homes to increase value in the real estate market. We offer this great opportunity for repairs before you list, and then you pay back at closing!
Working with forward-thinking leaders in the real estate space like Brickfront leads to your property’s market value going up.
Consulting us at Brickfront can give you a better understanding of how home improvements speak volumes in the real estate market. We know the current market and are willing to advise you before making any repairs. Still confused?
Reach out now!