No one can argue that the market is booming, but in actuality are houses really flying off the market as quickly as they say? The answer is yes, and no.
While demand is still outweighing the supply, fairly priced homes that are move-in ready are getting bidding wars, while homes that are not in the best shape can tend to sit, waiting for the right buyer, a buyer with a “vision,” that not only has the capital to fix it up, but also the time to oversee the project.
There are two reasons to spend money on home improvements before selling: (a) to get your house “move-in-ready” so it doesn’t sit on the market, and (b) besides for your house selling faster with fewer days on the market, investing in certain upgrades before selling can net you more money at closing. After all, who wouldn’t spend $10,000 to make $20,000?!
Time is money. Some buyers have the time and the vision for a project and are looking for a deal or a fixer-upper to save money. However, many buyers may have the vision but don’t have the time for a project and want a move-in-ready home.
The million-dollar question is, what if you don’t have the extra money sitting around to get your house freshly painted, or to fix the leak, or put in new quartz countertops or backsplash, or freshen up the landscaping to spruce up the curb appeal. There are so many things you can improve that will help your house spend fewer days on the market and net you a higher sales price.
Our team at Compass has developed a Concierge program with a straightforward solution—when you list your house with us, you can get fronted the costs for home improvements with zero fees, and zero interest, up to $80,000. You simply pay it back at closing.
How Compass Concierge Works
Value is subjective. At Compass Concierge we’ve analyzed the primary features that buyers perceive to provide the most value. With this data, Compass Concierge’s sole purpose is to elevate your home’s value by focusing on improvements that make your home more appealing to buyers.
Our process begins by discussing your home needs, deciding what upgrades are necessary, getting vendors to complete those upgrades, then listing your home! I oversee the entire process making it simpler to navigate.
The Benefits of Using Compass Concierge
1. Get expert advice on what upgrades your home needs.
Selling a home begins with the buyer and not the seller. What are buyers looking for and what features do they want in a home?
Answering these simple questions is the foundation to making sensible yet impactful choices that increase your home’s value. However, unless you have years of relevant real estate experience, knowing the answers to these questions is challenging.
Using Compass Concierge, you rely on brokers that understand the market from the buyer’s perspective. Brokers with the expertise allowing them to walk into your home and point out the faults and flaws buyers will notice. Having access to this insight means you can position your home to become the only reasonable choice for buyers.
2. Maximize the value and competitiveness of your home.
The market is constantly fluctuating. Today it may be a seller’s market; tomorrow, things change. Regardless of the market’s conditions, a buyer’s motivation remains the same—pay as little as possible for the ideal home. As a seller, it’s your responsibility to navigate the fine line between getting the most desirable price without spending a fortune to do that. The best way to do this is to highlight your home’s best features, targeting your improvements so that buyers see the value in your home. With targeted home improvements and market-ready staging, you can give buyers the perfect experience of your home, making it more captivating. If your home is memorable—for all the right reasons—buyers are inclined to make higher offers more frequently.
3. Reduce your exposure to risk.
As a seller, the benefits of home improvement are undeniable. But the minute a real estate broker mentions what changes you need to make to your property, the first thing you’ll think is, “What is all of this going to cost me?” With Compass Concierge, you don’t need to put down a cent. Compass Concierge recoups the cost of the upgrades either when the property sells through a broker or if you decide to terminate the listing agreement.
However, you still have complete control over what improvements are done to the property and the cost thereof. Essentially, you get all the rewards with none of the risk, and we get to sell a home at above asking price.
4. Navigate hiring vendors alongside an agent.
If anything, your home is your pride and joy. Selling it can be an emotionally taxing endeavor. Home improvements, while necessary, are just an additional burden. You don’t want—or need—to spend every available minute dealing with contractors to upgrade a home you no longer intend on residing in. We know this and work alongside you every step of the way. Helping you find, vet and select the best vendors.
5. Sell above asking.
All these benefits lead to one thing: a higher selling price. Yes, it may take a little longer to list, but the end justifies the means. Because what I’ve learned is that when you focus on making your house buyer-friendly, buyers respond in kind and start pulling out their checkbooks and making serious offers.
As a Compass Concierge broker, I ensure that you experience the Compass difference: selling your house faster and for more. Something other brokers can’t promise or do. We invest in the initial changes because we know the payoff will be significant for both of us.
As a seller, by choosing the Tewel Team, you don’t have to wonder what more you could do to sell your property or stress about the selling process. We share the responsibility with you, and the results have been nothing short of amazing.
To learn more visit www.compass.com/concierge/levy-tewel or call me at
Levy Tewel is an associate real estate broker and team leader of the Tewel Team at Compass, helping sellers and buyers in Bergen County and New York City, with over a decade in the business, and over 1,000 closed transactions. Levy can be reached at 201-477-0117, [email protected] or TewelTeam.com.