Getting a reasonable offer for your listing is one thing. But do you wonder sometimes if you’re missing out on bigger and better offers, especially because of needed home improvements or renovations? It’s a tough conversation to have with your sellers, too. Not everyone will have the budget or the time to even think about making significant upgrades to their homes before selling. So, how can you, as a real estate agent, help bridge the gap? What can you suggest to your sellers to help improve the offers?
Common Reasons Why Sellers Don’t or Can’t Renovate Before Listing
Who really wants to remodel before moving out, if we’re being honest? Renovations take time, require contractor coordination, and can be expensive. And how can sellers be sure the remodels are going to make a significant difference? As a realtor, you’ll need to overcome these objections if the goal is to get better offers and sell quickly. But other concerns come up, too, like poor credit history, sellers behind on their mortgage payments, or demanding timelines to move. And these can all be challenging to overcome, especially if you’re suggesting they replace a leaky roof or update a 30-year-old refrigerator. But there are innovative ways to address these challenges. And there are ideas you can tap into to help convince your sellers to make some improvements before officially listing their house.
Little Upgrades That Make a Big Difference
Sometimes, even convincing sellers to make small changes can make a big difference. You know, as a real estate professional, how important first impressions are during walk-throughs. So, consider creating lists of affordable, DIY-level upgrades your sellers might be more willing to tackle. For example, if you can’t convince them to explore a kitchen remodel, swapping out the drawer and cabinet hardware can be a helpful upgrade. Outdated light fixtures could be swapped out for more modern designs quickly, too. And spending some quality time with the landscaping, even if it’s just thorough maintenance, can help with curb appeal.
Discussing the Increased Need for Listings to Be Move-In-Ready
Another critical conversation that needs to take place with your sellers is the growing need for properties to be as move-in-ready as possible. Today’s buyers aren’t looking to take on new projects, nor do they want to overhaul a new-to-them-home if they don’t have to do so. Sometimes, just walking your sellers through the expectations can inspire them to consider making improvements. And at the very least, thorough cleaning and tidying up can go a long way with potential buyers.
Influence Sellers to Consider a Pre-Listing Inspection
If your sellers aren’t ready to take your word for it, suggest they consider having a pre-listing home inspection. An objective inspecting professional can come in and point out any safety, foundational, or operational improvements that need to be made. And the report serves as a to-do list for your sellers, independent of your opinion. You can remind them that buyers will likely get a home inspection before they purchase, which will likely outline the same issues. Addressing those necessary repairs now could eliminate any offer negotiations later.
Suggest the Equity Rescue Program
Probably the best solution you can bring to your sellers is the Equity Rescue Program. If your sellers are concerned about affording renovations, the Listing Profit Remodeling Equity Rescue Program will allow them to use the equity they already have. The LPR team will work with them directly, without credit checks, financing, or any money upfront, to explore the best remodel options. Sellers can reap the benefits of kitchen remodels, bathroom remodels, roofing, new appliances, and more without spending a dime until closing.
If you’re concerned that you could be missing out on better offers for your listings and you need ideas to help make renovations and remodels possible for your sellers, let Listing Profit Remodeling help!