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Investing in a Successful Home Sale

Savvy Buyers and sellers see the value in the Compass Concierge program

Article by Smyrna Vinings Lifestyle staff

Photography by Courtesy of Luxe Living Properties

Originally published in Alpharetta City Lifestyle

There's something new in real estate and this time, the seller benefits. The Compass Concierge program was inspired by agents who had been fronting the cost of staging and other home-improvement services for their clients, in order to get the home ready for the market.  Compass Concierge is an exclusive program for Compass agents, to help their sellers cover the costs of preparing their home for the market, either offering Concierge funds directly to sellers to pay vendors, without having to go through Compass. Or, with Concierge Classic, agents work with the Compass Concierge team to submit vendor or contractor invoices for Compass to pay on behalf of their seller.

Home remodeling projects with the highest ROI include garage door replacements, manufactured stone veneer and siding replacement, deck replacement and front door and window updates. A homeowner might think this is money and time that a buyer should take on. We asked  Helen Hernandez Archer, Team Leader | Associate Broker with Luxe Living Properties about this opportunity. 

“Since interest rates are so low, potential buyers in the current market rather pay top dollar, since it is costing them less a month on a move-in-ready home,” she says. “We have seen a more aggressive buyer when making offers and paying over asking price, due to the amazingly low rates. However, that same buyer tends to have higher expectations on the condition of the property.”

During the recession between 2008-2013, buyers (not investors) were more willing to buy low and spend cash to renovate, she notes. Due to low inventory and low-interest rates if the home doesn't need any cosmetic renovations buyers will go beyond the asking price and even waive appraisal or inspections to win the bid. “This is why now, more than ever we advise clients to prepare the home as best as they can to bring it up to the market's needs and wants. We have seen longer days on the market, specifically in homes that are not renovated. Even with a low inventory market, these homes remain in the market, which in turn will give them a lower sales price.”

With current access to so much data online,  buyers are very savvy in 2021. “The buyers are more informed, educated on pricing, updates, and recent sales in the area. If the home does not have the WOW effect, or the right price from the beginning it will a frustrating sale for the seller,” says Helen.

“We have seen that buyers will wait for the price to be reduced before even requesting an appointment to see the home, and if they do come to see the home, they will not pay full price. This is why our Concierge program is an amazingly valuable tool to sellers.”

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