As technology and data continue to transform the real estate industry and spur competition, some brokerage concierge programs have been developed to provide their agents a leg up. Concierge programs help agents compete by providing a better seller experience. They also make more money for clients, their agents and, of course, brokerages. Updated homes do cost more, but buyers are happy with the results because the overwhelming majority want move-in ready homes.
The win-win scenario gets people asking, “What’s the catch?”
Limitations
Most concierge programs are intended for specific projects—mainly minor repairs, painting, flooring and staging. These projects have large impacts, and they’ve been suggested by agents for decades, but some homes need more.
Almost 80% of homes in the U.S. are at least 20 years old, while 40% are at least 50. Very few buyers want to purchase fixer-uppers, which means that a lot of homes need extensive updates to meet the demand of today’s buyers. Because most concierge programs have maximum project costs associated with their deferred payment plans, the programs address only a portion of the market.
Agent Stress
Most concierge programs lean on existing home improvement systems, leaving it up to agents and their clients to source contractors. The same old systems come with the same old problems: lack of transparency, uncertainty around quality, frequent delays, poor communication and added costs.
All of these factors pose risks to transactions. To avoid these risks, many agents don’t recommend updates that aren’t 100% necessary to get homes sold.
Not All-Inclusive
On top of not addressing the stress that brokerage concierge programs cause, these programs only solve for one side of the transaction. Pre-listing home improvements are crucial, but so are timely home inspection repairs, as is a reliable contractor recommendation for updates prior to buyers officially moving in.
Agents Need a Concierge Program That Was Custom Built for Them
Imagine a world in which you feel comfortable suggesting repairs or renovations necessary to get a home sold quickly and at your clients’ target list price, address home inspection repairs without delaying time to closing and help your buyers tackle pre-move-in updates—all without sacrificing more of your time, chasing down contractors and worrying about quality (or whether or not your contractors are licensed and insured).
That’s the world Curbio is creating. Through the use of technology, we’ve built a streamlined home improvement process for REALTORS®. We take on projects of any size, and our full-time project managers handle every aspect of the job. Your project manager will keep you and your clients in the loop via the Curbio app, giving you the peace of mind you need. Finally, like concierge programs, we defer payment for all projects and don’t charge any fees or interest.
Olivia Mariani is the director of Marketing at Curbio. To learn more about Curbio’s pre-listing home improvement solution and how it can help you grow your business, visit curbio.com.
I am a member Leading RE how much is your app? Who selects the contractors?