Working in real estate, you understand the importance of pre-sale updates, but your clients may not. Also, when you first bring up home improvement projects, your clients’ minds will likely jump to large-scale renovations that can only add to their hesitation. These intensive projects may not be the answer. Instead, a refresh may be the better choice for several reasons.
Small updates make for a bigger return
It’s a common misconception among homeowners that home improvement projects must involve full-scale renovations to boost home value. In actuality, small updates can go a long way and get homeowners even more money back.
Based on past Curbio projects from various markets, the average ROI for a kitchen refresh is 377% versus 220% for a remodel. Similarly, bathrooms have an average ROI of 256% for refreshes and only 120% for remodels. In both instances, less work yields a higher return. Refreshes have significantly lower project costs than remodels, but they often have similar end results. Leading with this ROI can help you catch your clients’ interest.
The economy is tough right now
With the economy teetering, many people are trying to cut back on costs, including your clients. Moving is already expensive, so many sellers also do not have extra cash to pump into their current home before they sell.
By design, full-scale renovations and remodels can come with a hefty price tag from steep material costs and labor hours. For homeowners on a tight budget, this cost may have them shutting you down before you even begin. A refresh, on the other hand, comes with a bill that is easier to swallow, and when you couple it with the return, you can reel sellers in.
Home improvements are stressful
For most homeowners, home improvement projects are a significant source of stress. Big-scale projects can seem like an inevitable nightmare fraught with delays and setbacks. Instead, a refresh makes updates more manageable. Especially if your client is hesitant to make any updates in the first place, a refresh can be a much easier sell.
Time is valuable
Naturally, bigger projects tend to take more time. If your client has a tighter deadline or is concerned about delays, a refresh can be a good alternative. Instead of a large-scale project with multiple steps, this process can be simplified down to one or two steps for a faster turnaround. Not to mention the fact that Curbio projects are completed 50% faster than traditional general contractor work.
Offer more solutions
In our recent survey, 90% of home sellers said they didn’t want to deal with the time, money and stress of home improvement projects. While a refresh may make them more likely to get on board with these updates, it is only part of the solution. There are still other hurdles your clients may need to get over, so you need to sell them by offering more solutions.
Curbio makes refreshes more accessible by offering a pay-at-closing price model with a focus on high-impact updates for the highest ROI. In contrast, a traditional general contractor doesn’t focus on fixing up to sell and may try to persuade your clients to do more than they need to. The proof is in the pudding too – Curbio homeowners see an average ROI of 269%. That can mean a lot of happy clients and many referrals coming down the pipeline in the future. Learn more about how we can help.