Whether your clients are buying or selling, a home that needs repairs can become a point of contention and require extra finesse during negotiation. As a real estate agent, knowing how to assess and weigh repairs and costs can give you an advantage in serving the best interests of your clients.
Estimation of repairs
As a real estate agent, conduct a thorough inspection of your seller’s home. Take note of both obvious and hidden issues, and categorize the repairs based on their scope and urgency. Common categories include structural repairs, electrical, plumbing, HVAC, cosmetic improvements and landscaping.
Use online resources and calculators to give your seller an idea of how costly the needed repairs will be. There are several repair-cost calculators and resources specific to your region (https://homeguide.com/costs), and some local companies may have an app that can provide average costs for various repairs and serve as a helpful reference point.
Once you have an idea of what repairs need to be done—and how much they would cost—help sellers understand the market expectations in their area. Depending on local market conditions, it may be necessary to prioritize specific repairs or upgrades to make the property competitive. Stay up to date with local trends and preferences to guide sellers effectively.
Building your network
Assess the level of expertise required. Have a handyman or two in your trusted vendor list that can help with some of the lighter repairs, though some may require specialized skills or licenses, such as electrical or plumbing work. For complex repairs or renovations, it’s crucial to consult with professionals such as contractors, architects or engineers to obtain accurate estimates. Don’t have any in your network yet? Get referrals from other agents and see who they recommend. It takes time to build up a network, but it’s worthwhile.
Calling Curbio
Another company you want to consider having in your network is Curbio. They will take care of any and all home repairs. And the best part is that the homeowner doesn’t pay until the sale of their home closes. Unfortunately, Curbio does not yet operate in all areas, so find out if they’re available in your city before suggesting them to your seller.
For more information, visit http://www.DarrylSpeaks.com/Online-Training.
Darryl Davis has trained and coached more than 100,000 agents globally. He is a best-selling author of “How to Become a Power Agent® in Real Estate,” which tops Amazon’s charts for most-sold book to real estate agents. Davis hosts a weekly webinar to help agents succeed in changing times.
