In today’s dynamic real estate landscape, the demand for move-in-ready homes has surged, reflecting a significant shift in buyer preferences. Recent studies from Bright MLS and others indicate that a vast majority of potential buyers, about 77%, are unwilling to consider properties that aren’t move-in ready. This trend underscores the importance for real estate brokerages to adopt “improve-to-sell” programs, ensuring homes meet the expectations of contemporary buyers.
Leading the charge in this arena is Compass, one of the nation’s largest real estate brokerage firms, which has effectively implemented such programs to enhance property appeal and expedite sales (Compass Concierge). Their approach aligns with the growing consumer inclination toward homes that require minimal to no post-purchase renovations. This preference is not merely about convenience; it’s deeply rooted in economic considerations.
The financial stretch associated with purchasing a home today leaves many buyers without the immediate funds necessary for subsequent improvements. By investing in pre-sale renovations, sellers can address this concern, allowing buyers to benefit from these enhancements as part of their mortgage. If the seller does not have the funding for the needed repairs, the brokerage can connect them with pay-at-close financing partners such as HouseAmp for a HomeSale Loan™. This strategy not only makes the property more attractive, but also broadens the pool of potential buyers who might otherwise be deterred by the prospect of additional renovation costs.
Moreover, the benefits to sellers are substantial. Homes that undergo strategic pre-sale improvements often command higher prices and spend less time on the market. For instance, data from Revive reveals that such properties can sell 72% faster and yield an average of $186,000 more in profit. This expedited sales process reduces holding costs and minimizes the stress associated with prolonged listings. Revive, Curbio, Renovation Sells and BOSSCAT are all examples of great companies focused on pre-sale renovation services.
Incorporating “improve-to-sell” programs is not merely a trend, but a necessary evolution in real estate practices that has proven to increase sellers recommending their friends. By proactively addressing the desires and financial limitations of today’s buyers, brokerages can facilitate smoother transactions, satisfy client expectations and ultimately drive market growth. Embracing this approach positions firms at the forefront of industry innovation, catering to a market that increasingly values readiness and economic sensibility in home purchases.
Every broker in America should be focused on building their improve-to-sell program in 2025 to remain competitive.
For more information, visit https://www.houseamp.com/.
I’m the managing broker of Coldwell Banker in Greenwich, CT. I agree fully with this. Even in an extremely strong sellers market, buyers want a “turn key” property. CB offers a program with 100% success rate called RealVitalize–unlike our competitors, Compass included, this is not a loan, but an investment by CB paid back at the closing table. It’s so successful that the company boasts 100% success rate and we have yet to have a proposal turned down. And the best part is that if you have a contractor or vendor that you want to use, RealVitalize can qualify him/her within 24 hours and they become part of the program. One of our agents took a home off the market that was not “realvitalized”; after repainting, adding central air and staging, she received multiple appointments and offers the first day it went back on. Some of the returns we’ve seen are as much as 30X ROI within just a few weeks time.