17 Sep RELATIONSHIP DYNAMICS: REAL ESTATE AGENTS AND PROPERTY MAKEOVER SPECIALISTS
In a busy market, taking advantage of favourable trends is key to staying competitive. Today, we look at the relationship dynamics between Real Estate Agents and Property Makeover Specialists.
In the real estate market, this means selling a property while the market is active and doing so as soon as possible. It looks simple but there’s a functional relationship – between Real Estate Agents and Property Makeover Specialists – at work which is integral to the competition-time-value component.
Real Estate Agents and Property Makeover Specialists share a common goal: working for the vendor to achieve the maximum competition to bid for the property, with the most effective marketing plan, and with the very best sales outcome. With the dawn of in-depth sales disciplines, it’s become apparent that value-add transformation is key when marketing and selling a property.
Since Real Estate Agents cannot implement value-add changes on their own, they turn to Property Makeover Specialists to do the job. Hence the birth of what we call ‘property makeover to sell.’ But how exactly is this relationship mutually beneficial?
The Property Makeover Specialist is guided by one principle: that every element in the renovation process ought to add value to the property.
You don’t get a second chance to make a first impression:
The goal of a property makeover to sell is simple: transform a property, create additional value, create competition, and sell the property in the shortest possible time. This cannot be fulfilled if buyers are not impressed the moment they set eyes on the property for the first time.
For both Real Estate Agent and vendor, a property may be sold as is, but the price is going to be limited by its current condition. This defeats the probability of making additional profit. Bringing in a Property Makeover Specialist casts a fresh eye on the property such that potential selling points are identified and polished.
Value-add Transformation is a Non-negotiable Element:
The Property Makeover Specialist is guided by one principle: that every element in the renovation process ought to add value to the property. Adding space for the sake of it, for example, defeats the purpose of value-add transformation. So the Property Makeover Specialist should ideally work closely with the Real Estate Agent and the vendor in a systematic manner, taking into consideration the following steps:
- Conducting an initial appraisal on the property to identify and maximise potential selling points.
- Creating a recommendation summary report listing the areas of the property that need the most attention and the specific renovation work involved.
- Consulting with both Real Estate Agent and vendor for both to arrive at an informed and tailored plan.
- Creating a calendar of works that details what needs to be done, who will do it, how it should be done, and when it will be done.
- Coordinating with trusted tradespersons to implement the makeover work.
- Communicating with the Real Estate Agent and the vendor about the progress of the project, ensuring marketing plans are achieved.
- Completing the makeover with timeliness and know-how.
By being systematic, the Property Makeover Specialist will help the vendor save on unnecessary costs, time, and effort while helping to pump the property’s market value.
The Buyer Perspective is a Makeover Driver:
Of course a makeover project work is not carried out without considering the buyer’s perspective. After all, an interested buyer could be the property’s next owner. In this case, the buyer perspective becomes the framework of the makeover project. At the culmination of the project, it is expected that when prospective buyers come around, they’ll be able to visualise themselves living in every part of the property.
The Real Estate Agent and Property Styling:
After the makeover project, the Real Estate Agent steps in to bring potential buyers in and close a sale, by sprucing up the home prior, the Real Estate Agent can then add the final element to foster a sense of need amongst potential buyers.
A professional property makeover gives a Real Estate Agent the opportunity to market a property that’s not only appealing in form but also in function. The supportive relationship shared by a Property Makeover Specialist and a Real Estate Agent is a vital part of the process of maximising the potential of a property listing.
Papillon Styling & Renovations.
Transforming Property. Changing Lives.