07 Mar THE METHOD BEHIND A PROPERTY MAKEOVER
As a real estate agent, you’ll know the right kind of value-add strategies undertaken to makeover a property and to create buyer appeal. These value-add strategies are accomplished through coordinated appraisal, planning, and implementation with the help of a Property Makeover Specialist. So, what’s the method behind a successful makeover? This is something you can share with your new and prospective vendors.
Every job needs to start with an initial appraisal. It allows the Home Makeover Specialist to cast an objective eye on a property and get the first impressions. This step involves a needs analysis, a comparison between vendor ideas and prospective buyer preferences and the creation of an actionable plan. It’s the stage where the hidden gems of a property are identified, and the initial methods of polishing them are suggested.
Project planning solves the challenge associated with not knowing trusted trades and service providers. That’s because a Property Makeover Specialist functions as a Project Coordinator – a liaison between the vendor and the agent and accredited tradespeople. Through consistent quality delivery, the Makeover Specialist knows just who to tap for specific work.
This stage is where the property makeover project is undertaken. With the different and specific tasks already scoped out during the Project Planning stage, everyone involved in the project will be guided by a calendar of works. The calendar of works is a tool that specifies what kind of work needs to be done, who will do them, when to do them, and how to do them.
Project planning solves the challenge associated with not knowing trusted trades and service providers.
THE OUTCOMES: THE VENDOR, THE AGENT, AND THE BUYER
More Profitable Sale
The key principle that drives a Property Makeover Specialist’s work is value. By executing value-add makeover work on a property, its physical and functional attributes are emphasised. If these aspects are emphasised, the property’s market value increases.
Increased Purchaser Competition
Because value-add transformation also includes aesthetic appeal, more prospects will be attracted to the property, and that they also know that there are others who may be keeping an eye on it. In effect, competition is created, and prospective buyers may find themselves going head to head with more interested parties than expected.
Shorter Time on Market
As increasing number of prospects become interested in a newly-renovated property, the urgency to get it sold increases. That’s because the vendor and the agent now are faced with a growing interest of potential buyers. With offers coming in, all the vendor must do is to accept an offer – whether the property goes on auction or not.
The Property Makeover Framework is the map that bridges the gap between the goals of the vendor and the results of the sale. Through it, an efficient means to complete a sale is made possible.