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Revive Is Changing the Way Homes Are Sold. Realtors, Be Ready for Incredible Opportunities!

September 21 2022

Unlike a finely aged wine, homes that show signs of aging are not going to pique the interest of potential buyers, let alone capture the attention of image-driven millennial home buyers (the highest market share at 43%) when they are online shopping.

In the U.S., the median age of a home currently stands at 39 years old. In California, the state with the most housing stock, that number increases to 43 years old. And while some could argue that being in your 40s is simply the new 30s, think about how much style has changed since the 70s – even the 80s! (Do any of you remember the glass brick phase? Yikes...)

The fact of the matter is, while some design styles return hotter than ever, most do not, at least not all at once. And so, the need for renovations and improvements grows. But hey, maybe your client is a homeowner who's on the fence about whether or not it makes much of a difference to renovate their home before you, their Realtor, puts it on the market – it makes a huge difference!

Here's why.

Again, it's all about what the buyers want. Millennials prefer move-in-ready homes. Research shows that 70% of Millennial home buyers would choose a smaller home, giving up the need for more space, to secure a move-in-ready home. That's huge.

One of the biggest annual home buyer studies also found most recent buyers who purchased new homes were looking to avoid renovations. While most homeowners getting ready to sell their homes would benefit largely from pre-sale renovations, most lack the funds, time, or industry insight needed to make them happen.

And, so, a change began.

The move-in ready movement

An innovative new solution for homeowners emerged, becoming one of the hottest real estate movements today. It's known as the concierge category, which includes companies like Revive Real Estate—a presale renovation firm that specializes in $0 down, pay-when-you-sell, major and minor remodeling. It gives homeowners the option to turn their as-is property into the move-in-ready home today's buyers want.

Still, sellers have two options. First, there's the DIY (do it yourself) approach. But for most home sellers, undertaking even minor improvements is too daunting.

Why? Well, there's the hunt for reliable, available, and proven contractors – which is especially tough in today's market, not to mention having the available cash to front the cost of needed repairs and renovations. Add in the time to meet with the designers, contractors, and hunting down the right materials to get the job done, it's a nightmare. A DIY project quickly becomes a hurry-up-and-sell project which causes homeowners to lose out on thousands of dollars!

When sellers go at it alone, they also assume all risks and liabilities, and that's often something most homeowners would rather avoid.

Despite the best-laid plans, ask anyone who has undertaken a kitchen or bathroom remodel, and they are likely to tell you that when you involve multiple contractors, you are at the mercy of their schedules.

But this is nothing new! Many people already understand these are common concerns. Thankfully, there's another option.

You bring in the experts.

The BIG $$$$ benefit

Working with an experienced and proven firm like Revive gives homeowners more than just a move-in-ready home to put on the market. It gives them, as home sellers, the opportunity to maximize the sales price of their home.

What does that mean in actual dollars? Most sellers who sell their homes as-is leave 15-20% in potential profits on the table. Imagine leaving hundreds of thousands of dollars in built-up equity behind. That is life-changing money!

Revive homes sell for more – a lot more. In fact, the average Revive home seller nets over $186,000 more by undergoing pre-sale renovations. The return on their investment – using Revive's funds, not their own ­­– is a stunning 257%. The average net return to Revive home sellers is even higher in higher-priced markets where homes are often worth more than $1 million.

The smart way to renovate

When Revive works with a homeowner and agent to get a home ready to sell, they are partnering with a team that includes a property advisor (the point person for improvements), in-house designers, and other real estate specialists. Because knowing what to improve is the secret to unlocking the greatest value the home has to offer. Revive's design team has that knowledge.

The biggest mistake in home improvement is fixing and replacing the wrong things. Every home is different, and having current market knowledge of what homes are selling and why is vital to the renovation's success.

Smarter renovation means more than just knowing the trends – it also is knowing what materials are available and properly priced. Home sellers want to stay on time and budget and still maximize the value of their improvements. That's where Revive's expertise excels.

Quality is also paramount – you can't settle on a contractor simply because they are the only ones available. Revive maintains a network of fully vetted, experienced contractors who are loyal to Revive because of the unmatched support they get and the steady stream of work they get from Revive. Revive keeps its contractors busy and focused on what they do best, the work, with Revive handling their back office support, material sourcing, ordering, scheduling, and more.

Curb appeal attracts more prospects.

Pre-sale renovations make homes market-ready, and that also means improving the curb appeal. After all, you don't get a second chance at making a first impression, and that's why homes with excellent curb appeal sell faster – and for more.

Curb appeal sets the tone of what home buyers can expect to see when they step inside. Securing a positive first impression through exceptional curb appeal sets the stage for a sale. And the nicer your curb appeal, the larger number of prospects you will attract.

In fact, homes featuring well-kept lawns and professional landscaping sell for 7% more than similar homes without!

The Washington Post reported that 87% of home buyers rely on photos when house hunting. Those professionally photographed homes showcasing their features, including their curb appeal, sell 32% faster than other listings and net a 47% higher asking price per square foot.

Different types of renovations – what makes sense?

Getting a home in move-in-ready condition is a huge undertaking and varies from property to property. Real estate professionals and home sellers can benefit by having a team of Revive experts who do this daily.

Revive takes on projects from big to small. There are no project minimums or maximums, and every project is designed uniquely to that home's unique design and neighborhood style.

Minor fixes with Revive

  • Interior painting
  • Exterior painting
  • Appliance replacement
  • Roof repairs
  • Carpet and flooring
  • Window repair
  • Door replacements
  • Deep cleaning and professional staging
  • and more

Major improvements with Revive

  • Kitchen remodels
  • Bathroom replacement and additions
  • Roof replacements
  • HVAC replacement
  • Window new installations
  • Mold removal and prevention
  • Basement finishing
  • Deck and patio installations
  • Outdoor living spaces
  • and more

Many markets also have unique locally related improvements that can maximize the property's value. Revive can help uncover those as well. From repairing a dock for a waterfront home to building a complete entertainer's space in the backyard, Revive's goal is to maximize the return on the sale of the home.

Bottom line: Revive homes sell for more and sell faster.

When completed – often within 90 days or less – Revive homes are move-in ready.

Homes renovated with Revive often massively increase a seller's asking price, creating significantly more wealth for the seller. Just look at all of the case studies that provide the before and after photos of dozens of Revive renovation projects here to see how much more sellers made using Revive.

And the best part? In addition to Revive fronting the money for the cost of renovations, there is no interest, fees, or financing charges due from the seller or agent.

Revive is a win-win-win-win for homeowners, contractors, agents, and brokers too, because everyone benefits when a home is renovated to sell for its highest price.

Jessica Morrow, a seasoned real estate veteran, is Revive Real Estate Head of Operations. Revive's mission is to guide home sellers through presale renovations without upfront costs. Working with Revive, home sellers gain an average of $186,000 in additional profit when selling their homes.