Client Case Study:
Using Compass Concierge to Ready a Home for the Market
Our client Ken was seeking to sell his condo rental property. Tired of being a landlord he wanted to sell but knew the property would need some updating.
With the condo market exploding, Ken was faced with the conundrum of how to best sell this condo. This is a question many sellers face; deciding whether to sell their property “as-is” without any upgrades or updates at a lower price, or put some money into improvements and sell at a higher price. The condo had original countertops, floors, and cabinets. To appeal to today’s buyer, they needed to be updated to more a more current look.
How We Helped
This was the perfect scenario for Compass Concierge! Through the program, we as your agents have access to a suite of services designed to prepare a home for the market. With Compass Concierge, our team suggests the right improvements and aesthetic upgrades to ultimately help the home sell quicker and for more money. There are no upfront costs to the seller, with Compass not collecting payment until closing time.
For this property, a variety of changes and improvements were recommended. This included new light fixtures for the bedroom and hallway to brighten and modernize the space. There was also work performed to repair drywall affected by water damage. Wood floors were refinished throughout the house, including in the stairs and foyer. Bathroom floors were also updated with the old caulk removed and new caulk installed. The kitchen cabinets were painted. Lastly, all of the interior walls in the condo were painted as well as the ceilings, railings, and trim. Staging was installed.
Many would think this laundry list of items would take months to complete. All of these items were completed in a two week turn around after the tenant had vacated the property. We did not want our seller to have an unoccupied property and therefore additional costs.
Compass Concierge also makes life much easier for the seller.
When we were done “It was turnkey,” Ken said. ”So many buyers don’t increase the value of their property pre-sale because they do not have the funds available. Compass recognizes this and makes it a matter of just a few signatures to help fund improvements creating a win-win all around for their customers, buyers, and their own company. I had to simply (easily) trust the Goodhart Group to manage all the vendors, estimates, and to add this back into closing costs.”
Originally listed at $249,000, this property received 11 offers with the price eventually escalating to a sales price of $282,000 — 13% over asking! Ken estimates he likely would’ve had to pay out about 50% of the vendor costs to improve the property. The process could not have gone smoother from the completion of the work to ultimately selling the property.
Ken recommends Compass Concierge to anyone in a similar situation as his.
“I can’t recommend it fast enough. It’s credit-worthy, managed by the Realtor (who has my unwavering trust), and is perfectly turnkey so the customer has one huge burden off their shoulders.”