During the HyperFast “Hangover” Event, host Keri Shull speaks with Tom Parmentier of Max House Price about an innovative way to add more value to sellers. The strategies shared in this episode will allow you to set yourself apart from the competition by giving your sellers more options and helping them make more money.
Episode Highlights:
- Tom Parmentier began his real estate career working in investments. He has analyzed over 50,000 properties for comps.
- His business, Max House Price, helps sellers who are in a position where they don't want to sell to an investor and they also don't want to sell their property as/is.
- They partner with agents on renovations.
- Sellers often chose Keri because she gave them options.
- Think about what you're typically recommending as an agent when you have a property that has obvious problems like stained carpet or a very outdated bathroom.
- Listing as/is is low risk, but are you wasting your time?
- You could sell to a cash buyer and that works well for many people if they want to sell quickly.
- Remodeling for yourself vs. resale are completely different.
- Two homes on the same street are not going to have the same scope.
- When you look at a home, identify the big issues.
- Know the neighborhood.
- Be careful of trends.
- It's about what's going to get the house sold for your client for the most amount of money.
- If you are going to do a renovation, use that as an opportunity to market yourself and your business.
- Take before and after pictures to show how you've helped your client.
- There's no out-of-pocket expense for the sellers or for the agent when you use Max Price House.
- Staging is a good way to bring in a little bit of color.
- Establish a relationship with a granite supplier.
- Put yourself in the frame of mind of the buyer walking in. Think about what they're expecting.
- Changing hardware and paint are very easy things to do.
- Renovating will speed up time on the market.
- Bringing options to your clients will bring you more credibility as an agent.
- This is a great opportunity to think differently about listings.
- This strategy will open up your buyer pool tremendously.
- Buyers always over-inflate what it would cost to complete renovations, especially first-time buyers.
- If you get estimates, let the numbers tell the story.
- There's not a set time period that the home has to sell by when using this service.
- Max House Price has a buyout clause if people decide to stay.
- You can get more listings by presenting more options to your clients.
3 Key Points:
1. Renovation is one way to partner with sellers to add value.
2. When renovating, remember what will appeal to most buyers.
3. Use renovation as a way to differentiate yourself and market your unique services.
Tweetable Quotes:
- “There's times that you can net somebody $50k, $100k, just by changing a couple elements.” – Keri Shull
- “Remodeling for yourself vs. resale are totally different. It is not the same thing at all.” – Tom Parmentier
- “We pay for renovations with our own money and we manage it, we complete it, and we don't get paid until the house sells.” – Tom Parmentier
- “It's going to sell fast and you're going to get more money.” – Tom Parmentier
- “Let the math show them.” – Tom Parmentier
Resources Mentioned:
