Why Brokerages Are Investing in Home Concierge

The real estate landscape across the United States has dramatically shifted over the past year. Brokerages have seen 3D home tours go from a nice-to-have feature to something buyers expect to see. This is one example of mass digitization in real estate today. Along with changes in technology, brokerages recognize another emerging trend: the expanded role of a Realtor.

Realtors in 2022 and beyond need to be problem solvers. Gone are the days of selling a house using a one-size fits all strategy. Homeowners want custom solutions that cater to their unique needs. One way that brokerages are equipping Realtors to meet this demand is offering home concierge services. Let's dig deeper into why real estate brokerages are investing heavily in home concierge partnerships.

Win more listings

Circumstances vary from homeowner to homeowner. Sometimes the best solution is to sell without making any drastic changes. Other owners might need a light cosmetic rehab. But what if that's not enough?

In the past, the lack of an alternative caused brokerages to leave money on the table.

Recognizing the untapped potential of a market once cornered by flippers has caused many to reconsider. Now, Realtors are leveraging home concierge services to win listings.

Creative options

No one wants to feel pigeonholed. Realtors can empower owners with the freedom and confidence to make the most of their situation. Owners that want to secure a new home before selling or need to sell fast can do so.

A turnkey solution

Anyone who's ever seen HGTV knows that turnkey houses sell for more. Not everyone knows that they can flip their own home. Enlightening sellers to this fact gives them an opportunity to share in the upside of selling post-renovation. The cherry on top is equipping them with a team that can make it happen.

Industry expertise

Realtors with access to additional tools position themselves as industry experts. Although not everyone will opt for home concierge, it shows owners that they have a Realtor who can do things other Realtors cannot. It also highlights that they are willing to go above and beyond, a hallmark feature of any top Realtor.

Greater convenience

Driving down any main street in America, you're likely to see McDonald's golden arches. That's because people love the convenience—and the fries. This desire for convenience extends to all areas of life, including home renovation. For this reason, brokerages are embracing the opportunity to become one-stop-shops.

Working in tandem with home concierge services helps brokerages keep business in-house. Owners don't want to find their own contractors or source materials for renovations, they want to sit back and relax. By taking the onus off of owners and putting it in the hands of experts, brokerages are attracting more potential clients.

Brokerages are able to offer an extensive variety of home concierge services including:

• Project Managers
• Contractors
• Owner Representation
• Interior designers
• Vendors
• Finance
• And much more

Brokerages are giving clients greater convenience that stretch far beyond listing a home for sale and closing the deal. Why should a homeowner have to take time and effort hiring each individual service? Not to mention, it takes additional time to do research and find trusted services. Home concierges have trusted partners that they regularly work with. Homeowners could simply call their brokerage for advice on anything related to their home for convenience.

Long term loyalty

Cultivating long term relationships is at the heart of any successful business. For brokerages, this means recognizing the lifetime value of a customer. It also means recruiting and retaining talented Realtors.

Real estate is largely a referral business. In fact, 74% of past clients are likely to refer business in the future. Brokerages who offer creative solutions recognize the lifetime value of a customer because they can help them buy, sell, renovate, and more. If they have a good experience, they will continue to use your services in the future.

Successful brokerages also instill loyalty in their Realtors. When joining a team, a key factor tends to be the quality of training and resources available to Realtors. Home concierge is a huge differentiating factor that attracts new Realtors. It also equips seasoned veterans with additional tools that help them win listings.

Shaping the future of real estate

As real estate continues to evolve, brokerages that leverage creative solutions to common problems will stand out. Innovative Realtors will be attracted to brokerages that are committed to shaping the future of real estate. Similarly, clients benefit from a variety of options and professional home services at their disposal. It's a win-win-win.

To view the original article, visit the Revive blog.