Compass Launches Program To Help Home Sellers Finance Repairs and Improvements
Compass, the future-forward brokerage that I work for, has been rapidly launching innovations in an effort to update the old school nature of the real estate industry.
From creative consumer tools like Collections that allow me and buyers to share notes on custom collections on for sale properties, to the industry first healthcare for Real Estate agents, Compass is always innovating.
The latest innovation focuses on benefitting homeowners that are looking to sell their property but need assistance making the most of it.
Preparing a home for sale isn’t as simple as slapping a sign on it and listing it on the MLS cleaning, staging and needed repairs are a must LA County. Cleaning and decluttering is a no-brainer but still some think it isn’t important (they are wrong). There are endless studies about the benefits of staging a home and how it can increase your profits. Repairs and safety items will always have to be handled when a property changes hands, so you will eventually have to tackle these and tackling them at the end of the transaction can cost you more.
The challenge is, often times homeowners do not have the on-hand funds or support to paint interiors, declutter, replace flooring, or do the landscaping that one really should do as they prep for the market. For this, Compass has created the new Compass Concierge Program.
This program offers home-selling services that enable sellers the option to let Compass cover the costs of staging, painting, deep cleaning, landscaping and decluttering prior to sale, and have that cost paid back when the house sells.
This is an industry first for a full service brokerage.
About Compass Concierge:
The Compass Concierge program is the latest in a suite of services designed to prepare your home for the market. From deep-cleaning to cosmetic improvements, we will work together to assess opportunities to elevate your home's value.
Compass Concierge will assist you with the execution of a tailored plan for updating and staging your home for prospective buyers. We will cover the upfront costs associated with home-selling improvements and collect a fee for the services rendered at the time of the property’s closing. House preparation services include staging, painting, deep cleaning, landscaping, and decluttering.
How It Works:
Our team will develop a tailored project plan with suggested home improvements and updates to prepare your home for the market.
You will contract directly with home improvement service providers.
Compass Concierge will pay the associated cost for home improvement work performed subject to your agreements with home service providers.
At the closing of the property, Compass Concierge will collect a fee that covers the cost of the work performed.
Key Eligibility Criteria & Restrictions:
The program is available to all sellers with an exclusive Listing Agreement with Compass.
Properties that are short-sales or foreclosures are not eligible for the program. Structural or construction services will not be covered.
Prospective sellers interested in participating in the Compass Concierge program must review and execute the Compass Concierge Service Agreement outlining the program services.
Payment for Services:
Invoices should be sent to your Compass Agent for payment by Compass.
When your property closes during the term of the Listing Agreement, Compass Concierge will issue an invoice reflecting the total cost of services rendered.
Payment for the program services will be collected using your preferred payment method at the earlier of (a) the actual closing of the property or (b) the one-year anniversary of your participation in the program.
In the event that your property does not sell or the Listing Agreement is terminated for any or no reason (including the property going off market), Compass Concierge will collect any actual costs incurred by the home improvement work performed (within 15 days).
REALTOR®-Compass Real Estate
Michael Robleto is a Pasadena based REALTOR®. His analytical and open approach to sales and representation have served his clients well in his twenty years of sales experience. Michael is a staunch homeowner advocate that blends compassion with a highly advanced technology-driven approach to the buying and selling of real estate in and around Los Angeles. His client accolades of insight, integrity and hard work support the fact that he is not your average agent.