Instant cash offers, AKA iBuyer programs, are just one way brokerages are catering to clients. Newly implemented and expanding “concierge programs” are other ways brokerages hope to attract consumers to their respective brands with their specific “carrots.” And, just as carrots come in different shapes and sizes, each brokerage firm is defining their specific “carrot” or concierge program differently.
Here are just some of the already announced “concierge programs” by various brokerage firms. Most all of these programs are looking to put a dent in the average $10,200 costs spent on home improvement and/or move-related goods/services for their clients.
Keller Williams recently announced its Keller Offers Concierge Program. KW’s idea is to capitalize on the home’s inherent value by “enabling KW agents and sellers to decide ”which of the home’s attributes to improve.” Keller Offers, KW’s iBuyer’s program, is financing this concierge program “at very little or no cost to the seller.”
Currently a pilot program in some areas of Georgia, Texas and California, the Keller Offers Concierge Program “will become accessible to all KW agents” in the future. No specific timeline for that availability has been announced as yet.
Additionally, Keller Williams announced its partnership with Offerpad. This partnership is intended to enable agents to make instant cash offers to sellers looking to sell their homes quickly via Keller Offers.
Redfin’s Concierge Program is zeroing in on homes having a value of $500,000 and above. Redfin is now paying for the costs of deep cleaning, staging, landscaping, etc. to facilitate sales. Currently a pilot program in select markets, no timeline has yet been announced for a complete rollout in all Redfin markets.
Compass Concierge provides staging and renovations for its customers with no upfront costs. Nothing specific defines what “upfront costs” mean and/or how much/if/when those upfront costs would be paid by Compass sellers.
ERA Real Estate announced its concierge program, ERAMoves in late August. This program allows ERA agents to give their clients discounts and exclusive offers via their agent-branded personalized emails from national retailers like movers, painters, etc. The program also provides one-phone-call connections for all needed/wanted utility services.
Simon Cohen, CEO of ERA Real Estate, said, “(ERA affiliated agents) are able to send true value-added communications, providing their clients with ways to manage their moves and their lives, keeping the agent at the center of not just the home-buying experience, but the entire homeownership life cycle. In addition, this gives ERA affiliated brokers the opportunity to develop a passive revenue stream for servicing clients and prospects. Everybody wins.”
Look for more of these brokerage concierge programs as the market becomes tighter.
Thanks to InmanNews for source data.
Also read: https://timandjulieharris.com/2019/09/03/are-bidding-wars-past-tense.html