Concierge professionals are not new…what is “new” is actually “old school” for real estate professionals…immediate access, no waiting, up-front-no-interest loans for staging and home improvements…the same services and programs independent real estate firms have been offering for years.

Now, the likes of Keller Williams, Sotheby’s, Coldwell Banker, Redfin, Compass and other large firms are getting into the “concierge” act. These firms are offering different services and programs but the bottom line is the same…cash-free, up-front property preparations and improvements granted to sellers prior to the house actually being sold. Once the house is sold, then the firms recoup their costs.

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What can smaller brokerages and independent agents do to compete with these large firm concierge offerings?

  1. Build your own concierge service program.
    1. Provide up-front, no-interest loans to your clients or partner with a team of agents to create a loan program.
    2. Create a solid network of building professionals, inspectors, contractors, painters, etc. so you can get the work done quickly and efficiently.
    3. Protect yourself by specifying in your listing agreement that if the seller backs out of the deal, they are to fully reimburse you for any costs you incur or…place a lien on the property.
  2. Beef up your marketing to promote your hands-on approach and use the term “concierge” A LOT.
  3. Partner with a third party with a person/business who can do all the improvements, staging, moving, storage, permits, insurance and licensing when you don’t have time to do all that’s required to properly present the house to potential buyers.
    1. Curbio provides turnkey renovations using proprietary tech.
    2. Zoom Casa does the same as above.
    3. Many regions around the country have small outfits who this work. Just Google it.

 

Thanks to Troy Palmquist and Linnette Edwards writing for InmanNews for source material.

Also read: Issues That May Define Cities in 2020’s, Podcast: Exclusive Interview with HGTV, Tarek El Moussa, Podcast: Is Your Broker Making YOU “Broker”?