{"id":139107,"date":"2021-07-19T13:30:00","date_gmt":"2021-07-19T19:30:00","guid":{"rendered":"https:\/\/www.biggerpockets.com\/blog\/?p=139107"},"modified":"2023-03-28T05:26:55","modified_gmt":"2023-03-28T11:26:55","slug":"concierge-renovation-service","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/concierge-renovation-service","title":{"rendered":"Realtors: Should You Offer Concierge Services to Your Turnkey Clients?"},"content":{"rendered":"\n\n      <iframe loading=\"lazy\" frameborder=\"0\" height=\"200\" scrolling=\"no\" src=\"https:\/\/playlist.megaphone.fm?e=BIGPOC7942568132&#038;light=false\" width=\"100%\"><\/iframe>  \n\n\n\n\n<p>It\u2019s no secret that the real estate market is red hot across the United States. Realtors competing to win listings are always looking for ways to differentiate themselves from the competition.<\/p>\n\n\n\n<p>Enter home concierge services.<\/p>\n\n\n\n<p>Home concierge started as a way to lend money to homeowners for updates before selling. It has evolved to mean much more. Now, companies offer a full-service concierge service to provide home renovation estimates, front the capital, manage contractors, and more.<\/p>\n\n\n\n<p>In other words, a home concierge provides the infrastructure to create a turnkey solution. This increases the potential return for homeowners and appeals to the massive millennial buyer market.<\/p>\n\n\n\n<p>Many real estate firms have already recognized the need for home concierge. While major firms such as Compass have created their own service, other real estate agents team up with outside companies.<\/p>\n\n\n\n<p>We\u2019ve had the pleasure of sitting down with Revive Concierge co-founder Dalip Jaggi to discuss the ins and outs of home concierge. As a tech entrepreneur and former CTO of Rich Uncles, Jaggi is no stranger to the world of real estate innovation.<\/p>\n\n\n\n<p>Here\u2019s what we learned.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Give clients a leg up on the competition<\/h2>\n\n\n\n<p>Historically, it\u2019s the Realtors who evolve that are best equipped to outlast the others. Home concierge is one way to propose a new solution to an already existing problem.<\/p>\n\n\n\n<p>It may seem like selling as-is, with some staging or paint touch-ups, is enough in the current market. You <em>could<\/em> sell as-is and still get a bidding war. Even so, there are situations where renovation is the best option for clients.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n  <div id=\"posts_lists-block_60f089282d73e\" class=\"  my-10\">\n    <div class=\"\">\n      <!-- Column One -->\n      <div>\n                  <h2 class=\"mt-0 mb-1 js-toc-ignore\">\n            More advice for agents from BiggerPockets          <\/h2>  \n                  \n        \n        \n        <div class=\"grid grid-cols-1 gap-y-4 lg:gap-y-7 mt-5\">\n          \n<article \n\tid=\"post-78931\" \n\tclass=\"content-card mb-0 flex flex-col  post-78931 post type-post status-publish format-standard has-post-thumbnail hentry category-biggerpockets-daily category-real-estate-partnerships\">\n\n\t<header class=\"entry-header\">\t\t\t\n\t\t<!-- Image -->\n        \t\t\t<a class=\"post-thumbnail\" href=\"https:\/\/www.biggerpockets.com\/blog\/real-estate-brokerage-pros-cons\" target=\"\" aria-hidden=\"true\" tabindex=\"-1\" target=\"_blank\">\n\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"338\" height=\"225\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2020\/08\/big-name-brokerages-2.png\" class=\"size-card w-full  m-0 aspect-[68\/45] object-scale-down wp-post-image\" alt=\"7 Pros and Cons of Big Name Brokerages for Real Estate Investor-Agents\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2020\/08\/big-name-brokerages-2.png 1360w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2020\/08\/big-name-brokerages-2-300x200.png 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2020\/08\/big-name-brokerages-2-1024x682.png 1024w\" sizes=\"auto, (max-width: 338px) 100vw, 338px\" title=\"\">\t\t\t<\/a>\n\t\t        \n\n\t\t<!-- Content Wrapper -->\n\t\t<div class=\"py-4 \">\t\n                            <div class=\"flex gap-4 justify-between items-center\">\n                    <!-- Category  -->\n                                            <a href=\"https:\/\/www.biggerpockets.com\/blog\/category\/biggerpockets-daily\" class=\"transition-colors bg-themeBlue\/20 text-themeBlue-medium hover:bg-themeBlue hover:text-white px-2 py-1 mb-2 inline-block rounded-sm no-underline text-sm\" target=\"_blank\">BiggerPockets Daily<\/a>\n                    \n                                            <span class=\"text-sm text-gray-500 hidden lg:inline-block\">5 min read<\/span>\n                                    <\/div>\n            \n           <div class=\"flex gap-3 items-center my-2 flex-nowrap text-base\">\n                <!-- Avatar and Author Name -->\n                <img decoding=\"async\" src=\"https:\/\/bp-wp-migration.s3.amazonaws.com\/author_avatars\/1672.jpg\" class=\"w-8 h-8 object-cover my-0 inline-block rounded-full\" alt=\"\" title=\"\"><span class='leading-snug text-slate-500 flex items-center'><span class='hidden whitespace-nowrap sm:inline-block md:hidden lg:inline-block pr-1'><span class='posted-on'><time class=\"entry-date published\" datetime=\"2020-08-20T10:00:02-06:00\">Aug 20, 2020<\/time><time class=\"updated\" datetime=\"2024-01-15T12:48:04-07:00\">Jan 15, 2024<\/time><\/span><\/span>&nbsp;<a href='https:\/\/www.biggerpockets.com\/blog\/contributors\/engelorumora' class='no-underline line-clamp-1' target=\"_blank\">Engelo Rumora<\/a><\/span>            <\/div>\n\n            <!-- Post title -->\n\t\t\t<h2 class=\"entry-title js-toc-ignore mt-4 mb-0 text-xl leading-snug text-left\">\n\t\t\t\t<a href=\"https:\/\/www.biggerpockets.com\/blog\/real-estate-brokerage-pros-cons\" rel=\"bookmark\"  \n\t\t\t\t\tclass=\"whitespace-normal no-underline font-bold  text-slate visited:text-slate hover:text-themeBlue\" target=\"_blank\">\n\t\t\t\t\t7 Pros and Cons of Big Name Brokerages for Real Estate Investor-Agents\t\t\t\t<\/a>\n\t\t\t<\/h2>\n\t\t\t\n                        <p class=\"text-lg font-normal mt-3 text-slate-500 mb-1 line-clamp-3\">Working with a big real estate brokerage can cost time and commissions\u2014but there are major advantages, too. Weigh the pros and cons here.<\/p>\n\t\t<\/div>\n\t<\/header>\n     <footer class=\"flex justify-between mt-auto\">\n        <!-- Comment Count -->\n        \t\t<span class='flex items-center space-x-2 text-sm' x-cloak x-data='commentCount()' :class=\"parseFloat(commentCount) < 1 || commentCount == '' ? 'hidden' : 'flex'\">\n\t\t\n            <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"h-5 w-5 text-slate text-opacity-50\" fill=\"none\" viewBox=\"0 0 24 24\" stroke=\"currentColor\">\n                <path stroke-linecap=\"round\" stroke-linejoin=\"round\" stroke-width=\"2\" d=\"M17 8h2a2 2 0 012 2v6a2 2 0 01-2 2h-2v4l-4-4H9a1.994 1.994 0 01-1.414-.586m0 0L11 14h4a2 2 0 002-2V6a2 2 0 00-2-2H5a2 2 0 00-2 2v6a2 2 0 002 2h2v4l.586-.586z\" \/>\n            <\/svg>\n\n            <span x-ref=\"comment_count\" class=\"disqus-comment-count text-slate text-opacity-80\" data-disqus-identifier=\"78931\">\n\t\t\t\t\t\t\t<\/span>\n        <\/span>\n\t    <\/footer>\n<\/article><!-- #post-78931 -->\n<article \n\tid=\"post-122432\" \n\tclass=\"content-card mb-0 flex flex-col  post-122432 post type-post status-publish format-standard has-post-thumbnail hentry category-real-estate-news\">\n\n\t<header class=\"entry-header\">\t\t\t\n\t\t<!-- Image -->\n        \t\t\t<a class=\"post-thumbnail\" href=\"https:\/\/www.biggerpockets.com\/blog\/how-will-the-role-of-real-estate-agents-change-in-20-years\" target=\"\" aria-hidden=\"true\" tabindex=\"-1\" target=\"_blank\">\n\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"338\" height=\"225\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2020\/02\/crystal-ball-future.jpg\" class=\"size-card w-full  m-0 aspect-[68\/45] object-scale-down wp-post-image\" alt=\"How Will the Role of Real Estate Agents Change in 20 Years?\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2020\/02\/crystal-ball-future.jpg 830w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2020\/02\/crystal-ball-future-300x200.jpg 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2020\/02\/crystal-ball-future-768x512.jpg 768w\" sizes=\"auto, (max-width: 338px) 100vw, 338px\" title=\"\">\t\t\t<\/a>\n\t\t        \n\n\t\t<!-- Content Wrapper -->\n\t\t<div class=\"py-4 \">\t\n                            <div class=\"flex gap-4 justify-between items-center\">\n                    <!-- Category  -->\n                                            <a href=\"https:\/\/www.biggerpockets.com\/blog\/category\/real-estate-news\" class=\"transition-colors bg-themeBlue\/20 text-themeBlue-medium hover:bg-themeBlue hover:text-white px-2 py-1 mb-2 inline-block rounded-sm no-underline text-sm\" target=\"_blank\">News &amp; Trends<\/a>\n                    \n                                            <span class=\"text-sm text-gray-500 hidden lg:inline-block\">4 min read<\/span>\n                                    <\/div>\n            \n           <div class=\"flex gap-3 items-center my-2 flex-nowrap text-base\">\n                <!-- Avatar and Author Name -->\n                <img decoding=\"async\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/09\/cropped-6FF41C60-9A90-46C0-92ED-60706EA20EE2-scaled-1-150x150.jpeg\" class=\"w-8 h-8 object-cover my-0 inline-block rounded-full\" alt=\"\" title=\"\"><span class='leading-snug text-slate-500 flex items-center'><span class='hidden whitespace-nowrap sm:inline-block md:hidden lg:inline-block pr-1'><span class='posted-on'><time class=\"entry-date published\" datetime=\"2020-03-09T10:00:52-06:00\">Mar 09, 2020<\/time><time class=\"updated\" datetime=\"2021-09-12T20:59:57-06:00\">Sep 12, 2021<\/time><\/span><\/span>&nbsp;<a href='https:\/\/www.biggerpockets.com\/blog\/contributors\/matt-myre' class='no-underline line-clamp-1' target=\"_blank\">Matt Myre<\/a><\/span>            <\/div>\n\n            <!-- Post title -->\n\t\t\t<h2 class=\"entry-title js-toc-ignore mt-4 mb-0 text-xl leading-snug text-left\">\n\t\t\t\t<a href=\"https:\/\/www.biggerpockets.com\/blog\/how-will-the-role-of-real-estate-agents-change-in-20-years\" rel=\"bookmark\"  \n\t\t\t\t\tclass=\"whitespace-normal no-underline font-bold  text-slate visited:text-slate hover:text-themeBlue\" target=\"_blank\">\n\t\t\t\t\tHow Will the Role of Real Estate Agents Change in 20 Years?\t\t\t\t<\/a>\n\t\t\t<\/h2>\n\t\t\t\n                        <p class=\"text-lg font-normal mt-3 text-slate-500 mb-1 line-clamp-3\">The real estate industry is changing rapidly. How will this affect real estate agents and their brokerages? In this article, we go over the potential shifts the industry could experience&hellip;<\/p>\n\t\t<\/div>\n\t<\/header>\n     <footer class=\"flex justify-between mt-auto\">\n        <!-- Comment Count -->\n        \t\t<span class='flex items-center space-x-2 text-sm' x-cloak x-data='commentCount()' :class=\"parseFloat(commentCount) < 1 || commentCount == '' ? 'hidden' : 'flex'\">\n\t\t\n            <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"h-5 w-5 text-slate text-opacity-50\" fill=\"none\" viewBox=\"0 0 24 24\" stroke=\"currentColor\">\n                <path stroke-linecap=\"round\" stroke-linejoin=\"round\" stroke-width=\"2\" d=\"M17 8h2a2 2 0 012 2v6a2 2 0 01-2 2h-2v4l-4-4H9a1.994 1.994 0 01-1.414-.586m0 0L11 14h4a2 2 0 002-2V6a2 2 0 00-2-2H5a2 2 0 00-2 2v6a2 2 0 002 2h2v4l.586-.586z\" \/>\n            <\/svg>\n\n            <span x-ref=\"comment_count\" class=\"disqus-comment-count text-slate text-opacity-80\" data-disqus-identifier=\"122432\">\n\t\t\t\t\t\t\t<\/span>\n        <\/span>\n\t    <\/footer>\n<\/article><!-- #post-122432 -->        <\/div>\n      <\/div>\n    <\/div>\n  <\/div>\n\n  \n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">Provide personalized options<\/h2>\n\n\n\n<p>A personalized plan goes a long way. Jaggi notes that it\u2019s about giving the client more choices based on their specific needs.<\/p>\n\n\n\n<p>\u201cHaving a renovation plan as an option gives Realtors another tool in their toolkit to work with,&#8221; he says. &#8220;Working with a home concierge service, they can pair the traditional CMA presentation with a renovation plan as a potential option. Based on projections, the homeowner can choose the best option for their situation.\u201d<\/p>\n\n\n\n<p>To be clear, renovation doesn\u2019t apply in every situation. When a house does need work, it offers homeowners a way out other than selling as-is. This has long been a conundrum that many homeowners face. If a Realtor comes to the table with solutions, it propels them from a person who sells houses to a true problem solver.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Position yourself as an industry expert<\/h2>\n\n\n\n<p>Having home concierge as an option positions Realtors as industry experts. It shows innovation and creativity when most people aren\u2019t going above and beyond. More importantly, a well-executed renovation gets results.<\/p>\n\n\n\n<p>\u201cRealtors are judged on results. A successful turnkey renovation will lead to higher sales, increasing the potential of future sales in the area,&#8221; says Jaggi. &#8220;Homeowners in the neighborhood will look to this Realtor as an expert if they see these results.\u201d<\/p>\n\n\n\n<p>Garnering a reputation as someone who can deliver is great for repeat business and attracting new clients. As an early adopter of home concierge, you have a competitive advantage.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">How to discuss home concierge with your clients<\/h2>\n\n\n\n<p>Realtors have always been a source of information and guidance for buyers and sellers. The best way to introduce home concierge is by educating them on the subject rather than making it a sales pitch.<\/p>\n\n\n\n<p>\u201cFrame it as a tool in your toolkit,&#8221; suggests Jaggi. &#8220;By offering it as an option and explaining what your vision of a renovation plan is, you both can make an informed decision together.\u201d<\/p>\n\n\n\n<p>To steer your conversation in the right direction, you\u2019ll want to highlight certain areas of improvement around the home. Educate your clients on the meaning of turnkey and buyer trends. Another way to delve into this topic is to explain how the process works from start to finish.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What to expect from home concierge services<\/h2>\n\n\n\n<p>The real value that home concierge services offer comes from taking the guesswork out of renovations. Realtors team up with companies that have existing systems and networks to ensure that the process runs smoothly.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Before the process starts, they come up with renovation plans based on achieving the maximum ROI. This includes choosing the right materials and renovations based on the area.<\/li>\n\n\n\n<li>Companies then lend money based on estimates for the project. Some charge interest on the money, while others take a cut at closing.<\/li>\n\n\n\n<li>Full-service companies have networks of contractors who have already been vetted and manage them throughout the process. Not all companies have this option, so Realtors need to ask, or they could get stuck managing a renovation.<\/li>\n\n\n\n<li>Throughout the process, full-service concierge companies also serve as liaisons to keep Realtors and homeowners informed. This gives a hands-off experience to Realtors and clients.<\/li>\n<\/ul>\n\n\n\n<p>Overall, it\u2019s an incredibly streamlined engagement, which makes it replicable across numerous properties.<\/p>\n\n\n\n<p>\u201cRevive alone has over 100 projects functioning at any given time,&#8221; says Jaggi. &#8220;That means if you\u2019ve got more than one property under your belt, a home concierge service can help you take care of them all.\u201d<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">Home concierge is the future of real estate<\/h2>\n\n\n\n<p>Many real estate brokerages across the country are either considering concierge or are already offering it. There\u2019s no question about it. Home concierge is going to be the standard within the next few years.<\/p>\n\n\n\n<p>Realtors who become early adopters will stand out simply by having this option at their disposal. It gives both the Realtor and the client a ton of creative agency, empowering them to make the best decision rather than one of necessity. Furthermore, they will appear to be innovative thought leaders in an ever-evolving space.<\/p>\n\n\n\n<p>What we\u2019re seeing right now is a trend of personalization and situational products for consumers in the real estate market. Although concierge as the standard is still a few years into the future, it\u2019s only the start of a big movement to offer more options to match buyers&#8217; and sellers&#8217; needs.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Home concierge started as a way to lend money to homeowners for updates before selling. It has evolved to mean much more. Now, companies offer a full-service concierge service where they provide home renovation estimates, front the capital, manage contractors, and more.<\/p>\n","protected":false},"author":159074,"featured_media":139128,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7119,4241],"tags":[],"class_list":["post-139107","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-biggerpockets-daily","category-real-estate-business-management"],"acf":[],"comment_count":0,"_links":{"self":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/139107","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/users\/159074"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/comments?post=139107"}],"version-history":[{"count":0,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/139107\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media\/139128"}],"wp:attachment":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media?parent=139107"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/categories?post=139107"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/tags?post=139107"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}