Fear of renovating can cause homebuyers to pass on listings that would be a good fit with a little TLC. A real estate website widget from home renovation marketplace Kukun is designed to eliminate the skittishness. It makes estimates of the cost and return on investment of renovation projects available on listings.

Fear of renovating can cause homebuyers to pass on listings that would be a good fit with a little TLC. In inventory starved markets, ruling out these properties may unnecessarily limit a home hunter’s possibilities.

A real estate website widget from home renovation marketplace Kukun is designed to eliminate the skittishness. It makes estimates of the cost and return on investment of renovation projects available on listings.

Intero Real Estate Services, a San Francisco Bay Area brokerage owned by Berkshire Hathaway Home Services, recently added the widget to its property search site with the aim of curing buyers of “Renophobia,” the company announced.

Early results suggest the tool is a hit. About 30 percent of listings on Intero’s site have received cost estimate requests, and one out of 10 users of the tool choose to search for contractors through Kukun, according to Intero Real Estate Services.

“The Kukun solution not only offers the cost but the equity you can build and also the list of contractors that the neighbors have used so you can vet them,” said Derek Overbey, director of innovation at Intero Real Estate Services.

Project cost and ROI estimates from Kukun for listing on interorealestate.com. Pins represent documented renovation projects.

“The partnership should address the hesitations that homebuyers have when they buy properties that need work, which is quite frequent,” he added.

Homebuyers can click a tab on interorealestate.com listing pages and then specify a project type. That generates estimates of the project’s cost and return on investment, as well as an estimate of what the home’s value would be after the project.

After viewing a renovation cost estimate, buyers have the option to click over to Kukun to try and hunt down a contractor to perform the work.

They will also be able to view project permits in a home’s neighborhood. That way, they can home in on popular contractors in the area.

Email Teke Wiggin.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Prepare for this fall with top agents & brokers at Connect Now this Tuesday.GET YOUR TICKET×
Limited time: Get 30 days of Inman Select for $5.SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription