In his introduction to The Five Megatrends of Real Estate Tech at Inman Connect, Mike DelPrete said, “The industry is moving very slowly, but it’s never moved this fast.” We agree with Mike (after all, our mission at Curbio is to make real estate move!) and think that makes right now an exciting time to talk about what recent real estate predictions and trends mean for Realtors® as they look to add value to their clients.
Following Inman Connect, there are two trends that are top of mind for Curbio as we think through how to help agents add value for clients in order to win more listings:
- The iBuying model: How its focus on streamlining and efficiency leaves a door open for agents
- Adjacent services: How both real estate tech companies and agents add more value to compete in a low inventory market
In DelPrete’s session on megatrends, he showed signs that iBuyers like OpenDoor and Zillow are doing everything they can to gain control—over both market share and the optimization of real estate transactions. They do so by taking financial risks. But they also hire agents as employees to develop a consistent customer experience and drive operational and economic efficiency.
iBuyers are succeeding because they do two things well. They address seller pain points and apply the same playbook to every single transaction. Knowing what to expect is nice. Receiving a streamlined experience is also nice.
But here’s what delights homeowners even more: a solution that’s catered to their specific needs. One that’s crafted by an expert and uniquely balances their priorities. In many cases, homeowners are unaware of the possibilities, and it’s your duty as an agent to help them understand their selling options.
Real estate is not one-size-fits-all
At the end of the day, when homeowners consider selling their homes, they care most about three things: minimizing their stress, selling quickly, and achieving their target list price. iBuyers address time and stress beautifully, but the streamlined process requires a significant financial sacrifice that many homeowners are unwilling to make.
Homeowners each have a different balance of priorities, and while selling quickly is most important for some, the most successful agents cater to all seller situations. Even Opendoor appears to recognize this, as it’s added an option to list with Opendoor.
Do you provide services that give your clients options to achieve what matters most to them?
How agents can compete
Most agents don’t have giant marketing budgets that can amplify their voices to be the loudest in the room. So how can you compete?
By being versatile.
iBuyers follow a playbook. Their strength lies in providing a consistent, predictable, streamlined experience. An agent’s strength lies in versatility and the ability to personalize their process to fit each and every homeowners’ specific needs—and that brings us to the second trend.
The battle for adjacent services
DelPrete identified the “battle for adjacent services” as a trend within the industry and touched primarily on mortgage and title services as easy wins for PropTech companies who have gotten closer and closer to the transaction.
In our 2021 Agent Playbook, we focused more on how agents can use adjacent services to personalize a home sale plan to compete within an increasingly competitive industry. One of these adjacent services is that which iBuyers use themselves after purchasing a home as-is: pre-listing home improvements.
Of course, there are other services you can provide as an individual agent. But pre-listing projects offer a major opportunity to add value since virtually all homes need some updates to get market-ready. As the leading national home improvement company for Realtors®, we want to highlight how pre-listing home improvements can make you more competitive and add value to your clients.
By partnering with Curbio, you can present your sellers with multiple options for selling, customizing your home sale process to fit their specific needs. If time is of the essence, then use Curbio for a few touch-ups and repairs to get the home ready for market quickly and prevent hiccups with inspections on the backend of the sale. If they care most about maximizing their profit, we’ll work together as a team to identify the home improvements that could add value and significantly increase list price to match that comp around the block. Don’t forget to tell them we defer payment until closing!
Some sellers will prefer the iBuyer experience because they care most about minimizing time and stress—and that’s okay. Just don’t let anyone in your market sell as-is and make the financial sacrifice when you can provide better options, and ultimately a better balance for their unique priorities.