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Presale renovation company Revive and real estate company NextHome have fastened together a partnership to provide homesellers access to a solution for facilitating efficient, technology-supported interior updates.
The service’s launch will be formally announced at the 2023 NextHome Conference, March 9 to 11 in Houston, Texas, the announcement sent to Inman notes.
Calling NextHome the “franchise of the future,” Revive CEO and founder Michael Alladawi said in the announcement that the company is known for recognizing innovation.
“Together, we can deliver more of what buyers want in today’s market: Move-in ready homes,” he added.
Revive — the 2022 winner of the IOI Summit Pitch Battle — helps agents communicate to sellers the value of updating their homes prior to putting them on the market. The company’s software supports a costing model and offers estimates on post-project market value.
The software uses different user views and tools for sellers, agents and contractors. Renovation plans are assembled by Revive staff who use localized market data and previous projects to arrive at estimates and work with contractors. The company handles all aspects of carrying out the construction, focusing mostly on kitchens, bathrooms and smaller-scope redos.
NextHome agents will be tasked with inviting their sellers to the system, entering the listing information and choosing a few comps used by Revive throughout the relationship.
“Homesellers gain an average of $186,000 in additional profit when selling their homes with Revive,” the company stated.
Presale renovations typically start within seven days of finalizing an agreement and average a steady four to six weeks for completion, ensuring a minimal amount of off-market time.
Indy brokerage NextHome has more than 5,500 NextHome agents in 610 offices across 48 states. For the third straight year, Franchise Business Review named it the top franchise business in the U.S. and Canada, beating out 199 notable consumer goods brands and real estate companies, Inman reported.
“Having NextHome ranked the No. 1 franchise in the country for the third year in a row is not only an honor but a testament to our franchise model’s continued success in an industry that’s continually evolving,” CEO of NextHome James Dwiggins said in a January statement.
Revive is the second notable technology partnership NextHome has cemented. A year ago, it hired Inside Real Estate to deploy its enterprise software, kvCORE Platform, throughout its operation.
NextHome’s offices, teams and agents will be privy to the gamut of kvCORE’s offerings, including, among other aspects of the technology, mobile-responsive IDX-integrated websites, organic lead generation tools, BombBomb-driven video email campaigns and mass-text marketing.
“Presale renovations offer homeowners a $300 billion additional profit opportunity,” said Revive co-founder Dalip Jaggi in the announcement.
Because its clients’ homes sell for more, agents typically receive a 22 percent higher commission and win 40 percent more listings, Jaggi also said.