As the Triangle real estate market rebounds from the rush caused by the pandemic, there is still great news for those thinking about selling. It’s still a seller’s market across the Triangle, and while homes are no longer selling sight unseen the way they were through the pandemic, it’s still a good time to sell. According to Triangle MLS data, homes are still getting snatched up quickly — an average of just 27 days throughout 2023 — and are still selling for around the original asking price.
Because buyers can be pickier in the current market, it may be more necessary to make smaller improvements for a fast sale. And if that makes you nervous as a potential seller, you aren’t alone. The 2023 U.S. Houzz & Home Study shows that fewer people are renovating with the intent to sell. However, a new program from Coldwell Banker may breathe new excitement into the idea of listing your home for sale. Known as RealVitalize, this program is a low-stakes way to ensure a seller gets the most value out of a home.
About RealVitalize
RealVitalize is a new program offered to The Jim Allen Group clients, via Coldwell Banker, that helps sellers maximize their home value through home repairs done by affordable and reputable local experts.
Contact us to get assistance with your home projects and maximize your home value today.
How RealVitalize works
Maybe you’ve painted a room a bold color in your current home, and you’re worried it will steer buyers away. Or perhaps you’ve got some scratches on the original wood floors that need some attention. It may be that your carpet needs to be replaced thanks to pets or young kids who have since aged up. While the costs of some renovations may seem out of reach just before you sell, RealVitalize is here to help make it easier to tackle these updates. Offered solely to Coldwell Banker clients, including those who choose The Jim Allen Group, the program provides up-front funding to get your home looking its best before you list it.
How It Works
Enroll
Your Jim Allen Group agent enrolls your property in RealVitalize and you get approval within 24-48 hours
Schedule
Your dedicated Angi Project Consultant guides you on your rennovation journey, to stay on-time and on-budget
Renovate
Work gets completed within the specified time and budget, and is backed by Angi’s quality satisfaction guarantee
Sell
When your home closes, funds will be removed from settlement proceeds – no interest, markups, or fees**
RealVitalize customers must have an active listing agreement with one of our agents. If you’re interested in utilizing the program, your agent will enroll your property, and you’ll be alerted between 24 and 48 hours if you’ve been approved. Then, RealVitalize finds, schedules, and covers the up-front fees to hire contractors through Angi. An Angi Project Consultant will guide the process and ensure the project stays on time and on budget.
RealVitalize covers the costs of the repairs and will be repaid when the home sells at closing. There are no hidden fees or markups, and you won’t pay interest fees on what you pay for repairs or updates. In addition, you can budget the sell-side commission rate up to $20,000. Any additional costs you may want to spend would need to be paid out of pocket, or you can agree to increase your agent’s commission rate to raise your budget.
For example, RealVitalize states that if the list price of the home is $500,000 and the sell-side commission rate is 3 percent, your budget would be up to $15,000.
The projects covered by RealVitalze
From large renovations to the last touches that can spruce up a home and make it look its best, the RealVitalize program can assist in numerous ways. For example, if you want to declutter to prep your home for sale, using Angi for moving and storage or even a hauling service may be a great option for you. You may want to focus on curb appeal with fresh landscaping. You may only need deep cleaning. You can also tackle plumbing issues, electrical repairs, remodels, and flooring work like wood restoration or new carpets. Or you can use the funds to purchase and install new appliances. Another great option is staging, which the National Association of Realtors (NAR) reports has a positive influence on home sales.
Services
- Carpentry
- Landscaping
- Painting
- Handyman Services
- Appliance Purchase & Installation
- Staging
- Curb Appeal Enhancements
- Carpet Cleaning
- Kitchen & Bathroom Upgrades
- Plumbing
- Drywall & Insulation
- Electrical Upgrades
- Moving and Storage
- Junk Hauling
Contact a Jim Allen Group agent today to learn more
If you need structural assistance, you will likely need to seek another solution. RealVitalize does not cover home or garage additions, and it doesn’t cover roofs. Talk to your agent to determine the solutions you may want to consider through the program and to see if it qualifies.
How the program makes sense for a seller
Our reports show that homes that undergo the RealVitalize program sell at or above listing price. The Triangle MLS shows that homes across the Triangle are averaging just under 5 percent under the original listing price, so using RealVitalize for updates and staging may be beneficial for helping you get the best price for your home.
Keep in mind that some investments are smarter than others when making updates on a home before selling. As an example, refinishing hardwood flooring typically results in a 100 percent return on investments, while a luxury kitchen or new windows may only result in a 60 percent return. Be sure to consult with a trusted real estate agent for advice as you consider the RealVitalize program and the best way to invest before moving forward.
Put your remodeling woes to rest with RealVitalize
The RealVitalize service is designed to take the stress out of home improvement projects. There’s no obligation — If you choose to enroll in the program and receive an estimate, then decide not to move forward with the job, you’ll owe no money as long as no work has been done. Best of all, there are no liens put on your home, and no credit checks to worry about as you try to keep your credit in check before buying a new home.
Finally, you’ll reimburse costs to RealVitalize on closing day**. It’s that simple.
Get in touch
If you’re interested in learning more about the RealVitalize program and how you can put it to work for you, get in touch with one of our agents today. Our team can help you navigate the ins and outs of the program to ensure you get the best offer possible.
** If listing doesn’t sell within 12 months from the first project completion, seller must pay back the full amount of covered services.
The Jim Allen Group provides access to information on this blog/website as a public service for educational purposes only. Although reasonable efforts have been made to ensure that all of the information made available is current, accurate, and complete…[read more]