How Agents Can Create Supply For Today’s Demand
Inventories are low, new construction has slowed due to shortages, and an overwhelming majority of homes in existence today are over 20 years old. Together, these three factors create another tough year for agents, tough but not impossible. In this article, we’ll walk you through how to create a supply for the current demand and work your way through construction shortages to create a supply for today’s homebuyers.
Educate sellers on the value of updating their home
There is more demand than supply for new construction, yet housing starts have slowed due to construction constraints. While inventory is generally low, the supply of ready-to-move-in homes, which the majority of homebuyers are looking for today, is even lower. But there is good news! With the rise of janitorial services like Curbio, the industry is helping both agents and homeowners realize the value of updating homes for sale.
By upgrading their home before they sell, your clients will have more money in their pockets, and therefore more money to upgrade their next home purchase (regardless of market conditions). But what’s best is that by modernizing their homes before they sell, your customers are creating a supply for modern demand. On the flip side, if you’re struggling to find the right home for your buyers, pre-move home improvements might be the answer.
Buyers today prefer move-in homes so much that they’re willing to sacrifice square footage. In fact, 70% of millennials will sacrifice space to move in. Sadly, nearly 80% of households in the United States are now at least 20 years old and 40% are at least 50 years old. As a result, most homes need some upgrading before they are put on the market. Concierge services can financially support these updates, but can they function well with the construction constraints we are currently facing?
How to find reliable resources for upgrades
While the construction industry largely recovered from the Great Recession of 2008, many skilled workers who left the construction industry in the United States never returned and many who stayed. are ready to retire. Pair these departures with the fact that there has not been a constant influx of new workers from the younger generations due to negative perceptions around the industry, and you have a serious shortage of skilled workers. In addition to labor, many goods are also scarce, including doors, appliances and, of course, lumber.
Due to these shortages of goods and services, agents struggle to find contractors available to carry out the simplest projects for their transactions. Unfortunately, the construction industry has remained the same for decades, which means that once agents are able to find a contractor and start a project, they and their clients face multiple delays and surprises, as well as additional costs.
What agents need is a reliable company that will work efficiently and resolve issues quickly to avoid delays that put transactions at risk – and that’s where Curbio supports you.
We are available to immediately start projects of any size, and at any time during your transaction. To streamline the process and make home improvements accessible, we defer payment for all of our projects. Curbio’s full-time project managers and its network of licensed and trained trade professionals allow us to get started immediately. Once we get started, we avoid delays in bringing your SEO to market through careful coordination of subcontractors and strategic relationships with domestic material suppliers.
You can think of us as a home improvement team on hand, but we don’t offer the additional cost of many other on-demand services (like Uber Eats). To give you and your clients peace of mind knowing that you are receiving a good price for your projects, we even offer a Price Match Guarantee.
Learn more about how Curbio works to help agents navigate to the closing table.