Have you seen the reality TV show Property Brothers? Two brothers, a remodeler and a real estate agent, work together to find and remodel affordable homes for homeowners. While their pricing and quick, easy fixes don’t seem realistic within their short time line, it’s great that the show highlights the strong relationship between a remodeler and a real estate agent.
For the past few years, I’ve actively pursued connections with real estate agents. And while our company doesn’t complete renovations in three weeks like the TV show does, we see true value in these relationships.
We’re currently managing a renovation as a result of a long-term relationship with an agent. A couple wanted a larger home in an affluent, established Indianapolis neighborhood, but many of the homes haven’t been updated in decades.
When the homeowners found a great house on a mature lot, they asked the agent about the cost of doing renovations. The agent came to us, and we met with the client to review a few ideas and try to get at their “dream” home.
While we were creating an initial estimate, the agent analyzed the neighborhood and concluded that the renovated home would still be competitively priced for the surrounding area. The couple bought the house, and we’re working on the renovation.
Our agent partner advises clients that if the estimated renovation cost is not supported by the market value of recent home sales in the area, the homeowners should not buy the house and should look for a home that better suits their needs. We come from the other angle: with homeowners who come to us for a renovation but worry about pricing themselves out of the neighborhood.
When that happens, we send them to our real estate partners for more information and they have a contact if they decide to sell. It’s mutually beneficial.
—Steve Gray is the owner of Steve Gray Renovations, in Indianapolis. His vision is to bring professionalism to the home renovation industry.
More REMODELING articles about working with real estate agents:
Remodeling for Resale: When it comes to resale, make the changes that count
Referred by Realtors: Realtor referrals boost business
Designs on Realtors: Real estate agent introductions