Renovation Sells’ Michael Valente Discusses the Opportunity for Skyrocketing Pre-Sale Renovation ROI, the Popularity of Digital Home Buying and How Realtors Can Stand Out in a Competitive Market

The U.S. is currently experiencing a red-hot real estate market and even with news that the Fed will continue to increase interest rate hikes throughout 2022, it’s not expected to slow down. According to Michael Valente, CEO of the home renovation franchise Renovation Sells, there will be a continued demand for homes that are turnkey with modern updates.

“Right now, buyers are willing to pay a premium for move-in-ready homes,” he said. “In fact, one in six millennial homebuyers are willing to spend more than $100,000 over asking price for their dream home.”

And while that number may sound astounding to some, what’s even more interesting is that a significant portion of today’s buyers are also willing to purchase a home without having ever stepped foot on the property. “Due to this willingness to purchase sight unseen, there is a great opportunity for sellers to maximize the equity in their home,” said Valente. “Sure, you could sell your house today, but what if you could put in $30,000 for renovations and end up making $100,000 just off that investment.”

Trends to Expect in Real Estate Throughout 2022

Inventory on available homes for sale remains low, and Valente said he doesn’t expect that to significantly improve during the year. “There are more buyers than sellers,” he said. “And I don’t think a rise in interest rates is going to help solve the current inventory shortage.” But with an added focus on digital home-buying, Valente emphasized the importance of having a home that is turnkey and move-in-ready. “You need to have images online that are going to attract buyers,” he explained. “Without doing pre-sale renovations, sellers are doing themselves a disservice and leaving money on the table.”

To help realtors and their clients navigate the home renovation process, Renovation Sells offers sellers a unique opportunity to streamline the renovation process through its relationships with agents, design and simple business model. “In a world so focused on technology and developing the next best app, we’re putting our attention toward building relationships and problem solving in a people business,” said Valente.

Renovation Sells adds value to realtors as well. Home sellers, and buyers, often turn to a real estate agent to help them navigate the real estate transaction process. “Consumers hire real estate professionals based on who they know and who can get them through the entire process,” said Valente. “This includes staging vendors and pre-sale renovation advice, and our business helps agents look like an even better resource, adding another service that they’re able to offer home sellers.”

Renovation Sells Continues to be a Leader in the Home Renovation Industry

If buyers don’t like what they’re seeing online within a few seconds, they move on to the next listing. Renovation Sells aims to create beautiful homes that look appealing online in order to increase demand before a buyer even steps into the home. . “Eye-catching, Instagram-worthy photos are more important than ever,” said Valente. “If you have a finished home, you can maximize your value and sell to someone who doesn't even need to walk into it.”

“Pre-sale renovations are here to stay,” said Valente. “We’re at the forefront of where staging was a decade ago, and as it becomes the norm, we want to help sellers maximize their home’s value without significant investment.”