As Baby Boomer home sellers look for cost-effective updates to make their listings appeal to the needs of incoming Millennial homebuyers, Renovation Sells saw a 20% increase in year-over-year sales.
Renovation Sells, the Chicago-based renovation franchise that makes pre-sale renovations to bring homes ready for market, saw a 20% increase in year-over-year sales in 2020.
This growth is largely because, over the past year, the pandemic created historically low mortgage rates and the ability to work from home, at the same time that the real estate industry saw Millennial homebuyers flooding the market. Even prior to the pandemic, Millennials—America’s largest generation—were starting to reach home buying age.
Now, these factors have resulted in the highest home sales since 2006, with no signs of slowing down.
While this is great news for sellers, there is just one problem: many of the homes for sale don’t appeal to those younger buyers. Luckily, Renovation Sells offers the perfect solution.
“With Millennials turning homebuyer age, we have a new generation of buyers who aren’t attracted to the larger, older homes the baby boomers are now trying to offload,” founder Michael Valente said.
“They want stylish, move-in-ready homes, and that demand will continue to increase for decades to come. That means a real estate agent with a stock of relatively drab or boring homes stands to make a killing with some key upgrades, and that’s where we come in.”
Renovation Sells’s business model is built for efficiency and client satisfaction in an industry notorious for lengthy, over-budget projects and overall frustration.
Where most rehab companies take on custom projects with fickle homeowners looking to upgrade their houses for their own families, Renovation Sells instead focuses exclusively on pre-sale renovations, delivering high-impact cosmetic improvements executed to maximize speed and minimize costs.
Working with real estate agents (and their clients) to offer a turn-key solution—including design, project management and financing—to easily and quickly make their listings in line with the needs of Millennial buyers.
WIth 99% of buyers viewing listings on their phones, Valente says Renovation Sells’s goal is to make every property standout online. This is done through stylish design while keeping in mind the new industry norm of virtual tours and the importance of social media and high-quality photography.
With this winning model, Renovation Sells has carved out a niche that combines both the renovation and real estate industry and has seen explosive growth as a result. After rehabbing more than 200 Chicago-area homes with an average project time of only three weeks, Renovation Sells began franchising in 2020 as a way to bring this much-needed service to markets throughout the country. This year, despite the challenges of the COVID-19 pandemic, the Renovation Sells brand proved to not only be recession-proof, but also more in-demand than ever, with the company seeing a 20% increase in year-over-year sales.
Now, prospective Renovation Sells franchisees have the lucrative opportunity to fill this widening gap in the real estate/renovation market by leveraging the brand’s in-house design expertise, streamlined business model, exceptional support infrastructure and thriving network of real estate agents. Renovation Sells provides every resource a franchisee will need to grow in a new market. This includes help with marketing, project management technology and every other facet of the business.
“Every home in America built over five years ago needs pre-sale renovations before listing in order to appeal to today’s buyer, and Renovation Sells offers a lucrative opportunity for entrepreneurs to tap into that demand,” said Valente. “For prospects looking to invest in a proven franchise brand and enter a thriving segment, the time has never been better to join the Renovation Sells family.”