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Sign into your accountHome Improvements: Make them Count!
April 13 2014
Have you ever sat with a client who asked you what their remodeled bathroom is worth? What about their recently renovated kitchen? What about a client who wants to know how much replacing windows or a roof on a house they are looking at purchasing will increase the home's value? Clients want to get the most for their house, and who can blame them? For most homeowners, every penny counts. And as a REALTOR®, you want to provide them with accurate information to make these decisions. REALTORS® need an efficient, yet accurate way to calculate home improvement values.
RPR®'s "Refine the Value Based on Home Improvements" tool allows REALTORS® to take the guesswork out of calculating home renovations. By partnering with Hanley Wood, an aggregator of residential and commercial construction data, as well as publisher of "Remodeling" magazine, RPR has built a tool that calculates home improvements down to the zip code level. Let's look at 3 different examples of how this tool helps REALTORS® impress their clients.
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Homeowners in San Jose, CA are looking to list their house. They want to ensure that while their house is 'priced to sell', the list price reflects their brand new kitchen. You find out by asking the homeowners how much they spent upgrading their kitchen and find that they spent $46,000 last summer. By using RPR's "Refine the Value Based on Home Improvements" tool, you find that their $46,000 mid-range kitchen they remodeled in July of 2013 is worth $33,168 today.