In this episode of The Hyperfast Agent Podcast, host Dan Lesniak speaks with Steven Papageorge about a strategy to find more homes that meet your buyer’s criteria. In a time where inventory appears to be low, real estate agents need to be creative when looking for houses, and Steven knows just how to do that!
Episode Highlights:
- Steven does the majority of his work in Northern Virginia.
- Born and raised in Northern Virginia, Steven started Design Pro with his brothers 11 years ago.
- Design Pro jobs range from small inspection jobs to major additions and renovations.
- There has been a surge in outdoor living space projects since the pandemic started back in March.
- People need more space at their houses now that everyone is home because of the virus.
- A lot of markets are experiencing tighter inventories right now.
- Partnering with the right contractor can expand the inventory that real estate agents have for their clients.
- Contractors can provide consultations for real estate agents in regards to renovations.
- The typical buyer, more often than not, is surprised by the renovations that they can do within their budget.
- Time frames vary depending on job size, ranging from small updates (2-4 weeks) all the way up to whole-house renovations (4-6 months).
- Drawing, design agreement, and approval all need to be factored into the timeframe.
- Real estate agents need to make sure that their clients are aware of the timeframe, budget, and a plethora of other details.
- Try to be as efficient as possible with your time as a new entrepreneur.
- The biggest mistake that real estate agents can make is giving inaccurate information about the renovations to the client.
- Steven enjoys spending his free time with his family.
- In 5 years, Steven sees Design Pro going through massive growth and plans to invest in real estate himself.
3 Key Points:
- People are spending more time at home because of the pandemic, so Steven has seen a surge in additions of outdoor living spaces.
- By providing renovation consultations, contractors can partner with real estate agents and ultimately expand the agent’s inventory.
- The more questions that an agent can ask, the more options they can provide to their clients.
Tweetable Quotes:
- “Since the lockdowns happened, there was a little bit of a lull right when things set in...then a couple of weeks passed and things started going crazy.” - Steven Papageorge
- “If a client needs something that’s updated, renovated, but it’s not in their price range...well, if they’ve got the right contractor, now they can look at stuff that’s cheaper.” - Dan Lesniak
- “In an ideal situation, they purchase the house but can be staying somewhere else where we come in and renovate.” - Steven Papageorge
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