4516 viewsReal estate agents do far more than oversee transactions. Oftentimes, they are called upon to employ a unique blend of skills that go beyond the conventional realm of buying and selling properties. These can include interior design, construction instinct, and marketing—all of which can be utilized to transform relatively uninspiring properties into prime outlets for market demand. For Pedro Cuberos, a Brown Harris Stevens Miami Agent, this was especially true for a home he recently previewed.
Upon seeing the home, Pedro recognized several issues – cracks in the foundation, water-stained walls, missing pool waterline tiles, dated cabinetry and materials, overgrown hedges and barren landscape, among others. The clients were open to selling the home as-is after some cosmetic touchups. But at that time, they were in the midst of a competitive seller’s market and knew that they could command top dollar with very little effort. The comparative market analysis placed the home in a $1.4 million price range. Pedro, however, suggested an alternative option: renovate, redecorate and stage the home, with the ultimate goal of listing it for considerably more. Although a bit reluctant at first, the seller agreed to move forward with his suggestions.
Pedro immediately began working on a detailed spreadsheet to gather estimates and costs for improvement, identifying the most reputable contractors, and tracking the budgeted costs throughout. This seller would later use this detailed report to deduct capital gains from the sale. His suggested plan of action: renovate the kitchen, hire a contractor to level and polish the floors, apply detailed landscape architecture and then meticulously stage the home – room by room. In addition to envisioning a more aesthetic, architecturally attractive home, Pedro also recognized the intrinsic value that these renovations would make to maximize all available space, thereby making the home truly comfortable, functional and beautiful.
Over the course of 3 months, Pedro served as the liaison for the renovation: overseeing, co-ordinating and even diving into each project himself. ‘It became a passion project for me,” said Pedro. “Seeing my vision become a reality became personal.” Pedro didn’t merely rely on other professionals to execute his vision; he actively collaborated with skilled contractors to turn his creative ideas into reality. The approach ensured that the project reflected his vision and that of his clients while balancing his creativity with the constraints of the budget. He knew when to splurge on premium upgrades that would add significant value to a property and when to exercise restraint to prevent overcapitalization. In total, $55K in renovations were made.
After an intense, well-orchestrated 3-month renovation of the home, Pedro listed and sold the property at 555 NE 52 Terrace for $2.1 Million – a record-breaking price for that area, and nearly a million more than the original forecasted price. See the results of Pedro's work in the video tour above.
It is stories like these that underscore the power of qualified real estate professionals, and how their expertise can make or break not just your home sale, but a significant part of your financial future.
