Case Sudy: Beth Blevins
An Atlanta native, Beth Blevins has called the Charlotte area her home for the past 28 years. It’s where she raised her family and where she previously worked as a bank manager and stockbroker. It’s also where she used her background in finance and investments to help her break into the real estate business 17 years ago.
Within the first two years as an agent, she quickly made a name for herself and earned her Certified Residential Specialist designation. Her specialty? Helping her sellers improve their properties by designing, updating, and staging their homes so that they can sell them for more money.
Over the years, Beth has flipped over $70 million in residential real estate, helping her clients build equity, with her company Blevins Homes and Land. When she talks to her sellers, she always leads her marketing by saying, “Let me show you how you can profit like an investor.” So, we asked Beth to share her tips for how she helps her clients build equity, sell for top dollar, and close in record time.
1. Think Like an Investor
Charlotte is one of the fastest-growing metro areas in the U.S. Realtor.com predicts that in 2021 there will be a combined growth rate of 19% in sales and home prices. Yes that demand is strong, but Beth says that doesn’t mean sellers shouldn’t try to get the best deal.
She would still recommend that sellers work to improve their property, looking at the potential profit like an investor would. “With some properties, you can make another $30,000 to $40,000 or more,” she says. And with that money you’re able to change what a seller can buy next. “That enables buyers to put a lot more down on their next house or buy a bigger house or it sometimes enables them to take the better job and move out of state.” All huge game-changers for her clients.
2. Choose the Right Renovations for Maximum ROI
House flipping has been rising in popularity across the U.S. According to ATTOM Data Solutions, at the end of Q2 in 2020, 6.7% of homes sold were flipped, up from 5.7% in 2017. Successfully flipping houses requires knowledge, planning, and skill — all areas in which Beth has excelled. She’s a big-time believer in putting in some elbow grease if it means it will result in more equity.
Recently, Beth helped a single mother renovate, design, and stage her well-loved home and received seven offers within the first three hours of listing. By first moving the family out, choosing the appropriate renovations, and staging the house properly, Beth was able to sell the home for $340,000-$20,000 above asking price! Her client received a net of $55,000 profit over the cost of renovations at closing and was able to pay off her debt, save some money, and buy a better house with a lower payment. A win for all!
Beth advises properly evaluating the property first and running the numbers for feasibility. Yes the kitchen needs love, but what finishes and colors are on trend? What materials and design styles work best for the home’s architecture and budget? Doing the right renovations makes all the difference, whether it is something small like choosing the right paint color, or something big like restyling the kitchen. This can be particularly important for homes that have had the same owner for a long time and could use a modern update before buyers come through.
3. Buy and Move First, Sell Later
If you can buy a new home first and sell your current home later, that is ideal. However, this isn’t always possible for buyers who need financing for their new home, as lenders may require selling their property first. The way around this? To pay all cash. There are also a lot of other benefits to paying in cash, including a quicker and more secure close and the possibility of winning in a multiple offer situation. While not all buyers can usually afford this option, it is achievable with the right strategy.
For Beth, Ribbon has been an essential part of creating the right strategy. “It’s been a big help having Ribbon and being able to strategize with people about how to sell their home and move,” says Beth. Our solution has helped her clients move out and into their dream home right away with an all-cash, non-contingent offer. This step frees Beth and her team up to do the renovations on the past home that can make all the difference.
For example, Beth once had a client that had put an offer in on an out of state home and had to move as soon as possible. While they were busy setting up their new home, Beth and her team were able to flip the client’s old property within 30 days and give them an extra $45,000 in profit from being able to renovate and stage the property. “We couldn’t have done any of that without Ribbon,” Beth explains. Having time to make these renovations helped the property stand out, sell more quickly, and for a higher price than if it was sold as-is.
These wins are just another day at the office for Beth, and Ribbon is happy to help. To learn about how we can help your clients move into a new home and sell their current home later, set up some time with a Ribbon expert.
Originally published at https://blog.ribbonhome.com.