A Suite of Services Designed to Prepare Your Home for the Market
Compass Concierge will pay the associated cost for home improvement work performed subject to your agreements with home service providers. We outline typical closing costs a Los Angeles home buyer may encounter in a single family home purchase.
What is the Compass Concierge Program?
The Compass Concierge program is the latest in a suite of services designed to prepare your home for the market. From deep-cleaning to cosmetic improvements, we will work together to assess opportunities to elevate your home’s value. Compass Concierge will assist you with the execution of a tailored plan for updating and staging your home for prospective buyers. We will cover the upfront costs associated with home-selling improvements and re-collect the funds we’ve provided you for the services rendered at the time of the property’s closing. House preparation services include staging, cosmetic updates, painting, deep cleaning, landscaping, and decluttering
How it Works:
Our team will develop a tailored project plan with suggested home improvements and updates to prepare your home for the market. You will contract directly with home improvement service providers.
Compass Concierge will pay the associated cost for home improvement work performed subject to your agreements with home service providers. At the closing of the property, Compass Concierge will collect a fee that covers the cost of the work performed.
Key Eligibility Criteria and Restrictions:
1) The program is available to all sellers with an exclusive Listing Agreement with Compass.
2) Properties that are short-sales or foreclosures are not eligible for the program. Structural or construction services will not be covered.
3) Prospective sellers interested in participating in the Compass Concierge program must review and execute the Compass Concierge Service Agreement outlining the program services.
4) The Compass Concierge Program will provide services for cosmetic and non-structural improvements to the property listing. Under the program, home improvement services such as construction, floor installation, and other non-cosmetic services are not covered.
What prerequisites are required for contractors to be eligible under the program?
Contractors must meet all applicable state and local license, permit and insurance requirements. Contractors must be able to provide a W9 at the time of invoicing along with appropriate payment instructions. Additionally, contractors must meet certain insurance requirements identified in the Compass Concierge Services Agreement and complete some additional paperwork. Compass reserves the right to decline program access to certain contractors in its sole discretion.
Payment for Services:
Invoices should be sent to your Compass Agent for payment by Compass. When your property closes during the term of the Listing Agreement, Compass Concierge will issue an invoice reflecting the total cost of services rendered.
Payment for the program services will be collected using your preferred payment method at the earlier of (a) the actual closing of the property or (b) the one-year anniversary of your participation in the program.
In the event that your property does not sell or the Listing Agreement is terminated for any or no reason (including the property going off the market), Compass Concierge will collect any actual costs incurred by the home improvement work performed (within 15 days).
This is an amazing opportunity for any home seller who either isn’t interested in tieing up their own funds to prepare their home or doesn’t have the time or bandwidth to round up the required vendors to make their home shine prior to listing it for sales. Are you interested? Contact me today for more information.