The following article was originally posted on andersonscliving.com on July 26, 2021 at https://andersonscliving.com/business/coldwell-banker-exclusive-home-renovation-program-helps-revitalize-communities/
When Trent Smith and his partners assumed ownership of Coldwell Banker Exclusive Realty & Management, their goal was to find ways to give back to the community.
A year and a half later, the Anderson-based real estate company is perfecting a new program that is helping to revitalize communities throughout the area. And it has been so successful that the corporate office of Coldwell Banker plans to roll out the program to its affiliate firms nationwide in 2022.
The community redevelopment program is designed for those who own homes that need extensive renovation but do not have funds readily available to make those repairs. If there is enough equity in a home to cover renovation costs, Coldwell Banker Exclusive Realty & Management will provide the funds, perform the work necessary to get the home market ready, then place it on the market and sell it for the owner.
“If you need $10,000 worth of renovations and you’ve got $40,000 or $50,000 of equity on an after-repair basis, then obviously those numbers work and we would be happy to engage in that deal,” Smith said.
Renovation costs for one home now being remodeled by Coldwell Banker Exclusive will total around $50,000.
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“There was enough equity in the home for it to be worth our time and to protect our investment,” Smith said. “We’ll be able to sell the home, the homeowners will be able to make some money and everybody comes out a winner.”
Smith said the company will work with any size home in any area where the company does business, which includes Anderson County and other parts of the Upstate.
And in the Upstate’s red-hot real estate market where the number of available homes is low and demand is high, Coldwell Banker Exclusive’s program is one way to increase its residential properties for sale.
“We stand on our commitment to the community,” Smith said. “We’re not just here to sell your house and move on, we’re here to help the entire Anderson community and to help revitalize areas that need it.”
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