Want the best price for your home? The Compass Concierge interest free renovation loan program provides you with the funds to put your best foot forward

Angela Johnson
Jan 9
3 min read

Updated: Jan 9

A man is bending over rolling out beige carpet over a hardwood floor

The market has changed, and buyers have more power than they've had in the past few years. What we're seeing though is that the houses that are move-in ready and fairly priced still garner a lot of competition! With interest rates and prices both much higher than even 5 years ago buyers who are paying large monthly mortgages are looking for a sound investment, and don't want to inherit headaches or a long to-do list. What does that mean? Properties should be as "move in ready" as possible to attract serious buyers with serious budgets. Enter the Compass Concierge interest free renovation loan program!

Some of the things we hear complained about most often are:

Worn out flooring/carpet
Outdated paint colors
Outdated light fixtures/fans and cabinet hardware
Outdated front door, it's the first impression of the home, and EVERYONE notices it!
Outdated kitchens and bathrooms. Sometimes a combination of wall paint, cabinet paint, new flooring, new faucets, new mirrors or new light fixtures can be enough to update the space, it doesn't necessarily need to be a gut job!
Cluttered spaces that they can't picture themselves in. Home staging can save the day here!

Many of these items are relatively easy and quick to fix, but sometimes the money just isn't available. This is where the Compass Concierge program comes in.

How the The Compass Concierge interest free renovation loan program works:

Work with your agent to decide which services can increase your home’s value the most and set an estimated budget for the work.
When you’re ready to start, your Compass agent will be by your side as you engage contractors and vendors.
Once the transformation is complete, your home will go on the market.
You’ll pay for the services and any applicable fees* when one of the following happens – your home sells, you terminate your listing agreement with Compass, or 12 months pass from your Concierge start date. Subject to program terms that may vary by market.

A sun filled kitchen with large windows on the left, a door in the center, wood cabinets and light colored countertops

What it Costs

If your property’s list price is $4M or less, and you’re applying for $40K or less (“Flat Fee Line of Credit”):

Pay a single $750 flat fee at closing, no interest for 12 months, loan to be paid in full at close of escrow.

If your property’s list price is greater than $4M (up to $6M), or you’re applying for more than $40K (up to $75K) (“Interest Rate Line of Credit”):

Pay a 2.99% Origination Fee, assessed on funds drawn, and
Pay a 9.99% Annual Interest Rate, assessed on funds drawn, for the duration they are drawn

Examples of Compass Concierge Covered Services

Floor repairing
Carpet cleaning and replacement
Staging
Deep-cleaning
Decluttering
Cosmetic renovations
Landscaping
Interior + exterior painting
HVAC
Roofing repair
Moving + storage (decluttering)
Pest control
Custom closet work
Fencing
Electrical work
Seller-side inspections + evaluations
Kitchen improvements
Bathroom improvements
Pool + tennis court services
Water heating + plumbing repair
Sewer lateral inspections + remediation

147%

The cost recovery from

refinishing hardwood floors

$400

The potential return of every $100

you invest in staging your home

48%

The percentage of sellers' agents who say

staging decreases a property's time on market

"The thing that was the most daunting for me about selling the home was how would I get it to market, based on being retired and have limited income. And that's where the Compass Concierge service was absolutely remarkable."