In today's competitive real estate market, selling a property requires more than just listing it and waiting for buyers to come knocking. Property styling has emerged as a powerful tool for sellers to elevate their listings and attract potential buyers. Recent experiences in the industry have reinforced the significance of considering property presentation before going to market. This article explores the importance of styling a property when selling it, highlighting the positive impact it can have on sales outcomes.
To illustrate the potential of property styling, let's delve into a recent experience wit our Wollongong office. Our residential sales team recently took on a listing that had been languishing on the market for several months under another agency. While the property's location was advantageous, its condition was lackluster, with overgrown grounds and a generally run-down appearance. Recognising the opportunity to enhance the property's appeal, our agents presented a comprehensive plan to the seller, emphasising the benefits of investing in necessary improvements and styling.
The seller agreed to the proposal and invested approximately $34,000 in refreshing the property, including new flooring, a fresh coat of paint, and restoring the neglected grounds. Additionally, they allocated around $4,000 for furniture hire and styling. The impact of these improvements on the property's market value was remarkable.
Prior to the renovations, the seller had received a best offer of $900,000. However, after the property styling and presentation upgrades, the seller began receiving offers in the vicinity of $1.1 million—a substantial increase. This outcome showcases the potential return on investment that can be achieved through strategic property styling.
Experiences like this highlight the importance of engaging true property professionals who prioritise their clients' net position. While sellers may be tempted to choose the cheapest agent available, this approach often overlooks the critical aspects of a comprehensive campaign strategy. A dedicated professional will guide sellers to make informed decisions about investing in marketing campaigns, styling, and overall property presentation, aiming for the best possible net result.
Choosing the cheapest agent without considering their expertise and strategic advice can be a costly mistake for sellers. By forgoing the opportunity to invest in marketing campaigns, property improvements, and styling, sellers risk missing out on maximising their property's value. As the saying goes, "the cheapest agent will be the most expensive." It underscores the importance of working with professionals who prioritise comprehensive strategies that encompass marketing, styling, and presentation.
Styling isn't limited to properties in disrepair. Even when a property is in good condition but vacant, investing in furniture hire and styling can yield substantial returns. The modest investment in furniture and décor can significantly enhance the appeal of an empty space, creating an inviting atmosphere that resonates with potential buyers. This attention to detail and investment in presentation can easily translate into a significant improvement, potentially adding five figures to the final sales result.
As the old cliché suggests… You gotta spend money to make money.