When it comes to selling your property, there are often quite a few costs that you will run into during the process. These costs include marketing campaigns, conveyancing, auction fees and concierge services. One important step however, which is commonly overlooked is styling and property preparation.
So why is styling and property preparation is so important when going about selling your home.? Small investments into property preparation can maximise your sale price. You may love your furniture, but the goal is for universal appeal. The more buyer’s who like the look and feel of your home, the more successful your sale will be on auction day
A recent survey of the top real estate agents in Australia revealed that styling your home could boost the final sale price by between 7.5% and 12.5%. In the same survey, 87% of agents said you would earn a higher price by property styling, while 48% thought styling would lead to an increase in offers.
With the countries leading real estate agents backing the idea of styling, an expert opinion is always reassuring in matters as serious as property, so SaleFunder spoke to Joanne Johnson, director of Joanne Johnson Design Pty Ltd and previous owner and director of Cosmetic Home Renovations.
With more than 12 years of styling experience under her belt, we wanted to hear what she had to say in regard to just why styling and property prep is an essential step to selling your home.
What do you believe is the importance of styling a house before selling?
Joanne: Property preparation is critical, and definitely benefits the sale in a number of ways. Firstly, it helps a property to stand out and be shortlisted when prospective buyers look online or via other marketing materials. It also engages buyers at open home inspections, and tells the story of how the home can be lived in.
By defining the key living spaces through the help of styling, buyers are able to determine how their family or potential tenants might best live within the space. Styling your home is also an opportunity to add further value by showcasing areas such as study nooks or outdoor living rooms which might otherwise be overlooked in an empty property.
How does a styled house benefit the vendor?
Joanne: There are many key benefits of a styled property. A styled property will attract more buyers from the outset and help the property to stand out from others on the market. It also helps to reduce the focus on ‘less desirable’ attributes of the property, whilst enhancing its better qualities, which is always important.
By encouraging more buyers to a property, it creates a momentum which is particularly important in an auction environment to entice competitive bidding. In summary it helps to draw the crowd, increase the perception of value, reduce objections, and help command a greater sales price is less time.
What problems can the vendor run into if they avoid styling before selling?
Joanne: Effectively, a non-styled property runs the risk of attracting fewer people to inspect and can potentially lengthen the sales process. It gives prospective buyers a reason to negotiate down on the price as the perceived value is less.
If a property is full of the vendors personal possessions, it becomes more difficult for a would-be buyer to envisage themselves living there. A cluttered property can also give a misperception of space and buyers may falsely assume there are storage and other spatial issues. These issues can easily be avoided with the help of stylists that can prepare a property and maximise the utilisation of space.
And Finally, while we have you what is the key to a perfectly styled house?
Joanne: Knowing where to direct your valued marketing dollars to receive the best return on investment is key. Engaging a pre-sales professional to help identify the aspects of the property in need of assistance is one of the most important things a vendor can do.
Decluttering, furniture removal, painting, lighting, garden fixes, kitchen and bathroom fixtures and fittings, floor and window coverings and privacy screening are just some of the ways a pre-sales professional can make your home look perfect before sale.
One of the key things proper furniture placement can do for your home is to control the flow of traffic eg: placing furniture in a way that encourages buyers to a balcony which features water views. It is also important that all personal affects are removed from the home, and that the home is clean and fresh for open house inspections.
A perfectly styled house also features strategically placed mirrors and lights that can enhance the rooms of the house and brighten it, making every space feel more spacious and homely.
While a lot of these tasks can be completed on your own, it is best to hire professionals and work with your realestate agent who know the process and can provide results. If you need help funding these pre-sale tasks contact us today