How people are loosing 10-20% on their home sale….
STYLE THAT SELLS
Not styling a property for sale is one of the biggest mistakes I see home sellers make. I know it seems overwhelming to pack up your life and the cost of styling can be a little daunting. This being said, you are going to have to pack your life up anyway so why not do it in a calm state while you have time to sort through the last 20 years rather than doing it frantically during a 6-week settlement and stressing yourself out. As for the styling costs, statistics show the average added value is 11% more on the sale of a styled home, that’s an extra $55,000 on a $500,000 home, so can you afford NOT to style is more the question. The average cost of styling a 4 bedroom home is $3,200. To me, this seems like a no brainer but for those of you that aren’t sold let me dive a little deeper for you.
Show them the vision. Just like the fact that your property is the biggest asset you own, a buyers biggest spend will be on their new home. When looking for their new home buyers are looking to take a step into their future so, unless your selling them the dream and helping them to visualise that step they are going to be hesitant to take it.
According to an article by LJ Hooker, 98% of agents believe that styling your property to sell can help achieve a higher sales price. 88% believed it triggered multiple offers through private treaty and more bidders on auction day.
According to homesteading resource.com, who studied the results of over 4,200 staged homes which makes this the most extensive study of staged homes ever! over 85% of those 4,200+ STAGED homes saw at least 6-25% MORE from the sale of their professionally staged home than the house in the same market that was NOT professionally staged! The most significant percentage of results actually came in at 9-12% increase.
There was a DIRECT correlation between the stagers who charged a bit more and the homes that got the BEST results in price! In other words, you get what you pay for when it comes to “staging investment”.
When sellers spent just .5% of the sales price MORE on the staging services, they saw at least a 6% price difference! In other words, when stagers charged less or stopped short due to the seller’s tight budget, the results were not as good. Those extra, cosmetic updates like paint, new light fixtures or flooring made a HUGE difference in the sales price outcome. As mentioned, this was a majority US study. Still, given the fact that Australia is said to be about 10 years behind the US, it currently means if you are in the game you are ahead of the market trend which can only mean even better results.
I should also note that photography is just as important as styling. Fabulous styling can be ruined by the bad photographer so make sure you have a look at any real estate photos your agent has had done previously and ask them to discount your package and find your own photographer if they are no good, it will be worth it.
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