Show me the money
Sydney Morning Herald
Saturday January 9, 2010
A stylist can make your home look amazing, but does that translate to a higher sale price? If you put selling your home at the top of your New Year's resolution list, then now is the time to get serious about its primping and preening. Naturally, you'll want your property to look its eye-catching best to buyers and while some owners can manage this themselves, many without the time or inclination are calling in the stylists to help.To present your house or apartment can be as simple as giving it a spring clean and getting rid of the clutter, tackling repairs you've put off for years or investing in new furnishings.Owners who want their properties revamped professionally have two choices. They can find their own stylists (search for "property staging" online and look at the before-and-after shots) or they can shop around for a real estate agency that specialises in presentation and uses anin-house or regular stylist.The director of Belle Property Annandale, Rob Clarke, is a big fan of styling and says that after deciding on an agent, owners should allow at least six weeks to carry out any suggested improvements before the house will be deemed ready for its photo shoot and auction campaign.In vogueProperty presentation is hardly a new phenomenon but it is becoming increasingly popular. The chief executive of McGrath Estate Agents, John McGrath, says styling is now a regular routine."There are 10 times the number of stylists around compared with five years ago," McGrath says, adding that between 10 per cent and 20 per cent of McGrath properties a month receive a stylist's input.Costs vary greatly depending on a property's size and location. McGrath says vendors might have to spend anything between $500-$1000 and $5000-$10,000."Vendors can be surprised at possibly investing $5000 to $10,000 in styling or furnishing for sale presentation but they now understand the importance of delivering a great impression to buyers," he says. "And when they achieve an outstanding result, the initial investment is more than justified."Clarke says sellers can be "pretty confident" that if they spend $10,000 on improvements they will get at least $20,000 back on the sale price, if not more. To fully furnish and style a three-bedroom semi - from sofas to hand towels - could cost about $3000, he says. Smaller properties might cost $1500 to $2500-$2700. A director of Di Jones Real Estate, Gary Sands, agrees more people are now aware of styling. "People didn't believe in the power of it before," he says."The times we haven't recommended it, we've been sorry. [With a] very large room, people will still only see one space unless it is styled for two." He recommends a preferred stylist to vendors and says costs can range from $3000 to $10,000, depending on what needs to be done.Sands says it's crucial to use an eclectic range of hired furnishings - sometimes mixing them with the owners' possessions - to create "something people can relate to". "But it needs to be quality," he says. If you decide to hire a property presenter yourself, costs will also vary.For example, property stylist Joanne Johnson, who runs Home Dressing and consults for Belle, says a six-week property staging - including all furniture and furnishings, transport costs, contents insurance etc - might start from $1800 plus GST for a two-bedroom apartment to $3350 plus GST for a four- to five-bedroom house. Johnson also has a mix-and-match service that involves using the clients' furniture and adding soft furnishings. Some furniture additions can be costed room by room.DIY stylingFor owners wanting to go it alone, Johnson has this advice: "There is a temptation to be a bit close to it [the home] and want to put a personal stamp on it. You need to be able to have that real estate nuance."One way to get a feel for DIY staging is to visit styled properties during open-for-inspection times. Or a simple trawl through real estate ads can give an idea of how much de-cluttering and furniture rearranging might be necessary.Clarke says when organising the presentation of a property, he considers its target market."If it is a semi in the $500,000 to $600,000 range, it's going to attract young couples and it needs to be presented in a way that appeals to twenty- and thirtysomethings," he says. "Clean lines, loads of space, bright colours and so on. It's not a case of us disliking our vendors' furnishings, it's about styling their properties in a way that will help us maximise their sale price."He believes great presentation also means properties stand out in online and newspaper advertising. "We go out of our way to make sure buyers are wowed by our properties," he says. "On a Saturday, buyers often have to choose between properties to inspect as many are open at the same time. Great presentation ensures our properties make their short-lists."Sometimes, though, styling can backfire on an agent. A couple in Edgecliff approached Sands to sell their home, which they loved but weren't happy with the layout - the living area was on a different floor from the kitchen-dining space. They tried everything to rectify this, to no avail. While getting it ready for auction, Sands changed dining tables and added a sitting area. He hadn't even started the first open inspection when they rang to say they now loved it so much they wanted to take it off the market."I call it selling it to the owner," Sands says.DASH OF LIPPY BRINGS OUT BEAUTY BENEATHAfter Bill and Bronwyn Austen sold their three-bedroom Petersham semi for $750,000 last year €” a stunning $140,000 more than the reserve €” they popped a bottle of bubbly with the new owners."They saw past the lipstick to a sturdy house," Bill says. By lipstick, he means the improvements and styling of their Andreas Street investment property €” bought for $168,500 in 1991 €” that were recommended by selling agents Simone Azzi and Rob Clarke of Belle Property Annandale.The agents initially valued the house at about $550,000 and said improvements should include repainting the front and back of the house, ripping up the carpets and polishing the floorboards, landscaping the back garden and, finally, styling with hired furniture. They organised quotes for the work and offered to project-manage it for free but retirees Bronwyn and Bill were keen to handle it."We didn't skimp," Bill says, "and I did a lot of work myself." He says the house was well built "with good bones" but did need a makeover. They spent about $16,000 on improvements during the 10 to 12 weeks, with Bill saving them $4000 in labour costs.With the makeover complete, the house was reappraised in the "late $500,000s to early $600,000s" but sold for $750,000 at auction.TOP 10 PROPERTY STYLING TIPS1. The property must be scrupulously clean inside and out. Invest in a professional cleaner for a few hours.2. Every room needs to be de-cluttered. Unessential items can go to the neighbours, in suitcases, the car or into short-term storage.3. Create traffic flow around rooms. Hundreds of buyers may view the property and you don't want them bumping into badly placed sofas.4. Create atmosphere with accessories; for example, matching lamps in the bedrooms.5. Maximise space: replace the single bed in a child's room with a double if it will fit. Furnish every room.6. Think about security. Store your valuables and remember that people will look in every drawer and cupboard.7. Showcase outdoor areas in summer.8. Get rid of that fuchsia or bright-blue wall and anything else that shrieks.9. Send the pets on a holiday.10. Checklists and time frames are critical for getting a property on the market.Source: Joanne Johnson of Home Dressing
© 2010 Sydney Morning Herald
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