Property investment tip: What makes a good property stylist?

When styling a property, the investor must make sure to put aside his personal preferences in order to make way for a presentation that will suit the needs of their target market.

Edward explained further: “ Some people may be a little bit insulted when we come into a property and we say, ‘Look, we love your furniture but you know what? This isn't going to work but we can use this piece instead.’ ”

“Your personal taste, put that to one side. Property styling is about selling your property for the best price and getting the maximum interest,” he reiterated.

Simplicity is key

While it’s never advisable to present an empty house to potential buyers, it’s also critical that the overall styling leaves room for “open zones”.

Tanya said buyers look for spaciousness, light and freshness.

"I always keep that in mind and I try to keep the rooms feeling open, with good circulation spaces," she says.

“Sometimes, that could mean ‘Take down those old curtains that you've had up for ten years and just put sheers in’ or ‘Go down to Ikea or K-mart and buy a rod and some sheers.’ Just let that light in."

Moreover, these open zones will help groups of potential buyers access all the rooms of the house comfortably, without bumping into any furniture or decorations and consequently let them visualize how they can personally style it when they finally decide to purchase it.

Aside from the property’s location, buyers also tend to consider how they are going to fit into the house. Can they put four beds in it and still feel comfortable? Is it possible to grow an indoor garden? How are they going to arrange the living room and the kitchen without leaving too much clutter out?

Edward said: “Once you've got that lifestyle thing in the potential buyer's head, then that's when you see [that] price is not so important. People will go beyond what they may have originally wanted because they want that lifestyle that you're portraying.”

Ensuring that the house is spacious enough for them to think through the many factors that they want to consider before buying will most likely increase the chances of closing a deal. Tanya and Edward said that styled properties usually take only about four to six weeks before they are sold as opposed to 10 to 12 weeks for "bare" properties.

Understanding the client

A good property stylist will make sure to understand not only the needs of the target market but also the capabilities and limitations of the property investor. Like all property professionals, they should aim to work within the budget and the timeline of their client in order to achieve the best results from styling, photography, all the way to marketing and selling.

Edward said: “We put the right furniture in that meets the target market that we're after and also the client's budget.”

“Logistically, [yes], it's quite challenging. Turning around on short lead times means that we do have to do things quite quickly to ensure that the delivery occurs when the agent requires it and the house is finished so that they can photograph and get it on the market ASAP,” he added.

Understanding the client and the target market means not having to stick with a “signature look” or one style for all properties they handle.

“All the stylists have an understanding that there's a different look for a lot of the different areas that we go into. It's about the individual architecture of the home, as well as who is going to be the buyer? What look do we need to put together for this house to appeal to those buyers?”

The benefit of professional help

Edward says that seeking the help of professional property stylists will benefit a property investor in the long run. He claims that, regardless of the state of different property markets, a styled property always gets more money for the investor—from 5x up to 70x the original price of the asset.

“It is a big spread, and the average is about 20x. We've seen some amazing results. You won't get that unless you put some money into it. It's like selling a car. Would you sell a nice car and not detail it? Of course, you would.

“We had a property only about six weeks ago in Drummoyne. They spent $10,000 on it and they get $700,000 more than their expectation."

Tanya says that real estate agents know it too.

"The reason they recommend it to their clients now is because it actually works. It gets them a higher price for their client and the property sells quicker, so everybody is in a win-win situation.”

Smart Property Investment’s Phil Tarrant, who is an avid investor himself, agrees that employing the help of professionals in one’s property investment journey is always worth its weight in gold.

“Professionals know the market, they know every single street within, they know individual properties sometimes, and they know what makes that particular market tick.

“If you're using a professional to style your property versus someone who doesn't have a feel for design or hasn't got the ability to show that story ... you've got a competitive advantage."

Tune in to Tanya Giuffre, Edward Giuffre, and William Chan’s episode on The Smart Property Investment Show to know more about the secrets to creating a connection between the property and potential buyers as well as the importance of logistics, demographics, and target markets.

Tags:

• Latest

Share