Ask any member of the team here at Ian Reid’s Vendor Advocates about the most common topics we are asked about, and the chances are that property presentation will be among their Top 3. And whilst we regularly organise consultations with professional property stylists to work with our vendors to help them get their presentation absolutely spot on, it’s an area that we often offer our own opinions on as well.
What is important about this topic is the fact that many vendors assume that getting their property presentation right will involve major changes. Yet it is often the little things that make a bid difference. So, I wanted to share a story with you as it provides a timely reminder of the value of a fresh pair of eyes and a fresh approach.
A property presentation story
Some time ago, we received a call from an associate who works in a retirement village and who had called us before to assist with one of their clients who needed to sell. They told us about an elderly widow who had been waiting to move into the village for several months, but was having a great deal of trouble selling her own home. In fact, her home had been on the market for four months without a single offer. Not surprisingly, this lady was becoming increasingly distressed and needed some help.
When we looked at the property, we found a home that was “well presented” in the traditional sense – it was neat and clean and had no obvious structural faults. Yet, it was clear to us that the way it was being presented was its major downfall. Confused? Let me explain.
The issue was that the property had been altered to accommodate a wheelchair. This had resulted in the wall between the bathroom and the hallway being removed for easier access…Ideal for someone in a wheelchair, but a factor that was clearly putting off members of the wider public who were visiting the home as buyers.
The amazing thing is that with three simple changes we completely changed the vendor’s situation. Firstly we changed agents. After all, they had failed to address this concern in over 4 months. Secondly, we took a fresh look at how the property was marketed and changed from a single figure asking price to a price range to broaden the market appeal a little. Thirdly, we arranged for tradespeople to replace the wall…at a cost of around $700. Yes, that’s right, that’s all it cost!
Property presentation matters
The end result was that the vendor received two offers from buyers within a week of making the changes, one of which ended up being negotiated to a level above what she had been asking. More importantly, she is now living happily in the retirement village. It was a timely reminder of the importance of an objective eye when looking at a property to assess how buyers will respond.
So if you are considering selling, remember that our experienced team is always happy to assist you in the marketing mix right…preferably from day one.
Don’t forget, if you’re thinking about improving your property in preparation for a sale, and you’re interested in getting more helpful tips on maximising your sale, you can download our free booklet, “Fatal Real Estate Traps Exposed” while you’re here on the website.