There are two ways to increase your homs sale price – (1) improve the property and/or (2) increase competition amongst buyer by increasing the number of interested parties. Home staging plays a key role in both strategies. See how to sell your home for more.
Home staging is often regarded as one of the few tools Melbourne home sellers have at their disposal to increase the sale price of their property.
Fundamentally, there are only two ways to increase the value of your property during a house auction campaign, being:
1. Prospective buyers attach greater value to the property’s worth due to its appeal or some kind of feature – in other words home staging
2. Larger numbers of people attend opens and the auction. That is, greater buyer demand
So let’s look at each of these in turn and consider how, as a home seller, you might achieve them.
Home Staging to Increase Appeal
How do you make a property more appealing?
Start by thinking about what Melbourne buyer markets are likely to be drawn to your property. Often a good way to do this is to think of your own demographic profile when you purchased the property. Note, 90% of the time the purchaser of a property is demographically similar to the home seller when they originally purchased it.
Once you’ve done that make sure your home staging plan is directed at satisfying that market. For example, you should stage your home with furniture that reflects the tastes and styles of the market you’re appealing to.
The more you can tailor the Home Staging to fit a specific buyer group within the Melbourne home buyer market, the higher your sales price will be.
Stimulate Buyer Demand with Home staging
To stimulate buyer demand, you need to attract larger numbers of prospective buyers from a broader geographic and demographic base. So how do you do that?
Put simply, you need to spend more on marketing and presentation.
That is, a bigger campaign, reaching more people that’s designed to drum up interest in your property. Be it through database marketing, press ads, online promotion, and letter dropping the neighborhood – whatever steps you might take. Perhaps even promote the property to broader Melbourne suburbs.
Once you’ve cast your broader net, you then net to ensure the property you’re putting to market ticks buyers boxes.
Ensure the property you present to market is accessible and has broad appeal. That is, the home is staged using neutral colors, popular furniture, tidy gardens and a spick and span look.
Avoid styles or colors that are idiosyncratic or out of vogue. Remember the idea is to be as inclusive and as accessible as possible – better numbers at auction, mean better home sales results.
Guest post by R Armstrong. About the Author:
Richard Armstrong is the Director of Melbourne Home Staging business The Makeover Group. He possesses over a decade of Home Staging experience and post graduate property qualifications. He is a contributing writer to Melbourneâ€™s (Australia) leading property publications and websites and has helped hundreds of clients add millions of dollars (collectively) to their sales price.