Under Contract in Four Days: Why Real Estate Merchandising Gets Buyers Attention!

By
Real Estate Agent with HI Pro Realty LLC RB-21531 RS-76763

Never underestimate the power of Real Estate Merchandising to grab buyers attention. This property had originally been on the market for several months; went under contract but after the inspection the buyers decided to withdraw the offer. Not a particularly unusual story in the current market as many buyers if faced with a choice, will pick move in ready properties over those with big To-Do lists.

Blog Entry: Before and After Condo Makeover in Waikiki Hawaii!

Condo Before Real Estate Merchandising

The challenge in this particular situation was getting the Real Estate agents in the area to revisit the property after it had sat on the market for months and on top of that, had a buyer withdraw an offer. Since the seller didn't want to lower the price it came down to the properties Marketing and Merchandising. As Real Estate Merchandisers we pay close attention to the general condition of the property and suggest improvements that first address any inspection issues that might compromise the sale and then address the many details that catch the buyers eye. Wall color, flooring, fixtures, and staging are the primary focus of Real Estate Merchandisers at JDS Consulting. Selecting cost appropriate and effective improvements is very important in Merchandising a property for sale so as to maximize the greatest return on the improvements made.

Condo After Real Estate Merchandising

Over-developing a property can cost sellers big bucks that most often are never recouped in the sale. Adding high end fixtures to mid range properties sounds like it might attract more buyers to make offers but most often it has the opposite effect. High-end design and fixtures often means a comparatively high price tag for the property; Sellers typically don't want to reduce the price of their recently remodeled properties and cost conscious buyers often don't see the rational of paying tens of thousands of dollars more for a property that has granite counter tops and exotic hard wood cabinetry when they can get a more reasonably priced property with middle of the road updates they can live with. Buyers always have the option of making improvements over time and to their personal taste but the key words are MOVE IN READY.

Condo After Real Estate Merchandising

In order to keep the remodel as cost effective as possible, we chose new laminate counter tops, flooring and durable but comparatively inexpensive Berber carpeting. We refurbished all the existing furniture and kept our staging costs to a minimum. We avoided budget busting details such as stainless steel appliances, and granite and maximized the budget by improving the entire appearance of the unit, not just the kitchen and bathrooms, by adding new flooring and carpeting throughout.  We also utilized the strategic use of colored accent walls and coordinated accessories.

Four days after the first open house since it's remodel, the  two bedroom two bath unit went under contract. The offer came from a buyer who was intent on purchasing another unit in the building but changed her mind after seeing the newly updated unit. Her reasoning, "I can just move in, I don't need to do anything to it!"

Under Contract in Four Days: Why Real Estate Merchandising Gets Buyers Attention!

JDS Consulting- Staging Hawaii nei! Providing Real Estate Merchandising services including: Home Staging, Interior Decor, Turn Key, Landscaping, Remodeling, & Open House Hosting. Visit our Blog: Questions for Kimo: Decor Design & all things Hawaiian- www.RealEstateDesignOnLine.com  tel.+1.808.344.1264  Kimo Stowell Copyright ©2009

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   HI Pro Realty - PET FRIENDLY HONOLULU REALTOR, PROPERTY MANAGEMENT

  

HI Pro Realty LLC - REALTORS®, PROPERTY MANAGERS® is a boutique brokerage firm offering responsive, dedicated, and professional Real Estate Sales and Management Services in Honolulu, Hawai'i. 

 

    Office: (808) 941-8866    Mobile: (808) 926-7667

 

 

 

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Monique Combs 07/02/2009 04:35 AM
Topic:
Home Selling
Groups:
Stage It Forward...
Fixers, Flips, and Rehabs
Staging "Before" & "After" Pictures
Vacation and Second homes
Hawaii Real Estate Professionals
Tags:
waikiki
real estate merchandising
hawaiian home staging
jds consulting

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Rainer
2,880
Susan Grady
Inspiration Home Staging - San Marcos, CA

It looks lovely!  You did a great job.  I would have liked to have seen more photos, too.  Plain old eye candy for me.  Thank you for sharing.

Jun 22, 2009 11:47 AM #2
Rainmaker
767,476
Kimo Stowell
HI Pro Realty LLC RB-21531 - Honolulu, HI
REALTOR Associate® RS-76763 - Honolulu Hawai'i

Aloha Brian, thanks for commenting. I'm not sure if staging alone IS marketing; merchandising definately. Real Estate Marketing to me is putting a product in front of the consumer through ads, MLS photos, open houses, etc. Staging by itself wont' bring clients to the front door, you have to market the staging first through ads, MLS Photos, open houses, I guess thats why I don't see staging alone as marketing.

Aloha Susan, welcome to AR. Thanks for wanting to see more. Embeded in the post above is a link to a previous post that shows the before and after photos from the property in question. Here's the link again-Blog Entry: Before and After Condo Makeover in Waikiki Hawaii!! Best wishes!

Jun 22, 2009 01:27 PM #3
Rainmaker
820,833
Maureen Bray Portland OR Home Stager ~ Room Solutions Staging
Room Solutions Staging, Portland OR - Portland, OR
"Staging that Sells Portland Homes"

Aloha Kimo ~ This is an excellent example of updating an investment property to just the right extent.  Materials are fresh and new and the color scheme will appeal to a broad range of buyers.  Nice job!

Jun 22, 2009 01:32 PM #4
Rainer
58,491
Chrissie Sutherland
Ready Set Stage - Greensboro, NC

It's amazing how just adding some paint and updating the furniture make the place look brand new.  Beautiful job Kimo!!!  Congratulations.

Jun 22, 2009 01:51 PM #5
Rainmaker
187,202
Donna Schoby
Liberty Bank of Arkansas - Bentonville, AR

Congrats Kimo! The very first thing I noticed was the paint. It really warmed up that living space. Great job! Great post!

Jun 22, 2009 02:19 PM #6
Rainmaker
271,023
Cathy Lee
CL Design Services Home Staging - Danville, CA
ASP, IAHSP, RESA Danville, CA

Fabulous work Kimo-there are those chairs again.  I love them!!!!  Love your story and thanks or sharing your success.

Jun 22, 2009 04:31 PM #7
Rainer
2,880
Susan Grady
Inspiration Home Staging - San Marcos, CA

Thank you for the link, Kimo.  It's just gorgeous!  :-)

Jun 22, 2009 05:12 PM #8
Rainmaker
489,754
Kathy Nielsen
http://atlantahomestaging.net - Marietta, GA
Atlanta Georgia Home Stager

Kimo - I absolutely love the changes you made with your staging.  I especially like the accent wall.

Congratulations.  Your post is being featured in the group; Staging Before and After Pictures.

Kathy

Jun 23, 2009 02:51 AM #9
Rainmaker
227,102
Michelle Finnamore
Toronto GTA, Alliston, Newmarket - Vaughan, ON
Preparing your property for sale

Aloha Kimo, I love what you did to merchandise the property. Now it is a product for sale, a very key point. As you said, you have to add things that are price point appropriate and what buyers are willing to pay for in a given area. Great post and one that should be required reading.

Jun 23, 2009 05:59 AM #10
Rainmaker
155,339
Connie Tebyani
Platinum Home Staging, Inc. : RESA-Pro - Calabasas, CA
Platinum Home Staging, Los Angeles and Ventura County

You made some very important points, one of which: "Over-developing a property can cost sellers big bucks that most often are never recouped in the sale"  I have worked with MANY clients who WANT to spend huge $$$ on what they "think" is important to buyers ~ Our job is to point them in the right direction so they get the biggest bang for their buck.

What a HUGE transformation! Kudos on the wuick sale!

Jun 23, 2009 11:08 AM #11
Rainer
10,740
Wendy Casey
A-List Home Staging & Decor - Surrey, BC

Very creative work, Kimo. It's always a challenge on a limited budget, but yours is a great example.

Jun 23, 2009 06:14 PM #12
Rainmaker
767,476
Kimo Stowell
HI Pro Realty LLC RB-21531 - Honolulu, HI
REALTOR Associate® RS-76763 - Honolulu Hawai'i

Aloha Maureen, investors look at properties differently than home buyers, regardless you have to appeal to both. thank you for visiting.

Aloha Chrissie, don't forget the new flooring, as well. New paint & flooring combine to make the old and boring look virtually brand new! Thanks for stopping by.

Aloha Donna, a little color can really help transform a space. Mahalo!

Aloha Kathy, Mahalo for the feature! I love using accent walls and if buyers want to change it it doesn't take much to do so.

Aloha Michelle, getting financing for a home is not easy and a 10k price difference from one unit to the next in any particular building can push some buyers out of the running.

Aloha Connie, mahalo nui loa! It's funny what consumers think some times. I had one prospect who didn't want to spend a dime on furniture just flat screen tv's in the living room and the bedrooms. Ok are you selling a BestBuy show room or a home?

Aloha Wendy, thanks for visiting. Small budgets can be a lot easier than larger budgets in many cases, mainly because your choices are limited.

Jun 24, 2009 07:44 AM #13
Rainmaker
639,475
Cindy Bryant
Redesign Etc. Home Staging - Houston, TX
"Houston Home Staging Pros"

You certainly gave it that inviting touch, it was really lacking that!  It screamed sterile, and boring.

Jun 24, 2009 12:10 PM #14
Rainer
29,371
Kate Jahnson
Home Stage Home - West Linn, OR
Home Stager

What a beautiful Transformation Kimo.  I love that accent wall color - very soothing. Thanks so much for sharing your pictures.

Mahalo

Jun 25, 2009 03:14 PM #15
Rainmaker
767,476
Kimo Stowell
HI Pro Realty LLC RB-21531 - Honolulu, HI
REALTOR Associate® RS-76763 - Honolulu Hawai'i

Aloha Cindy, thanks it was defiantely lacking personality as investment properties often do.

Aloha Kate, e komo mai, welcome to Active Rain, thanks for visiting and I wish you much success!

Jun 25, 2009 03:37 PM #16
Rainer
321,367
Russel Ray, San Diego Business & Marketing Consultant & Photographer
Russel Ray - San Diego State University, CA

I don't know, Kimo. I really miss the crooked lamp shade in the first picture -- LOL.

Jun 27, 2009 03:26 AM #17
Rainmaker
143,597
Michelle Pimentel
Empire Home Staging Solutions - Upland, CA
ASP, IAHSP Empire Home Staging

Kimo,

Congratulations on another fine staging transformation!  It's no wonder the buyers wanted to put this one into escrow right away...I just hope you gained additional business from the other agents who may have revisited the property to see what a fabulous job YOU did! 

Jun 27, 2009 06:53 PM #18
Rainmaker
767,476
Kimo Stowell
HI Pro Realty LLC RB-21531 - Honolulu, HI
REALTOR Associate® RS-76763 - Honolulu Hawai'i

Aloha Russel, thanks for visiting!

Aloha Michelle, the Realtor who used my services doesn't believe in staging, still doesn't. I had to call it furniture arrangement on the invoice. She did concede, however, that the place sold because of the merchandising. Mahalo for commenting.

 

Jun 30, 2009 02:38 PM #19
Rainmaker
314,200
Monique Combs
Royal Shell Real Estate - Bonita Springs, FL
Royal Shell Real Estate - Monique Combs

Wow Kimo,

Huge transformation! doesn't  look like the same home...

Jul 02, 2009 04:33 AM #20
Rainmaker
767,476
Kimo Stowell
HI Pro Realty LLC RB-21531 - Honolulu, HI
REALTOR Associate® RS-76763 - Honolulu Hawai'i

Aloha Monique, Mahalo for commenting! Aloha nui!

Jul 09, 2009 09:27 AM #21
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REALTOR Associate® RS-76763 - Honolulu Hawai'i
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