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!
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.
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.
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
Comments(21)