Most property developers know how to choose the right property and renovate or refurbish it to a high standard. However, an awful lot of small developers fall at the last hurdle, which is marketing their properties.
Many small-scale property investors are potentially leaving cash on the table because they are not taking the time to stage their property before marketing it. Staging can add thousands to the value of the property.
If you are one of those developers that still markets their properties empty, read on to find out why it may be worth your while changing this approach.
How effective is staging?
Of course, staging costs money, but you need to look at it as an investment. If you choose the right staging company and home decor style you will easily get your money back plus a nice profit.
A recent survey carried out by the National Association of Realtors (NAR) showed that staging had a big impact on potential buyers. Real estate professionals from across the US told the NAR that staged homes typically sell for between 11 and 15% more than average.
Show your property in the best light
The fact that most buyers do not really see the potential of a poorly decorated or empty space is behind this startling statistic. Most ordinary people simply cannot visualise how beautiful and welcoming a room can look when it is furnished and decorated in the right way.
When they look at an empty room, it always seems smaller than it is and looks cold and unwelcoming. The opposite is true when they look at a nicely decorated and furnished room. Potential buyers can immediately see how nice it is and picture themselves living there.
Staging can also help with cash flow
For many small-scale property developers cash flow is their biggest headache. They frequently miss good investment opportunities because they have money tied up in finished properties that they cannot sell. Staged homes typically sell far faster, so staging can help you to improve your cash flow.
The easiest way to stage a property
The great thing about staging is that is easy and need not be expensive. If you have a property you want to stage it can be as simple as picking up the phone or going online to hire someone like Emblem Furniture.
They will deliver all of the furniture, soft furnishings and homeware you need to make your property look great. Buyers will walk into a property that is finished to a high standard and be able to imagine themselves living there.
Offer potential buyers something extra
Many staging firms also offer the option for you to buy the package they use to stage your property. Now you are not likely to want to do this because you will have to store everything between properties. A headache you do not want, but it does open up the chance for you to offer an extra service to buyers and make even more profit.
If you want to you can offer buyers the chance to buy the property fully furnished. Many busy buyers will appreciate this offer. You can charge a little extra and make more profit.
As you can see staging properties makes a lot of sense. If you are not already doing it, why not try it when it is time to market your next property.