Tag Archives: property presentation

property makeover
Property Makeover

Property Makeover How Do We Proceed If Home In Development Area?

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As a Property Makeover Specialist I have a series of the same questions that are often asked during the initial consultation process.

I regularly guest speak at property presentation seminars and was presenting very recently, when those same questions appeared. I will share them with you over the next few months, starting with this first and very common dilemma:

‘All of the houses in my street have been either knocked down or fully developed. It’s unlikely that a family will buy, however I don’t have a crystal ball, so should I waste time and money making changes, even though my home may be bulldozed and developed?’

In answer I say; yes absolutely, a property makeover is essential, but with caution. In this scenario, it is likely that there will (without seeing the home or discussing with the local agent) be two types of buyer categories, the owner/occupier and the investor/developer.

For example, the owner/occupier wants to buy one of the remaining cottages in the area and then renovate to make their home work for their family dynamic. In this case they will either want to move in immediately or rent out the property until their planning permission is through for renovations.

Property Presentation
Property Makeover

The Three Types Of Property Makeover Explained

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A real estate agent, who happens to be a friend of mine, asked me recently:

Are there differences to the kind of work you do when it comes to the kinds of property owners?

I thought that that question made sense because most property makeovers have different goals.

Having worked with over 400 makeover projects your Property Makeover Specialist will actually manage projects that fall under these types:

  • Property Makeover to Sell

  • Property Makeover to Rent

  • Property Makeover to Stay (when they have recently bought)

Each type requires a very different approach. It involves a formula of fixed and variable components giving a tailored result, with the right blend of needs, wants and requirements to ensure the best outcome. So to explain the differences, I’ll use the framework I’m following for my business.

Property Makeover to Sell
This is the most common type of a property makeover project. All of which are aimed at showing off the property’s best points and minimising the distractions or negatives.  The goals of this type are as follows:

  • To maximise the market value of a property before it hits the market

  • To optimise the market appeal of a property before it hits the market

  • To enhance the ‘sellability’ of a property when it’s on the market

Also referred to as a ‘pre-sale property makeover,’ the critical element that defines a success makeover of this type is value. This means that changes undertaken for projects under this type are cosmetic in nature without major changes to the carcass of the property.

Prepare their property for market
Property Market, Property Styling

Helping Vendors Prepare Their Property For Market

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How can you help your vendors work out what to spend to prepare their property for market?

As an agent you have to wear many hats when working with vendors and walking them through the process of listing and selling their property.

Here are some tips to help them to work out the best approach and budget for that. Before we talk about a magic figure, think about suggesting that they split it into three sections:

  • Money for the maintenance jobs they should have spent money on every year – ‘catch up money’.
  • Money for items they can re-fresh, upgrade and take with them – ‘take with you money’.
  • Everything else should be for the items required purely for presentation – ‘pre-sale presentation costs’.
As home owners, we always have a list in the back of our minds of ‘things I should have done around my house’. I believe that any owner we stop to ask could recite that list instantly! Homes absorb money every month of every year and if your vendors haven’t kept up with regular maintenance there will be a requirement to budget for catch up money.
 
This would normally go towards things like painting, general home repairs, replacement of cracked windows and the like. At BG Property Styling our owners can spend anything from nothing towards painting and just some man hours of maintenance, to hundreds of thousands of dollars – as an agent you will be well versed on what is required for the state the home is currently in and can help educate your clients towards fixing things up.
 
There are certain items we would always recommend that vendors buy and take with them. There are things that can be purchased with a professional’s help, which may save hire costs and look fantastic in their next home. 
Property makeover One Agency Belinda Grundy
Property Styling, Real Estate Brand

Property Makeover – The Challenges for an Agent and Vendor

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A well presented home helps an agent to sell a home more efficiently and more profitably.

That is undeniable. But behind every property makeover lies a tried-and-tested framework that will lead towards a more successful sale.

This framework is every Property Makeover Specialist’s mix of knowledge, methods, and principles, and is responsible for establishing a successful relationship between the Real Estate Agent, the Vendor, and the Property Makeover Specialist.

So what are the challenges that face both vendors and agents in successful property presentation?

Without prior experience of a property makeover, vendors may be confronted with a dilemma: they don’t know how and where to start. As an agent, you may not always know what to say, especially as you might not have secured the listing and don’t want to put vendors offside.  If you’re lucky, the vendor may know how a property makeover can help in terms of generating a profitable sale; they just don’t know the steps to take.

If they don’t see any value in a property makeover, this is where you can offer a quick reality check by showing examples of recent sales and how they were presented to help the vendor understand that their property is not in a competitive position to yield the desired sales results. However with some professional help from a Property Makeover Specialist, you can help your vendor to achieve a faster and more profitable sale.