01 April 2017 - The Property Investor Magazine
TPIMag.com - List Maker - Rental Insight
As property investors, we all share a concern that our property will not be looked after and cared for by our tenants.
The potential devaluation of our investment, difficulty in securing an ongoing income stream, and associated unplanned expense associated with rectifying damage and completing repairs, is what strike fear into the heart of even the most seasoned property investor.
So, what can be done to mitigate these risks? Let’s explore the obvious and not-so-obvious safeguards that can be put in place to ensure that this scenario does not befall your investment.
To read the full article...Click here...
06 March 2017 - The Property Investor Magazine
TPI.com - List Maker - Property Management
Property renovation can be undertaken with a variety of objectives in mind, but if your objective is to increase the rental income received from your investment property, how do you assess what will add value and what will not?
This can be a complex question, but by following our tip 5 tips, you can simplify the process and help to ensure that you receive the highest possible return from your renovation investment.
To read the full article...Click here...
01 October 2016 - Property Guide
Domain.com.au - Fairfax Regional Media
The Ballarat Courier / Warrnambool Standard / Moyne Gazette / Wimmera Mail-Times / The Ararat Advertiser / The Stawell Times-News / Illawarra Mercury
One of the greatest misconceptions around preparing and presenting homes for sale is that the benefits of professional property styling or home staging are only applicable to high-end, expensive properties in the finest areas.
In fact, nothing could be further from the truth.
This week, we demonstrate how with careful planning and execution, we produced results for our client that clearly demonstrate results that prove that professional presentation of a property for sale is both affordable and, most importantly, brings with it significant financial returns.
As we have outlined before, despite our honest belief in the benefits that property preparation and home staging offers, we understand the scepticism. In so many cases, there simply isn't the data available to draw an irrefutable, direct conclusion about the benefits.
We think we can change that for you, right now, so read on...
There are plenty of decisions to be made before placing your property on the market. Questions such as which agency and agent, type of sales campaign, marketing strategies and whether to hold open for inspections or private showing only, all need consideration.
Once these issues are addressed, the most common concern our clients express at the beginning of any project relates to whether they will increase the selling price of their home by engaging a property stylist to prepare and present the property for sale.
To be honest, despite our honest belief in the benefits property preparation and styling offers, this can be a tough question to answer, because in many cases there simply isn't the data available to draw an irrefutable, direct conclusion. That is until now.
Placing your investment property on the market at the end of a tenancy period, whilst it is unoccupied, overcomes many of the obstacles that could lead to a diminished pool of prospective buyers and the poor presentation of your property to market.
On the surface, this seems like a great strategy, but what about the other considerations?
For as long as I can remember I have always loved property, but real estate really became a passion for me when I was old enough to become involved myself, rather than observing from the sidelines.
When I was in my early twenties, I took my father to inspect a property that I wanted to buy. I had already looked at it a couple of times and was beyond excited about the prospect of owning it.
One of the most frustrating and stressful aspects of selling your home is the need to keep everything in display-home presentation condition, every minute, of every day during your sales campaign.
Obviously, it is vital to the success of your sales campaign that the house is clean and beautifully presented every time that someone inspects. We also have to be realistic and acknowledge that there will be occasions where a short notice inspection is inevitable. It’s all part of the process.
For most of us, selling our property is one of the single largest financial transactions that we will ever undertake. Couple that with the fact we may only go through the process a couple of times in our whole lifetime, it is no wonder that sellers frequently remark on how stressful the experience can be.
Last year I was asked to give some advice to a couple that had been trying to sell their house for 12 months without success.
Once your property is spic'n'span & all maintenance has been attended to, the next critical issue to address is the presentation of your property via the use of furnishings.
What we need to show buyers here is how each area or zone of the home can be utilized, creating a sense of warmth that invites the potential buyer to see themselves living in the home.
The determining factor in deciding how to approach this area of preparation is budget and the style and condition of existing furnishings.
'There are many options available from full furniture hire & styling (where all of the existing furniture is placed in storage for the duration of the sales campaign) to partial or full use of the home owners existing furniture.'
Some stylists insist on & will only offer services to home owners who are prepared to offer a vacant property to work in and accept a full hire & style service. In many respects this is an easier situation for the stylist, but I believe that this is not always warranted.
'The objective is to present the property in its best light, so that the best price and quickest possible sale can be achieved. A house full of hired furniture is not necessarily required to achieve this objective.'
If you intend to use your own furnishings, make a list headed 'Use It, Move it or Lose it 'and follow these steps:
Assess all decorative items:
Now hop to it and re-arrange or store what you have to achieve your desired effect!
Looking at your own home and possessions objectively is not as easy as it sounds. A fresh pair of eyes can prove invaluable and so can an expert opinion. 3 Pea’s Property Styling is able to assist and advise you on every step of this process. This is a fantastic, economical styling option. A flat hourly rate is charged and we can tailor the service around your budget and advice needs. Why not contact us today to see how we can help you?
We love receiving your feedback on our blog content and are happy to answer any questions you might have about our recommendations. Why not leave a comment here or contact us now!
A question we've been asked a lot lately is…what is it that we actually do at 3 Pea’s Property Styling?
So, I thought I would interrupt our weekly blog which has been focusing on what you can do to prepare your property for sale, to talk a little bit about what it is that we can do to assist you.
A common theme with real estate vendors (naturally) is that they want to achieve the top price that they can for the property that they have for sale. In some instances, there is also a focus on how quickly a sale can be achieved. As these are the top 2 priorities for vendors, they are also the top priorities for 3 Pea’s Property Styling.
Using our extensive experience & knowledge, we are able to provide advice & practical assistance to prepare and present a property for sale, with both of these objectives in mind.
Are 3 Pea’s Property Styling Interior Designers?
No, we are not interior designers. The service we offer does encompass property styling, which is essentially the presentation of the property, solely for the purposes of achieving the stated objectives of the sale.
Property styling differs from interior design in that the property is presented to appeal to the widest possible number of people and to accentuate the desirable features of a property whilst minimizing the impact of any less desirable features.
Is Property Styling the only service 3 Pea’s Provides?
Putting your property on the market can, for many people, feel like an overwhelming task with so many things to think about & tasks to complete in preparing a property for sale. For many the biggest barrier to getting this preparation completed is a lack of time.
3 Pea’s Property Styling offers additional services to help people through this process, including cleaning & gardening services & engagement of trades to undertake repairs & maintenance.
As many or few of these services can be utilized as desired & 3 Pea’s will even work with you to determine which preparation tasks you can complete yourself, if that is how you would like to proceed.
What is the cost & is it really worth it?
The cost involved varies & depends on the services required & the size of the home involved, however, as a guide, furniture hire can start from as little as $1450 for a 6 week sales campaign.
According to leading real estate agents, property styling will increase a sale price by 7.5 - 12.5% on average & will; Earn a higher sale price (81%), achieve a quicker sale (70%), have more bidders at auction (64%) & have an increased number of offers (50%).
3 Pea's Property Styling is here to ensure that your greatest asset is presented to its fullest potential when it comes time to sell. Our services will ensure that with a minimum of fuss, your property is ready to go to market when you are.
Click here to see how your home could look when presented for sale, read the answers to our FAQ's or Contact Us today to discuss how we can assist you to prepare your property for sale.
Now that you've prepared a plan, repaired, painted, and assessed your floor and window coverings it’s time to look at everyone’s least favorite topic – cleaning.
The only thing more off-putting (and therefore price reducing) for a potential buyer than a property that has not been well maintained is a house that is not display-home clean. No-one (and I really mean no-one) likes the idea of having to clean a property before they can even move in and a sparkling clean home creates the impression that yours is the best cared for house on the market. This equals nothing to worry about for your buyer, which sets them at ease and translates to a higher sale price for you.
Although it is not the most appealing job to tackle, think of it like getting a jump start on your move and having these tasks done now will simply mean be fewer things to do when the time comes to move after your very quick sale.
'It is important to remember that potential buyers will be going over your home with a fine tooth comb. It is best to assume that they will be looking in, under, over and through every part of your house and the task of cleaning needs to be approached with this in mind.'
The following list includes some room-by-room tips for cleaning items which should not be overlooked:
With modern life as busy as it is, facing such a list of cleaning tasks can seem overwhelming. 3 Pea’s Property Styling is able to arrange and co-ordinate a thorough clean of your property, ensuring that all these items are attended to and that your property is ready to present to market in sparkling condition. Why not contact us today to see how we can help you?
It seems that our blog posts are developing quite a following, so if you've missed ‘The 1 Month Rule’ or our ‘Top 10 Real Estate Pre-Sale Tips 1, 2 or 3’, you can click on the links here to see what all the fuss is about!
We would love to have your feedback on our blog content and are happy to answer any questions you might have about our recommendations. We invite you to leave a comment or start a discussion with us now!
If this is the first of our blog posts you have read, welcome!
Each week we are sharing information that will help you in your efforts to prepare your property for a grand entrance onto the real estate market. Logically, making a big impact at the time of listing provides the best chance of a quick sale at a high price.
If you have missed our recent blog posts, you might like to catch up on the last couple, including ‘The 1 Month Rule’ and our ‘Top 10 Real Estate Pre-Sale Tips –Tip 1 and Tip 2’
This week, we cover the 3rd of our ‘Top 10’ Pre-Sale Tips which looks at the most important points to focus on in relation to floor coverings.
The preparation concepts suggested in our previous posts, ‘The 1 Month Rule’ and our painting & window treatment tips in ‘Top 10 Real Estate Pre-Sale Tips –Tip 1 & Tip 2’ are all designed to help you make a start in truly presenting your property for sale in the best possible fashion, which in turn will make a big difference to how long your property takes to sell and ultimately the price you are able to achieve.
In relation to floor coverings, consider the following:
Do you have questions about this or any of the other topics we have covered so far in our Pre-Sale Tips series? We are happy to answer any questions you might have and would love to have your feedback on our blog content. Why not leave a comment or start a discussion with us now?
Jo Powell is the Director of 3 Pea's Property Styling. Combining her creative skills with her accounting background to assist her clients to achieve the best possible outcomes in the sale of their property.