So your property has been idling on the market for awhile now…
Calls to view your property are few and far in between.
And the only offers you get aren’t really the kind of offers you’d even bother to entertain.
Should you do something about it?
Because here’s the deal…
The longer your property sits on the market, the harder it is to sell it off.
In fact, you’d be better off taking it off the market for the time being just to let things cool down a little…
You see… It’s very likely you have neglected one of the most important aspects of selling a house – Creating an awesome impression on the minds of every buyer who walks through the door.
And there’s no better way to do it than through a tried and true strategy – Home staging.
So today I have invited a special guest, Mr Kelvin Yeo From Singapore Furniture Rental (SFR) to share with us his expertise on home staging and how it can help you in the home selling process.
Let’s dive right in!
Kelvin, your company offers an excellent service called home staging. Could you tell us what exactly is home staging and how it can help sellers and landlords transact their properties faster AND at a higher price even in a weak market?
Home staging simply put is transforming the current state of the property into show flat condition before listing the property onto the market.
It can be as simple as shifting of furniture and putting in accessories, to a major overhaul of painting, disposal of old furniture and putting in new ones.
We typically stage the property with furniture and accessories that is neutral in colour and design, so that it can appeal to the highest number of potential buyers/tenants.
The purpose for doing this is to create the best first impression for potential buyers or tenants.
This is especially important in the slow market, when you have oversupply of properties out there competing to get rented or sold, you want to make sure that your property leaves a positive lasting impression.
By getting the property ready for listing, it helps to increase the perceived value of the property and allow it to stand out from the rest of the crowd when marketing.
Could you tell us how long does the “home makeover” take on the average?
We usually take about 2-3 hours (for a typical 2-3 bedroom unit) to stage the unit as well as to take the after staged pictures of the unit.
That’s great, and I understand that home staging is a very prevalent practice in the U.S. and U.K. Markets. In your experience, could you tell us if it works just as well in the local market? Are there any successful examples of properties being sold or rented because of a successful makeover?
At the start SFR had to “educate” a lot of our landlord and real estate salesperson clients what staging is and how it can help, as the local market had no prior awareness of such practice.
However after several successful projects and sharing sessions that we did, home staging started to catch on and we have clients that will always look for us to stage their properties before listing it in the market.
For example, one of our landlord customer that was trying to sell her 3 bedroom HDB flat had been marketing the unit for over 6 months.
The place was very old, run down and full of clutters that they have not thrown away.
They received a few offers, however it was all below their asking price.
And the average viewing time for the property was less than 5mins.
It was really hard for the agent to sell the unit when all the buyers leave within 5 mins!
We came in to stage the place, all done within a day.
Within the next 3 weeks, the agent managed to sell the house above their asking price!
And all the viewings that took place during those 3 weeks, span an average of 20mins!
The agent was able to make use of this increase in time with the buyer to “sell” them the feature and benefits of buying this property.
Since doing home staging last year, we have staged over 50 projects, ranging from landed properties, condominiums and hdbs.
Of which, 90% of these properties were transacted within 2 months after staging.
The fastest record being 3 days!
One of the potential problems that homeowners could face is the storage of their existing furniture and belongings. Do you have any advice for them on how to manage this potential problem?
If the homeowner is looking to sell their place, we will usually recommend them to do a round of decluttering first.
Dispose off furniture and clutters that they do not want anymore.
If they still have a lot of furniture that they do not want to throw away, we offer them rental of our warehouse space to store those furniture.
Are there any other potential problems that could crop up? Do you have any solutions to these problems?
One of the common issue we face is homeowners that is still staying in the property that they want to sell off.
Even after we staged up the place, it can get messed up or dirtied from living in the house.
What we will do is to take pictures after we staged the unit and advise the homeowner to put everything back to the proper place and position according to the pictures before any viewing take place.
What is the average cost of such a service?
Home staging for a 2 bedroom starts from $350/mth for a 1 bedroom to $550 for a 3 bedroom.
What is the procedure of engaging a home stager?
We will do a site visit first, provide a complimentary consultation and proposal. Once the customer gives us the go ahead, we can stage up the place within 5 working days!
If my readers are interested in contacting you for a home staging session, how should they do so?
Just give us a call at +65 6759 1021!
They can also check out the projects we have done so far: http://www.singaporefurniturerental.com/home-staging-2/home-staging-portfolio/
We are happy to waive off $100 home staging fee if the readers quote SGPROPERTYREVIEWS when they call in to enquire!
Thanks for the time Kelvin!
Now it’s your turn
Is your home in desperate need of a makeover in order to sell it at a price it deserves?
Best of all… Most of it are either low-cost or free “upgrades” that you can apply immediately to enhance your home’s appeal!
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