Page 2 - Welcome Home Magazine September 2021

HOW TO GET THE MOST OUT OF

SELLING IN A HOT MARKET

When the market is hot, it seems like it’s a seller’s paradise. Buyers are snapping up properties quicker than
new stock can be listed, competition is fierce and prices are on the up. However, things aren’t always as
straightforward as they may appear, though, and hot market conditions present a number of opportunities
and pitfalls for sellers to navigate...

Is property styling still necessary in a hot market?

When the market is surging and properties are being sold at such a fast clip, there may be a temptation to
save on marketing tools like property styling. But is that wise?

Tristan Tomasino, director of Biggins & Scott in the Melbourne suburb of Yarraville, believes making the
investment in property styling is “absolutely crucial” regardless of market conditions. “In a hot market that
could be the difference between getting $20,000 above your asking price, or getting those extra two or three
buyers that love your home that maybe wouldn’t have looked at it if it wasn’t styled, and next thing you know
you’ve got $200,000 above asking price.”

"You want to make sure when the buyer scrolls through the portals—Real Estate, Domain,
etc. — your property stands out from the competition."

Our own Hanna Graham recently sold 11 Russell Street, Invermay, a three-bedroom renovated cottage which
has recently been vacated. With a valuation originally set at the $350,000+ Theresa, the owner, decided on in-
vesting in property styling for approximately $3,000. With 11 offers received, in just 8 days it ended up selling for
$457,000. $107,000 over the originally appraised expectation.

“One of the main benefits of property styling when selling is that it creates an emotional connection with
potential buyers,” says Lauren Lewis, Creative Director at leading Sydney interiors brand BOWERBIRD Interiors.

“Creating that emotional connection is really key in converting a browser to a buyer because it helps
them to visualise themselves living in the house.”

Optimising and maximising a space is crucial when looking to appeal to the broadest base of buyers, she
says, adding that a little money can go a long way. “When it comes to renovating for sale, if you don’t have
a massive budget to work with, one thing we say is you don’t need to completely redo your kitchen or redo
your bathroom. Sometimes something as simple as repainting the walls can really change up the space quite
quickly.”