Are you attracting the right tenants & buyers?
Have you ever got to the end of a project and though “oh sh*t…what it nobody actually wants to buy/rent this place?!” 🙋🏼♀️😅 Guilty.
We definitely got so lost in the renovation of our last project that by the time it came to having the open day both of us were so nervous that nobody would turn up (even though we were fully booked and turning people away). I’m not sure there’s anything you can do to completely get rid of that feeling but there’s certainly ways to reduce that stress.
I spoke on Instagram last week a little bit about what has been deemed “too jazzy” for the rental market by estate agents but how do you make sure that your property is the one that makes someone click on a Rightmove listing, then walk into a potential home and go “WOW SIGN ME UP!”, i.e. the properties that will still be in demand whatever the wider market is doing.
Appealing to everyone = appeals to no one
You’ll never please everyone, so make sure you’re targeting the right person from the start. Who are your ideal tenants/buyers? Families? Professionals? Students? Retirees? How do they live and what specifically is important to them? Do your research and have these people at the front of your mind for every design decision as they all want and need different things from a property. Print out a picture of them and put it on the wall…it might creep the builders out but it will ensure you don’t forget them. If you know your buyer marketing to them should be a dream.
Also take a look at the competition, who are you up against in your area? Put yourself in your potential buyers shoes when you look at them all and see what you can do to stand out.
Once you have that person in mind, do the leg work for them.
Sometimes we have to bridge the imagination gap for potential buyers to see how they can use the space and imagine themselves living there. Even if it means upheaval and a bit more outlay for staging, that extra spend and time is well worth it. In a recent survey*, 85% of agent/developer respondents claimed that a staged home sells up to three times faster than a non-staged property and can sell for up to 10-15% more than the competition. That’s a lot of sleepless nights saved and more money in the bank account!
As well as that 94% of agents and 100% of developers confirmed that home staging increased the number of viewings for a property with 75% claiming buyers spend more time viewing a home that has been professionally staged…definitely food for thought!
Getting people through the door
With the thousands of listings online, buyers and tenants can “swipe left” for the tiniest reason - so poorly lit or bad quality photos are not doing you any favours. Invest a little in better quality photography and see huge results in the amount of interest in your listing.
How quickly do you think this will rent/sell?
Compared to something like this... both are rentals in the same area listed on Rightmove recently...
This also means paying attention to details, make sure your killer shot is front and centre so it’s the first thing people see when they click on your listing, whether it’s a knockout kitchen/diner or a zen-like bedroom retreat, the aim is to capture someone's imagination in about 3 seconds, so show off your best features.
Make an entrance
First impressions count for everything so once you’ve got people excited to view, ensure the property lives up to standards and looks it’s best when people pull up outside and when they enter. It doesn’t take long to make a first impression so exteriors and hallways can set someone’s mind. Plus it’s the last thing people see when they leave, so put as much love into these spaces as the rest of the house, even a simple paint job and clean can work wonders.
The last 10% is often the most important
Attention to detail at the end will keep you front and centre in a buyers mind, fresh linen, plumped cushions and maybe the odd scented candle (does wonders if you've freshly renovated and the place smells like dust!) will make the place feel even more like home, which is exactly what everyone is looking for.
If you're looking to inject some soul into your investment properties, book a free discovery call, we'd love to chat through your latest project.