Vendors are using property stylists in an effort to make their homes noticeable in a slowing market.
Stylists say that demand is growing as vendors do all they can amid declining home values and stricter bank lending requirements, which have resulted in a rise in how long properties sell.
The rise in demand is attributed to the fact that homes are taking longer to sell.
Homes in Newcastle are averaging 60 days on the market, more than double that in 2017 where we the average was around 28.
Sellers are opting to style and present their homes to show buyers how they could live in the home with specially handpicked furniture and other home décor.
There are some clients who pay $12,000 or more for the use of a property stylist and furniture rental in preparation to sell, depending on how large the home is. There are also others who might spend as little as $3,000 and still use some of their own furniture for open inspection.
Newcastle is also seeing a rise in demand for property stylists due to smart sellers wanting to make their property stand out from the rest.
People have more awareness of the property styling industry compared to 13 years ago. Previously, people would assume that a stylist was a hairdresser. But now vendors realise gorgeous furnishings can establish an emotional link with buyers and increase their price expectations.
Much of the demand is coming from downsizers who are both selling and buying. Property stylists and agents are helping these clients get rid of all their clutter and their surplus belongings. These people have been living in their homes for 30 years, so they are intimidated by it and are very emotionally invested, they need someone to help them out.
Many new stylists have entered the Newcastle market in the past 3 years and this may surprise many people. But the fact is, you have to spend money on making your home beautiful to stand out from your competition, to sell your home faster and to realise the most amount of money in your bank. Ever heard the saying “Spend money to make money”?