The Wow Factor with Alexander Payne
Staging your property before selling is crucial for a quicker sale with better offers. Melanie Rosettenstein speaks to Real Estate Agent Alexander Payne about the benefits of using a property stylist to give your home the WOW factor in a competitive market.
Having worked as an HR Director for a large corporation in Melbourne for decades, it was selling his home ahead of a move back to Noosa 11 years ago that prompted Alexander Payne’s desire to move into Real Estate.
“I lived in my Melbourne home for 23 years and everyone in my life loved that house — with my eclectic collection of furniture and décor, walking in there was like getting a big hug,” Alexander said. “But my real estate agent said it needed to be styled to give it an edge and attract a wider range of buyers. I had to disconnect from the emotions surrounding the house so I could list it and move on.”
Now a Licensed Agent at Reed&Co, Alexander credits his HR background with helping him understand the emotional side of property transactions and says it was his personal experience of the process that piqued his interest and began his journey into property selling and styling.
“Styling your property is 100% about appealing to the broader market,” he says. “If you want to appeal to your target audience, and get your asking price, your home must have a ‘wow’ factor, highlight its best features, and make a great first impression.”
Alexander recommends the first step is to hire a skilled property stylist who will work with your agent and research your target audience to create a welcoming atmosphere. Choosing the right furniture, artwork, and colour schemes will appeal to more potential buyers and provide an edge in a competitive market. Whether you’re downsizing, retiring or upsizing, perhaps for a financial reason, selling a home can be an emotionally charged process.
Alexander says that the challenges around styling a property crop up when people aren’t prepared for their move or believe the home is fine as is.
“While there is generally nothing wrong with the home, it normally reflects the owner’s personality, which may not resonate with potential buyers,” he said. “Your home is just that – ‘your’ home, so it can be hard for others to picture themselves living there.
“Besides potentially facilitating a quicker sale at a good asking price, the styling process can also be a good way to let go and prepare to literally move on.
“It is the first psychological step and allows you to step back from the nostalgia and think strategically about what you need to do to achieve the best possible sale price.”
Because the process can be delicate, it is important to choose an agent that can gently guide you through the process. Alexander understands that with some clients it requires gentle negotiation.
“I recently had a couple who had a lot of mixed furniture in their home, and while it was a very comfortable space, it wasn’t necessarily going to appeal to a wide range of buyers,” he said.
“So, after diplomatic discussions, we replaced some of the decor to appeal to a wider audience and also so that when interested parties came in they could visualise making the space theirs.”
Alexander cites another example of the power of property staging or styling when he took over a home listing that had been on the market for several months with little interest and no offers.
“The home hadn’t been styled, and some awkward spaces made the rooms look and feel smaller than they were,” he said. “We recommended a staging package and the owner agreed so we brought in Blink Living to work their magic.
“The transformation was incredible and after new photos were taken and the property was re-launched, we had 22 groups at the first open house, and the property sold in just four days – much to the seller’s – and my – delight,” he said.
Finally, Alexander notes that not all homes require styling but sellers should ensure they depersonalise their home by removing personal items such as family photos, hiding pet paraphernalia, neutralising decor (and smells), and tidying up to present a desirable place for potential new owners to call ‘home.
The cost of styling your home depends on:
- The size of your home
- The number of rooms
- The level of styling needed
Most stylists offer a range of services from complete styling packages to a basic refresh of your existing decor.
A full styling package can cost between $5,000 to $10,000, but this investment can lead to a quicker sale and potentially higher offers, making it a smart investment.
