EMTPY DEVELOPMENT = EMPTY POCKETS
Updated: Jul 10, 2020
Although you may have a high quality development, unless it's staged it's going to struggle to sell. Buying a home requires the buyer to emotionally connect - do you think this is possible if the development is empty?
Here's our reasons why an empty development leads to empty pockets.
Vacant properties don't stand out in a crowd
Today buyers mostly search on-line. Search results present a list of homes, some of which are likely to be vacant. Buyers decide within seconds whether your development will be added to their shortlist. As there’s no distinguishing features, empty developments go to the bottom or even fall off the buyer radar and if there’s multiple empty homes, the photos will merge into one another in the buyer’s mind.
#1 FACT: 69% of buyers decide whether the property meets their criteria based on photos only
Raise alarm bells that developer is in a hurry to sell or has run out of money
Although a developer may have invested in a high-end design, it can appear to the buyer that the developer has run out of money to furnish the property or is in a hurry to sell as they’re run out of money.
#2 FACT: Buyers are likely to think there is more room to negotiate a better price
Lack of Kerb Appeal
There’s only one chance to create that all important right first impression. This happens the moment the buyer turns up and views your development from outside. Although structurally the development may be to a high quality, without the personal touches in the entrance, which make this a home, the buyer will struggle to visualise themselves living there.
#3 FACT: Two thirds of home buyers think kerb appeal is important
There’s no emotional connection
Buyers are not buying houses, they’re buying homes. Buyers are also buying with their emotions. An empty development remains a house so won’t trigger that all-important emotional connection.
#4 FACT: 80% of buyers struggle to imagine themselves living in a house
Buyers focus on the negatives
In an empty house, buyers’ eyes are immediately drawn to what’s left - the walls, ceilings, windows, floors and doors and the heating system. Buyers will focus on any negatives their eyes are drawn to eg. cracked plaster, chipped woodwork etc.
#5 FACT: Buyers make up their minds within 60 seconds of entering the property whether this is their dream home and its human nature that they focus on negatives
No size comparables
Empty spaces make it difficult for buyers to imagine if their furniture will fit as there’s no comparable furniture pieces - this will instantly put doubt in the buyers mind.
#6 FACT: An empty room looks smaller than a room filled with the right amount of furniture and accessories.
How we can help
Home staging will increase buyer interest, increase viewings (with more of this happening now virtually) and your development will sell for more. Although we can't physically provide our home staging service presently due to Covid-19 restrictions, we do provide our virtual staging service. Developments which are virtually staged, typically, see over 200% increase in online activity. So why would you not consider this cost effective solution?
To learn more, please contact us as firstname.lastname@example.org