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HOMES>Expert advice>Spare Change

Spare Change

Posted: 2 years ago by Michelle Hutchison, RateCity Consumer Advocate
1 comment
Rated: |

Virtual renovations lead to real sales

Virtual renovations lead to real sales
Photography Getty Images

Thinking of selling but can't afford to outlay the thousands of dollars needed to spruce your place up before inspection? A new digital technology could be the answer.

It's long been known in the real estate world, that when selling homes, peddling a 'dream' is often as important as price or location. That's why many vendors are shelling out thousands of dollars for expensive designer furniture hire packages to get potential buyers over the line.

But in a flat or declining property market, spending money to make money isn't always guaranteed. So when I heard about a new digital technology which allows vendors to add 'virtual furniture' to their space for sale, I had to find out more.

Agents such as L.J Hooker and McGrath are reportedly hiring computer experts to modify images of otherwise bare houses to boost sales. A designer is given a brief and the client can help to select items with anything from a flatscreen TV and designer lounge to artwork and even plants added from about $50 per image. By law, it must be stated if an image has been digitally altered.

But it's not without flaws - some buyers arrive to inspect the property to find it's not at all what was advertised. Yet, given that one of the greatest challenges is to get potential buyers through the door, this new money-saving tool could be just the key that gives your property an edge over its competition.

You could use the extra savings to buy the 'real deal' furniture for your new home!

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2 years ago LJ *** quoted me $17,000 to sell my home and said I'd get a maximum of $710,000 for it. I sold it myself using this company for $725,000 in a pretty flat winter market. I covered the legal fees for contracts etc and the total cost was $1900. The trick is not to advertise it as a private sale and dress and behave at Opens as if you are the agent, which you are. I only revealed that I was the owner to people making an offer and said all negotiations would be done by email to take the 'cringe factor' out of it. It's a good idea to get a conveyancer lined up first. In my experience agents push you to take low offers so they can get a fast turnover. It took me 2 months but I got my price and saved a bundle.

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