Selling Tips

A Guide On How To Sell A Furnished Home

2 years 9 months ago I 0 minutes read I 65 Views

Renee Tulliani

Are you planning on selling your property and all of the furnishings within it as a means to either get more than the hefty profit on the sale or maybe because you want to move on out to a new home and start over? 
We’ll be cautioned, <a href="https://yourdealty.com/seller/add-new-property" target="_blank" rel="noopener">selling a furnished home</a> is an uphill task, to say the least! Here are 4 things to definitely take into consideration and remember as you enter the furnished real-estate market as a seller.
 
<h2 class="MsoNormal" style="margin: 0in 0in 8pt; line-height: 15.6933px; font-size: 11pt; font-family: Calibri, sans-serif;">1. Your Audience Dynamics-</h2>
The demand for furnished homes is considerably limited. Most buyers looking for furnished homes are either wealthy individuals having an impressively high budget at their disposal and are looking for <a href="https://yourdealty.com/blog/7-genius-ways-to-decorate-your-small-space-for-the-holidays" target="_blank" rel="noopener">designer interior décor</a> that compliments their similarly impressive property or individuals on a strict budget for whom the cost associated with moving priorly owned furniture into their new property is simply not feasible and are thus looking for a furnished property on a rental basis.
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Understanding which kind of audience your property and interior furniture caters to will help you target your sales efforts. If it’s a multi-million-dollar furnished villa located in a central urban area then waiting for a prospective buyer to come knocking at your door simply won't work. You would need to enlist numerous property-listing and real estate agencies who have the platforms and contacts available to broadcast your property details as meticulously as possible.
<a href="https://www.bloomberg.com/" target="_blank" rel="noopener">Bloomberg</a> recently promoted international Hong Kong real-estate mogul Loewe Lee in selling 7 fully furnished homes at $75 million/ unit. The homes aptly titled “<a href="https://www.pinterest.ie/nigelredmond/bespoke-houses/" target="_blank" rel="noopener">Bespoke Homes</a>” became viral prior to their sale as each and every intricacy of the property ranging from the Gilles & Boissier designer furniture lounge to the Christofle cutlery and tableware were extensively showcased via pictures, video reels, virtual tours, in-person tours, press releases and so on. The partnered real-estate agency, Engel & Volker, stated that what made the Bespoke homes stand out in a market cluttered with equally luxurious homes was the attention to even the minutest detail.
Thus, ensuring that you as a property seller not only furnish each and every aspect of your home in as much intricate detail as possible but that each and every detail is notably promoted and featured on relevant media for prospective buyers to see. If you need more ideas on how to describe your property in detail then visit architecture design where celebrity homes are elaborately introduced with carefully crafted themes and stories that bring out a boring old home to vividly colorful life!
However, if your furnished property is geared towards a more budget-conscious audience such as students or travelers then ensuring that all the basic requirements for prospective lodgers are met and advertised is needed. Advertising your property at a specific student or travel-related portals or websites would definitely be more effective in gaining relevant leads. Furthermore, be open to customizing your offer by taking into consideration buyer needs i.e. multiple people sharing rooms/ subleasing arrangements as most people looking for such properties might not be in a position to agree to financially stringent agreements or clauses.
 
<h2 class="MsoNormal" style="margin: 0in 0in 8pt; line-height: 15.6933px; font-size: 11pt; font-family: Calibri, sans-serif; text-align: justify;">2. Audience Motive</h2>
Convenience, convenience, convenience- Say it, write it, memorize it! Everyone looking for a furnished home is doing so because they want to save themselves the time and hassle of going out and decorating their homes themselves. 
Understanding this concept is crucial for you as a buyer. Everything from the interior décor to the selling process to how you interact with the buyer needs to have convenience built into it.
Having a pot filler right above the stove so that homeowners don’t have to walk all the way to the sink is convenient. That’s what motivated Grammy-winning record producer and <a href="https://en.wikipedia.org/wiki/Zedd" target="_blank" rel="noopener">DJ Zedd</a> to purchase a $ 16 million, 9500 sq. ft. mansion in LA! According to architecture design, Zedd stated that he was immediately drawn to the mansion because of a pot filler and that he was in awe of the thoughtful fixture.
 
“If the people who designed this home came up with this then imagine what else they’ve come up with”- Zedd.
 
Of-course you don’t have to spend a fortune taking care of each and every aspect of designing a home that meets every need of a buyer, but you would have to dole out a little to indicate your intent, establish a warm repute that is predicated on enabling buyers to experience convenience in acquiring and settling down into their new property.
 
<h2 class="MsoNormal" style="margin: 0in 0in 8pt; line-height: 15.6933px; font-size: 11pt; font-family: Calibri, sans-serif;">3. Pricing Your Furnished Home</h2>
Pricing a furnished home becomes more complicated as simply comparing your home to similar homes in your area as a means to determine the asking price isn’t doable. The nature and type of furnishings and their uniqueness further add more layers of complexities in calculating an accurate price. Most property sellers would like to calculate the price of their property and then separately calculate the price of all the furnishings within their property and then combine the two figures for a clear and crisp number. 
However, most buyers would disagree with such a number. Since style is an abstract and subjective matter, a buyer may or may not value the design of a particular furnishing such as a bed or a table or an art piece similar to that perceived by the seller. Sentimental value may go out the door. Thus, in order to ensure that such disagreements do not lead to an unsuccessful negotiation, it is suggested that sellers remain open to the idea of re-evaluating their overall package price. Enlisting real-estate agencies to bring more objectivity onto the negotiation table by setting an impartial third-party valuation on the property and its furnishings is a tactic deployed by many.
 
<h2 class="MsoNormal" style="margin: 0in 0in 8pt; line-height: 15.6933px; font-size: 11pt; font-family: Calibri, sans-serif; text-align: justify;">4. Realtor Advice</h2>
Top realtors <a href="https://yourdealty.com/blog/top-tips-for-the-first-time-home-seller" target="_blank" rel="noopener">advise property sellers</a> that even though furnished homes have on average a greater asking price compared to non-furnished homes, sellers may or may not be able to recover all the costs associated with interior design and décor. With that being said they do highlight the benefits of a furnished home. Sellers who are willing to negotiate and settle for a lower asking price may benefit in other ways in the form of multiple buyer queries and offers driving property prices up.
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Also, furnished homes don’t require any staging fees and aesthetically pleasing furniture can make spaces appear larger than they actually are and thus improve property perception. They can act as a countermeasure to offset negative aspects of a property such as an undesirable area or long commute distances etc.
At the end of the day, selling a furnished property is considerably more challenging compared to an unfurnished property. Remember, allowing yourself to carefully examine your entire offering from the buyer’s perspective will enable you to have a more realistic understanding of your furnished property’s value and approach the entire transaction in a more cautionary way.

Renee Tulliani

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