While contributing to an article on "how to sell a house more quickly in a down real estate market by sprucing it up to specifically appeal to pet owners" a big idea came to me.
We are always trying to suggest that houses can be all things to all people - creatiing the most appealing home in the Generic category. "Pottery Barn with a Neiman Marcus twist" if the home is $1 million++; "The Pottery Barn Look by Walmart" if you're in the lower price brackets and pure PB if you're in the middle. But that was when there was a different market.
We were then expecting (often realistically) multiple offers. That goal of as many buyers as possible worked to the seller's advantage. Sellers could relax knowing that they could not underprice their home and be forced to sell at that number. The market itself would drive the price to its correct place, and the seller would do well.
Not so now. There are buyers about, but few are prepared to dive in and "part with coin" (as we say in the Olde Country!)
What if, now that there's little to no possibility of multiple offers, we take this notion of "all things to all people" off the table and "niche down"? Each house-for-sale needs only one buyer. What if we identified a target buyer with complete specificity and then "staged", and more importantly "marketed" the property looking for that one family, man or woman?
What sounds like looking for a needle in haystack is actually, in my own experience, much simpler and easier to do.
PLUS, it's what I've just done with a house that came onto the market at the end of January and has already sold for $3 million after 35 DOM! An Arts and Crafts new-build that was decorated in mostly-Mission-eclectic style. We made it perfect for a specific niche. And the place sold! Not to someone who parrticluarly likes Arts and Crafts/Mission (we're now working on his house which is an anachronistic Tuscan castle of megalithic proportion... and how we sell that remains to be seen!!) but someone who got it, and liked the layout.
It's how I got my voice over business going - I niched down to female, authentic Brit - with the union jack flag all over my marketing materials and got three jobs off my first three auditions!
Similarly, with staging, I don't market to consumers directly. I market to realtors. It's a smaller universe that I can get my hands around.
We should do the same with houses. The web is such a huge help here. A golfer's ideal home would be marketed to golfers online, in their publications, and in places where you would characteristically find them. Some homes look ideal as bachelor pads, and there might be all sorts of interesting places to market them! Which brings me back to "sprucing up your home to appeal to pet owners".... did you know there are 7 million dog owners in this country?
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Juliet Johnson Staging serves the luxury real estate market of New Jersey, with home staging services, marketing consulting and Home Marketing Diagnostics.
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What a great , fun post to read -- loaded with common sense simply stated truths! Loved it!
Hi Juliet-another fabulous post!!! Thanks for sharing your knowledge and wisdom once again.
Thanks, you guys. I wonder if this isn't a perfectly valid way of selling property?
Hmmm.... Now some houses do just scream that at me - Perfect for a bachelor! But some.... I mean I can usually identify a market - a 5 bedroom 3 bath home is most likely going to be sold to a family with children. But what that particular family likes? Interesting concept.... I'd love to see if fleshed out with more visuals (like how you decided it was a "pet" lover's house and how you staged it to appeal to those). Thanks for the thoughts!!
Can provide all of same, Sheree!
If you divide the target market into it's logical sections:-
Then divide in down further into specific niches --
well, you catch my drift... it makes the marketing completely specific and do-able, as opposed to an expensive ad in a major, general newspaper
PS...the retail market is supporting this notion. Look at the new Mudroom fixture from Pottery Barn....
It's on sale for $399 down from $500s. What else more clearly speaks to a niche than that?
You know, the evolution of staging never ceases to amaze me. And you Juliet seem to be right on trend. Thanks for the information, thought provoking and entertaining post. You are creatively orderly in your thought process. Wonderful.
Thanks, Terrylynn. As marketers, stagers must spot and manipulate trends to the home seller's advantage. It's our J-O-B!
Hello Juliet! I really like your concept of marketing to a 'niche'. In reality, the home is staged appropriately; yet, the focus of the Realtors' marketing can be whatever type of buyer they desire. What a great thought and a very interesting idea! Niches can narrow down your buyer pool..in some ways....but not if you cross-market your product! Regards-Kathleen G
Juliet, this was a house we did for a couple that never had kids, however what they had was one very adorable dog, he was their baby. They built this house, and had the windows put in low to the ground so the dog could see out of them, yes in ever room in the house. This gives an amazing presents of light and they look awesome! But talk about a pet lovers home!!!!
It's interesting you should say this. While for years we have talked about staging making homes broadly appealing, lately it is the niche that you know on some level that will be most attracted to a particular property. I our book we talk about those demographics. There used to be a time when buyers came in a pretty predictable;e package but not anymore. Good for you for really dialing in your marketing plan!
Juliet, I have to agree with you on many levels. First off thanks for the infomative and interesting post.
I was on the phone last week for 45 minutes with a Realtor who said that he only stages his properties in transitional style because in his area that is what people are looking for. It did not matter what style the house was or the demographics of the street he wanted it that way. The homeowner though had put in lots of lovely french chandeliers, fixtures in the bathrooms, and a kitchen that said Parisian French Country all over it. She had seen my work and liked how I designed my work to a property and demographic rather than all things to all people. I am now in the middle of these two clients (as I do consider them both my clients) to do the best job possible, get the property sold and design the way I do believe from my experience it should be. Very much a challenge.
I agree with you that times have changed and that our clients needs to understand that and be open to our experiences and our knowledge. I have tremendous luck designing kids rooms in family style houses girl and boy ones and 9 times out of 10 the Realtor comes back to me to tell me how a family with children was buying the house in large part because of the kids rooms. They couldn't get them out of the house during the open houses and showings.
I often do a great pet area in large laundry room or other appropriate area of the property. Number one I am an owner of four dogs so I can relate, #2 the pet market is huge and #3 it adds yet another way creating an interesting space from the same old room (laundry room).
Thanks for the education. Keep it coming. Kym
Juliet ~ Good points. I've never understood why some stagers claim they stage "to make the home universally appealing to all buyers." In fact, professional staging is about making the home appeal to the target buyer. All we need is that buyer to see it!
Yes, Maureen my friend, target buyer but let's get even more specific and make it right for one person. If ti's carried to the nth degree you being to ignite something else in a buyer -- well they've decorated it for a 55 year old golfer, but you know, it'd be just fine for this 45 year old tennis player, let me tell you! Adn that sells houses.
Kym love, of course you do a pet area - always ahead of the curve and always with such style! I saw a model home in a planned community (where you couldn't do your own gardening) where the laundry room was accessorized with a fabulous, beautiful, really eye catching and totally irrelevant rack of vintage watering cans. I spent a good 60 seconds wrapped in wonder at where the designer had found such a piece only to realize I hadn't seen if the space could have been a powder room instead!!
Becky and Nicole - what an interesting project! Thanks for sharing.