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With the federal tax overhaul in effect and a serious dip in real estate sales, selling apartments in New York has never been more uncertain. Developers need to be on their A-game to move their units. Avoid these common mistakes and boost your sales.
Staging the Best Layouts
In any building, there are beautifully laid out apartments and then there are units with less light, out of place columns, low ceilings, long hallways, etc. Do Not Prioritize the best apartments. These units will sell. Help the more ordinary units by accentuating their beauty and turning their flaws into assets. A good stager can make this happen.
Using the Same Stager
Just as you would do with your personal assets, diversify. Investing all your money with the same stager is lazy and won’t give you the competitive edge you need in this market. Using the same stager can lead to boring and monotonous looks or wacky unrelatable designs that does a disservice to the your hard work. Instead, use a couple of stagers that will offer exciting and different perspectives and will shine the best light on your hard work.
Staging Only a Few Apartments
So your building has more than five layouts but you’re only staging a few apartments. Why?? If budget is your concern, then skip this next section and go to the next section. Otherwise, show the best your development has to offer. Take different layouts and make sure they’re designed uniquely different with universal appeal in a way that is relatable and aspirational. There is no quicker way to sell your apartments and help your clients realize their dream
Overspending on Staging
Are you paying $35K or more to a stage a two-bedroom apartment with Luxury furnishing? If so, you’re overpaying. Your R.O.I. has to be better. For a typical two bedroom, you shouldn’t pay more than $30K. In some cases, it can be negotiated down to even half or more. Perhaps it could be free. Also, renting luxury furnishing is always an option so you don’t drain your capital. There are lots of ways to keep your money in your bank when it comes to staging.
Partnering with Stagers Who Can’t Help You Market
You found the perfect stager. They’re a bit pricey, you paid them, they did the job. That’s it? That’s the extent of the relationship?? Absolutely not! For every company you write a check to, they have an obligation to help you succeed. There is no such thing as "I do my job and that’s it." Everybody goes above and beyond. That’s the Team. For stagers, their job doesn’t end after the apartment is staged. They can offer additional value to help move your units. Offer gift certificates to home furnishing stores, free design services, turnkey solutions, help create a marketing buzz via advertising, P. R., and social media marketing, etc. Everybody is in this together.
When you stage with Niki Cheng & Calligaris New York, we help you Win. We offer Italian luxury home furnishing, 95 years in the making, by a family run business. We care about selling your apartments as much as you do. We offer very competitive staging prices. Under the right scenario, we will stage for free. If staging is a drain on capital, we are happy to work with you on a rental options. As value add, we offer incentives to your clients as gift certificates, free design services, turn key solutions, 3-D renderings, etc. But first we drive traffic and interest by creating a buzz through our marketing efforts (newsletter, blogs, social media, P. R., etc) as well as advertising initiatives.
For more information: https://calligarisnyc.com/trade-program-nyc