When Gary and Cheryl Karlin move to North Carolina sometime next year, they will leave behind a luxurious three-level townhouse on the Gold Coast.
The decor, a blend of contemporary and traditional, was appointed by Cheryl, a designer. It looks stunning and they know it. So why ask Selling Points for advice?
The couple created an environment specific to their lifestyle, they explained to broker Nancy Nugent of Koenig & Strey Realtors, Chicago. But how will it play to the market?
“This is the way we live,” said Gary. “But what are the improvements we can make to make it more attractive to buyers?”
“What are the things we’re expected to do, real estate-wise?” asked Cheryl.
Nugent recently toured the property and made several marketing and staging suggestions.
The turn-of-the-century brick building is wrapped in ornate grillwork. It was converted to six condominiums in the 1970s. The Karlins moved in six years ago and completely renovated their three-bedroom, 3 1/2 bath unit.
The street-level entrance opens to a large foyer/reception area with bleached wood floors and lavish mahogany trim. The den/bedroom features built-in cabinetry, a full bath and an in-the-wall bed. Tucked beneath the staircase to the second floor is a computer nook.
The top floor has master and guest bedrooms separated by a laundry room and exercise alcove. Each bedroom has a private bath.
The lower-level floor plan follows the greatroom concept and has a service entrance. The formal living room features a beige marble fireplace and a built-in mahogany entertainment center. The eat-in kitchen has white laminate cabinets, a planning desk and a center island. There is also a powder room. The Karlins created a formal dining room by moving the staircase from the center to one side of the lower level. They placed a banquette against a wall and can serve eight people by placing chairs around the table.
“You’ve already done most of the staging,” Nugent said. She praised the continuity of neutral colors, which make the rooms appear spacious. “Everything is so soothing. I compliment you on that. A lot of people change colors from room to room.”
To impress potential buyers even further, she advised putting out fresh floral arrangements, clearing the uncluttered kitchen counters even further and turning on all the lights. Many brokers will try to visit a listing prior to turn on the light switches before meeting with their buyers. “When I’m trying to engage a buyer in conversation and ask questions, it’s distracting if I have to lean over and try out” the switches, she said.
Cheryl asked whether buyers will realize their banquette converts the space to a formal dining area. “Would you leave this open or arrange chairs around it?” she asked.
Chairs would interfere with egress from the service entrance, said Nugent, nixing the idea. “You need the passageway. As soon as people walk in and see something they have to walk around, they think it’s crowded.”
“What about putting placemats around the table?” Cheryl asked.
“No, it is very suburban to have the dining room table set with napkins in the wine glasses,” said Nugent. “Many of our buyers are more sophisticated. At a lot of restaurants, seating is like this so they’re used to it. Also, your broker will see it as an opportunity to stop and talk.”
Gary, who is in sales himself, agreed with the logic of creating conversation starters in the showings.
The selling technique can also be employed in the master bedroom, where a hidden television pops out from a console at the foot of the bed. “That’s something a broker will definitely want to demonstrate,” said Nugent.
“But I’d have it down as you’re approaching the room,” said Cheryl.
“I agree, it will block the view,” said Nugent. “At the same time I wouldn’t put a floral arrangement or five magazines on top because then it looks like a table.”
By invitation only
To market the property, Nugent recommended not holding public open houses. Instead she would host a wine and cheese reception, perhaps on a weekday from 3 to 6 p.m., for specially invited brokers and their clients only.
“Potential buyers would be qualified,” said Gary.
For security purposes, a broker or broker’s representative can be stationed on each floor to guide guests and demonstrate features.
“And put everything of value away-out of easy access, not just in a drawer,” said Nugent.
The broker also advised having an attractive brochure with photographs designed and printed. She likes to see the distinctive features of a home detailed as written narrative rather than merely as a long list.
“Something else that is really critical is a floor plan,” she said. “When buyers leave I like them to have as much information as possible about the property. I want them to be able to sit down with a pen and say, `I’d put this here and this here.’ “
