Home Sellers Can Get Carried Away When It Comes to Greenery
For some real-estate agents, showings are ‘Little Shop of Horrors’ Meets ‘Jumanji’.
3 min
Q: Has a houseplant ever upstaged a showing?
Senior global real-estate adviser and associate broker
Sotheby’s International Realty, NYC
It was an estate sale, a duplex apartment in a prewar building on the Upper East Side. There was a humongous cactus in the living room, the kind you see in the desert in California. It was like a gigantic Christmas tree, at least 10 feet tall, with tentacles coming out and big, big spines all over the place. When you walked in, the only thing you saw was that monstrosity. There isn’t a word to describe this thing. It was like “Little Shop of Horrors.”
I got pricked the first day I went to see the apartment. It was the summer and I was wearing linen pants and a Tory Burch tunic shirt. I went too close to the thing while I was talking to someone and got caught in one of the branches. It ruined my blouse.
The owners had died, and their children didn’t want to stage the apartment. The first week I said, “We at least have to move the cactus,” and they were like, “Oh no, we don’t want to pay for it.”
So I volunteered to move the cactus. I really wanted to sell this apartment.
It took three guys in protective gear with a chain saw. They started cutting the branches, cutting the branches. It took three hours. They filled 30 or 40 bags—big industrial ones. It cost like $600. I gave the super $100 in cash and he called someone to remove the bags.
We sold the duplex for US$3.5 million. Of course, the children weren’t happy with the price.
David Mazujian
Real-estate agent
The Corcoran Group, East Hampton, N.Y.
The listing in the Hamptons was very pastoral, very private, priced $1 million to $2 million. I would say the owner was a bit of a horticulturalist. There were huge plants that in the summertime would go outside but which came inside in October. I was showing the house in the fall. When I came into the house, I was overwhelmed. There were huge pots on the floor. They were beautiful plants, but it just blocked the view.
It was a huge challenge navigating the living space during showings. I was concerned with liability. You don’t want anybody tripping over the plants.
One potential buyer couldn’t get through the door, literally. It was a back door, and there was a very large terra-cotta pot with these large banana leaves coming out.
Apparently, one time a buyer did move the pot and one of the big leaves was damaged. That became an issue with the owner.
So I learned early on that we have to do our best to walk around the plants and not move them and not touch them. I would say, “Oh, I’m really sorry, the owner is a horticulturalist and let’s just be careful as we walk around this plant and slightly move the leaves.”
I love plants, but if I were trying to sell a house, those things would be gone yesterday.
Alexandria Ludlow
Sales associate
Summit Sotheby’s International Realty, Southern Utah
The house was 11,000 square feet and very old-fashioned. It would be a great place to host a murder mystery situation—marble floors, candelabras everywhere, a knight in shining armor. And on every surface and in every corner, there was a fake plant of some kind. There was fake ivy everywhere—over the tops of the windows, on top of the cabinets in the kitchen. In the master bathroom, they had a 4-foot vase with another 4 feet of fake pink lilies. In the kitchen, there were lots of gerbera daisy-type silk flowers and a wreath that was 4 or 5 feet in diameter. It took two of us to move it for the photos. They could have filmed “Jumanji” in that house.
I gave the owners my feedback for how to spruce up the place for staging. They did everything I asked them to. They had to hire a junk-removal service. They said they filled two dumpsters full of the fake plants—the ones they were willing to get rid of. They filled all the walk-in closets with all the other ones. They were so attached to some of these floral arrangements.
The weirder part is that the house was being sold fully furnished, except for the fake plants. When we were in negotiations, I’d say, “Everything except the family heirloom piano and the fake greenery are included.” The buyer was like, “Are you joking?”
Reprinted by permission of The Wall Street Journal, Copyright 2021 Dow Jones & Company. Inc. All Rights Reserved Worldwide. Original date of publication: May 10, 2021.
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Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
Philip Lowe’s comments come amid property industry concerns about pressures on mortgage holders and rising rents
2 min
Leaders in Australia’s property industry are calling on the RBA to hit the pause button on further interest rate rises following yesterday’s announcement to raise the cash rate to 4.1 percent.
CEO of the REINSW, Tim McKibbin, said it was time to let the 12 interest rate rises since May last year take effect.
“The REINSW would like to see the RBA hit pause and allow the 12 rate rises to date work their way through the economy. Property prices have rebounded because of supply and demand. I think that will continue with the rate rise,” said Mr McKibbin.
The Real Estate Institute of Australia today released its Housing Affordability Report for the March 2023 quarter which showed that in NSW, the proportion of family income required to meet the average loan repayments has risen to 55 percent, up from 44.5 percent a year ago.
Chief economist at Ray White, Nerida Conisbee, said while this latest increase would probably not push Australia into a recession, it had major implications for the housing market and the needs of ordinary Australians.
“As more countries head into recession, at this point, it does look like the RBA’s “narrow path” will get us through while taming inflation,” she said.
“In the meantime however, it is creating a headache for renters, buyers and new housing supply that is going to take many years to resolve.
“And every interest rate rise is extending that pain.”
In a speech to guests at Morgan Stanley’s Australia Summit released today, Governor Philip Lowe addressed the RBA board’s ‘narrow path’ approach, navigating continued economic growth while pushing inflation from its current level of 6.8 percent down to a more acceptable level of 2 to 3 percent.
“It is still possible to navigate this path and our ambition is to do so,” Mr Lowe said. “But it is a narrow path and likely to be a bumpy one, with risks on both sides.”
However, he said the alternative is persistent high inflation, which would do the national economy more damage in the longer term.
“If inflation stays high for too long, it will become ingrained in people’s expectations and high inflation will then be self-perpetuating,” he said. “As the historical experiences shows, the inevitable result of this would be even higher interest rates and, at some point, a larger increase in unemployment to get rid of the ingrained inflation.
“The Board’s priority is to do what it can to avoid this.”
While acknowledging that another rate rise would adversely affect many households, Mr Lowe said it was unavoidable if inflation was to be tamed.
“It is certainly true that if the Board had not lifted interest rates as it has done, some households would have avoided, for a short period, the financial pressures that come with higher mortgage rates,” he said.
“But this short-term gain would have been at a much higher medium-term cost. If we had not tightened monetary policy, the cost of living would be higher for longer. This would hurt all Australians and the functioning of our economy and would ultimately require even higher interest rates to bring inflation back down.
“So, as difficult as it is, the rise in interest rates is necessary to bring inflation back to target in a reasonable timeframe.”
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
