As stagers we are always asked if it really works and chances are unless you’ve actually experienced the results of home staging you are still probably a skeptic. To that I say if staging didn’t work I would not have a successful business. Now yes other companies go out of business and quickly it’s more often a business issue than a staging issue. Many stagers are good at what they do but they can not run a business. Why? because it rely’s on the two opposite sides of the brain the creative side and the analytical side. This is why I chose early on in my business to hire amazingly creative and professional women to do the home staging while I focused on the business and driving it forward.
Six years later we are still going strong, won many awards along the way.
So let’s get to it what are 5 ways staging WILL save you money.
1. Decrease your days on market (DOM)
This is important because every day you are on the market it is costing you money. Monthly operational costs add up and quickly if you’ve already moved out into your new home. To find out how much you will spend by not staging and sitting on the market take all your monthly costs of heat, hydro, mortgage,
seasonal fees, ETC add them up and multiply by 6. This is the average DOM a empty home will sit on the market with out an offer.
2. Attract buyers online
We are in a digital world and let’s face it everyone views the homes they want to see on their computer, iPad or smart phone. When homes are staged they will appeal to buyers online by showing them an attractive space they can live.
This will increase foot traffic and in the life of numbers the more buyer foot traffic you can get into your home the more likely you will receive an offer.
3. Reduce lowball offers
Buyers want the BEST home that they can afford which means if you have bold paint colours, significant updates or damages be prepared to get a lowball offer. No one wants to pay for the previous owners wear and tear on the property. To avoid lowball offers address everything you can first. Paint is the cheapest and easiest way to update a home make sure it is neutral and appeals to your targeted buyer. Which means ANY neutral is NOT good enough. If you do not know what neutral is appropriate a stager can help you.
4. Sell for top dollar
Homes that are properly addressed and well staged are more likely to obtain multiple offers. This happens when many homes on the market are not able to compete with this home on price and attractiveness. Some agents will price a staged home near or under market value so it is an attractive home at an excellent price which has been known to obtain multiple offers. Note: This strategy is not guaranteed as it depends on many factors including market conditions however it does allow for the likelihood of a multiple offer situation to happen greater than a standard selling situation.
We’ve helped a high end home that sat vacant for 4 years with no action sell in 2 days for $15,000 over asking after we staged the entire home.
During a buyers market we also helped a town home sell the first weekend it was listed for over $40,000 over the original list price just by fixing up many issues with in the home prior to sale.
5. For every $1 you invest into your home you will SAVE $3-5
This loosely links to reduce lowball offers. That’s because home buyers will obtain multiple quotes on how to paint or fix an element with in the home and submit to the sellers the WORST CASE quote so if it costs you $100 to fix the issue the home buyer will be asking for $300-500 off of your home. HOLD ONTO your homes equity by doing as much as you can before you list your home.
Written by Kristy Morrison - thank you for sharing
Kristine Vowles the Founder of The Luxury Look still enjoys after 30+ years being involved in the Real Estate Industry as a Leadership Trainer, Investor, Mentor as well as the world of Design and Renovating. Now it is about building relationships, good design, assisting others in achieving their goals and having fun with family, friends and colleagues.