1.2 Million dollar property BEFORE
Same property AFTER staging.
SOLD in 4 days for 99% of list price!
There are about a dozen shows on TV now that show home owners how they can increase the value of their home before listing it for sale so it results in quick profitable sales. So I’m quite baffled as to WHY there are so many out there that still don’t realize that staging is an ASSET to them and not a cost.
Did you know the way you stage a home is changing? (more on that this November) but it is important to know what you’re doing with staging. It’s MUCH more than where a couch goes or how many fluffy pillows to use. If you have a true professional stager they will be able to create a space for a TARGET market (not any market) because your home will sell to SPECIFIC genera. A fun hip downtown condo will not be marketed to the retirement community. A 4 person family home will not be marketed to a single person. Making a home prepared for anyone doesn’t get you too much farther than “ok this place looks good”. When targeting a specific buying group emotional elements will be used and make the home owners laugh, pause, and allow them to envision them having their life there.
As a result of proper staging you can expect the following results to some degree.
1) Increased value –Major renovations are rarely done during staging but small improvements that would have a ROI (Return on Investment) will be suggested. Decorators are NOT privy to this type of knowledge as their training focuses on “making it look good” yes looking good is a good key element BUT if you don’t make money off of it in the long run with the sale of the home why are you bothering to do it!? Any home appraised after staging has always been appraised at a higher value.
2) Increased offers & decreased poor offers – A home that is viewed as well maintained and move in ready has been proven to drive higher offers as buyers who would of given a “low ball” offer see that the home is WORTH what you are asking. With the same token on these well maintained homes when they are APPROPRIATELY priced (not too far from market value) it does drive up the interest and results in multiple offers.
3) SOLD for over asking –Yes not every home will sell over asking that is not what I’m saying but I AM saying it does happen and often. What does it take to sell over asking? Price, Presentation (staging), Location and a hot market doesn’t hurt either! My company has helped a home owner invest only $5,000 into updating their deceased fathers town house and they obtained after the first weekend’s open house $40,000 OVER the original list price. Good investment? I think so!
4) SOLD in under 30 days – Last statistic given to me by a realtor was that the average home in all of Ottawa was on the market for an average of 53 days (give or take a few) Out of the 300+ homes we staged last year our average DOM average was only 15! Why? Well we used specific principles behind targeting our properties to the right buyer and being full service so we can help our clients as much or as little as they choose.
So if you really don’t like money, and don’t want to increase the value of your home or even decrease the amount of time you spend on the market then by all means don’t stage your home or use the advice of any professional.
Ask me how you can have a career in home staging!