Almost daily, there is an article on how updates and staging are necessities when marketing your home. So why aren’t sellers doing just that?
Maybe they don’t know the right updates to make, or what provides the best returns on investment. They may not have the right resources or contacts. There’s always the belief it’s going to be a lengthy process. The result is what I call seller paralysis, the inability to take the right steps to make more money.
Ebby Halliday listing agent Melinda Miles knows what the market demands. As a Realtor with a background in interior design, she understands what updates a home needs to resonate with today’s buyers.
Barbara Cocoran put it rather well: “Why wouldn’t someone stage if they want to sell a house, and if they want to get more money for the house? I don’t get it.”
You probably know Corcoran from her regular appearances on Shark Tank. What you might not know is she built a real estate empire, the Corcoran Group, into a powerhouse and sold it for $66 million in 2001. She is, and always has been, a huge proponent of staging. So why isn’t everyone?
It’s a mystery to me. As a stager, educator, and writer I continually talk and write about the advantages of home staging. It’s a no brainer. In a recent staging class, I teach for Realtors, a hand shot up.
“Isn’t staging always cheaper than the first price reduction?”
Yes. Yes, it is.
Realtors and sellers seem to be getting the message. The National Association of Realtors released their 2019 Profile on Home Staging recently and a whopping 83 percent of buyers’ agents say staging makes it easier for buyers to visualize a property as their future home. This figure was up from 77 percent in 2017. The profile is only released every two years, and this is just the third time it’s ever been done.
By William R. Nadeau
As a professional dog trainer, I am often asked for pet advice for all sorts of doggie dilemmas. One question frequently comes up among clients who are selling their homes: “What do I do with my pets if my home has a showing?”
Since moving to Dallas, in addition to my dog training business, I have been involved in real estate staging. I often think of home staging solutions for pet owners because you are, of course, trying to sell your house — but you love your pets and care about their well-being!
Here are a few options:
Do you ever wonder what your real estate stager does in between consulting on occupied and vacant properties, writing reports, proposals and contracts, shopping for and selecting just the right furniture and accessories for vacant properties, re-arranging furniture in listed homes that need help, managing inventory systems, packing, unpacking, scheduling deliveries and pickups? Well, I mean, in their SPARE time? (more…)
We all know staging works. However, convincing sellers to stage can sometimes be a challenge. Even though they realize their homes will look better and sell more quickly, some are reluctant to spend the money or take the time required to properly prepare their homes for sale. Consulting with a stager prior to putting an occupied home on the market offers information that allows a seller to prepare their own home. If they don’t have time, they have the option of using the stager to complete the work.
It’s common knowledge as well that an empty home holds no emotional appeal. It’s also hard for a potential buyer to to tell the function of an empty room in online photos, much less connect with it. In other words, they are much less likely to hop in the car and race right over to make an offer. Even in our hot market there are plenty of vacant homes lingering — some for months. People need the visual connection and the spatial understanding that only furnishing a home can bring.
The bottom line for any seller or Realtor is return on investment. Why lower the price point on a home tens of thousands of dollars when you can spend a fraction of that by calling a professional stager who will make your home look like it belongs in a magazine?
The photos of a staged home will bring in buyers who are ready to make offers because they have already connected with that home. Everyone stands to make more money if a home looks great and that’s really the name of the game. The Real Estate Staging Association has created a handy infographic Realtors can download to help break down the return on investment, which you can see after the jump.
While executive editor Joanna England and senior writer Leah Shafer write about homes every day, they had never staged one until the CandysDirt.com team descended upon 307 N. Waverly in North Oak Cliff’s historic L.O. Daniel neighborhood. To say it was a learning experience is quite the understatement.
After the de-staging, Leah and Joanna got together for a brief post-mortem chat to talk about what they learned from the experience, which rooms had the most dramatic before-and-after shots, and what they wish they could have done. Jump to read more and to see the dramatic photography!
Editor’s Note: This is Part Two of our five-part series breaking down our free team staging of 307 N. Waverly. Read Part One and here.
Would you rather spend about $250 having a professional stager give you advice on how to prepare your home for sale or take a $10,000 (or more) price reduction? Seems like a huge no-brainer doesn’t it? Yet it happens constantly. So what is the problem?
It’s the lack of understanding about what staging is and what staging does.
Staging encompasses many service options, and the most overlooked — a consultation — is the most affordable. Armed with the information provided by a stager, any seller can put in a little elbow grease, borrow some items, and create a profound impact on the look of their home. They will also, most importantly, improve marketability and make more money.
That is the big takeaway from our CandysDirt.com team staging of 307 N. Waverly. The first price reduction on this home was $10,000. Professionally staging it was less than $2,500, or approximately 1 percent of the original list price. If the sellers had consulted with a stager, they could have done it for much less.