Why Staging Pays | Total Real Estate Success

Have you ever been in a situation where you decided not to spend money on something and then later ? because of that allegedly cost-conscious decision ? you ended up spending more? We?ve all had at least one of those? so let?s talk about a similar decision that translates into a lot of dollars IN or OUT of your pocket.

Statistics show that the faster a home sells, the higher the price it brings and that the longer a home stays on the market, the lower the selling price. Most home sellers like to go on the market at the top end of what their Realtor?s market analysis says the home is worth, preferring to give the higher price a try and then reduce if and when necessary. It?s not uncommon for a seller who?s been told their home is worth $180-200,000 to start out at the $200K price. Unfortunately, they too often find that they need to come down from their ?testing the water price? to something that will come up on more MLS searches and trigger the interest of more buyers in another price range. Typical home price reductions are at least $5,000 ? and more often $10,000. So if a seller who started out at 200K sits on the market for 60 days or more and has taken two price reductions bringing him down to $180K, that seller has theoretically given up $20K and the home still isn?t sold. Looking back and wondering if you could have done something to sell in that sweet time spot of the first 30 days ? or more literally, before the first or second price reduction isn?t fun. Check out the video on our You Tube channel where Maureen draws a great visual of this very common market experience:

http://youtu.be/4QKQJBE1-ow

So what can a seller do to sell as quickly as possible??STAGE?THE HOME. What does that mean? Isn?t the home ?on stage? when you put it on the market? Aren?t we ?setting the stage? to move by selling in the first place? Reasonable questions. A lot of people have heard the term staging and they don?t know what it really means or does. Basically,?staging?as we do it at Total Real Estate Success helps properties sell faster ? and it can be the difference between getting offers and getting ignored. Vacant properties are great staging candidates because it?s easier for buyers to see themselves in the home if there?s a look, feel and atmosphere to at least one room. Occupied properties can also benefit immensely from staging because home owners don?t see their properties and how they use and maintain their spaces the same way buyers do.

Yes, staging costs some money. But it costs far less than the total of one or more average price reductions and has proven to speed the sale of homes. The example of the seller that starts at 200K and drops to 180K and is still on the market is quite common. We?d be happy to share specific stories and before/after photos of homes we?ve staged. We can also do a consultation for you to stage your home. Staging can be as simple as removing and rearranging what you have in the home to a more elaborate scenario where we bring in furniture and accessories. Call us for a staging consultation today to find out what your property needs to hit the market with the splash that will take it off the market by an enthusiastic buyer as soon as possible!

Maureen McGarry, Broker, Realtor Lisa Atkinson, Realtor, ASP
612-568-2234

Here is staging in action:

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