Why You Should Stage Your home in a Sellers’ Market!
I would like to share with you an interesting thing that has happened to me during these past few months.
On a few instances I have been brought in for a Staging project by e Realtor “because the seller asked to work with a Professional Stager”. That’s right, the Seller asked the Realtor to get them in touch with their preferred Professional Property Stager as they prepare their house for the market.
It is truly amazing to see the shift in people’s mentalities when it comes to Property Staging. I am thankful for all the smart sellers out there who truly understand that Property Staging is not just about “bringing some furniture into a vacant space”, and it’s not just about “fluffing their home”.
Smart Sellers understand that Property Staging is a powerful marketing tool that when used correctly it has tremendous FINANCIAL benefits associated with it.
We are stepping into a Sellers’ market these days and there is a lot of talk about how the sellers are benefiting and how “offers will practically just drop on their lap”, because the demand for homes is high and the supply is low.
Although I understand the concept of supply and demand really well, I also do understand that REGARDLESS of what the market is, buyers are smart and savvy these days; they want the Best Product that meets their needs and wants at a dollar amount they are willing to part with.
Let’s take this example:
You go to a 5 star restaurant for dinner. You have the most decadent appetizers and entrees one can possibly have in their life. You enjoyed every bite of it…now it is time for dessert. You happen to love Cheesecake and you really want to order some. You talk to your waiter and he gives you your options:
You can have their “Regular Cheesecake”, or for $1.50 more you can have their “Special Strawberry Cheesecake”.
I don’t know about you but for only a $1.50 more I definitely want the Strawberry Cheesecake which comes with drizzled chocolate caramel and strawberry sauces topped with whip cream and a glazed strawberry. Yum.
(Oh and btw, I guarantee you; it did not cost the restaurant $1.50 for the toppings).
The strawberry cheesecake creates a feeling within you and it eludes a vision of the reality of having that cheesecake vs. the plain one and you just can’t resist it, plain and simple.
That’s exactly what Staging does to a property. It presents the buyer with the opportunity to emotionally connect with a property. It also sets your property apart in presentation and value from all the other “cheesecakes” in your neighborhood that are up for sale.
UNLESS you don’t want to make more money when it is readily available to you for a minimal investment of time and money (perhaps even some sweat equity on your part) than Property Staging might not be for you!
…therefore you need not read further.
But if you want to make more money when it is readily available to you than read on…
Here are 4.1 reasons why you should Stage your property in a Seller’s market:
1. Property Staging is a Practical Real Estate marketing tool.
Once your property is listed on the MLS your job is basically done. All you have to do now is sit back and wait for the buyers to come by, tour it and make an offer on it.
We need to understand that the internet has changed the way we do business in every area of our life – and that includes selling a home. Did you know that 42% of buyers used You Tube to look up houses for sale last year? That means, pictures may no longer be all that valuable. The video and the virtual tours will be! I can only imagine how a home that is not staged would look on video, especially if it is not done by a professional. I read this expression a while back I thought it was so true and also so funny at the same time.
“If you think hiring a professional is expensive, wait till you hire an amateur”!
Property Staging is becoming an essential and irreplaceable marketing tool, like we have never seen before because we live in a day and age where people are taking care of all their social, private and business needs on the internet.
2. Property Staging is a solid investment.
Did you know that for every dollar you put towards preparing and staging your home for sale, the buyer will most likely ask that you pay them $10. I don’t know about you, but I would rather pay a $1 now so I can keep $9 in my pocket later.
3. Property Staging is a Win-Win Transaction.
All parties involved in a Property Staging project are winners. It can’t get any better than that.
a- Sellers win because they are able to maximize their return on their investment and preserve the equity of their home. Sellers also win because by Staging their property they will drastically reduce their time on market, which will directly reflect on their pocket book.
Less time on market = less mortgage expenses and all the other costs that go along with having a mortgage, such as tax and insurance payments, maintenance cost, etc.
b- Real Estate Agents win because a higher sales price translates into a higher commission payment for them. Real Estate Agents also win referral business if they sell faster and for top dollar. If a Realtor has sold my neighbors house in two weeks, who do you think will be the realtor I will most likely be inclined to do business with when I am ready to put my home on the market?
c- Buyers win because you give them the opportunity to gain their confidence in the property they are buying from you and because you also give them the opportunity to fall in love with the house/property of their dreams.
d-Professional Stagers win because they are given the opportunity to exercise their creativity and gift of knowing how to merchandise a property for sale by Staging it while at the same time being able to financially support themselves and their families. Most Professional Home Staging Businesses are run and operated as a local small business and when you hire a Professional Local Home Stager, you are supporting small local businesses.
4. Staging a Property = a deal done quickly and for more money.
You would want to Stage because you will get the deal done quickly and for more money. Did you know that Staged homes sell 2 to 2.5 times quicker and for 17% more than the non-staged homes?
4.1 Property Staging may also increase the appraisal value of the property which in turn naturally would allow some buyers to qualify for a mortgage easier.
It would make sense to me that you Stage your property 100% of the time, regardless of what the price of the property is and what neighborhood you live in.
These are my thoughts, what are yours?
Keti Abazi, MBA, ASP, IAHSP
Owner and Creative Director of Design by KETI
O: (214) 814 – 5967
To invite Keti Abazi, to be a speaker at your meeting or function, you may contact firstname.lastname@example.org. Your audience will find her presentations on Home Staging not only educational but also amusing, genuine and refreshing.