Friday, February 21, 2014

In a HOT Market Does it Make Sense to Stage? by Jennie Norris, ASPM, IAHSP- Owner of Sensational Home Staging


In a HOT Market Does it Make Sense to Stage?

 

By Jennie Norris, ASPM®, IAHSP-Premier®, ASP-SRS®, ASP-REO®

Owner, Sensational Home Staging

Denver Region’s Premier Home Staging Resource



The resale market is tight out there.  In some markets there is little inventory for sale so that creates a Buyer demand that can cause prices to rise quickly.  This causes Sellers to believe that a house can just be put on the market and it will sell to a desperate buyer.  This begs the question:  In a Market where the house is “probably going to sell anyway” does it make sense to Stage before listing?

The Wall Street Journal published an article recently that included information on a recent study conducted that discussed the impact Staging had on Buyers.  In the study, Buyers were shown photos of four different types of rooms from un-staged to Staged and asked what they would pay for the properties based on the photos.  It is a pretty basic approach to assessing the impact of Staging but the bottom line was that a Buyer would offer LESS for an un-staged house and offer MORE for the Staged one.  The differential in their study was 6% of the list price on a $200,000 property.  Do the math.  That is $12,000 MORE for a Seller that has their property Staged.

People that mistakenly believe that Staging won’t make a difference in a HOT market are leaving a LOT of MONEY ON THE TABLE!  Don’t be that Seller.  And if you are a Realtor, dare I say don’t make the decision for your Seller based on the fact that the house will sell? Yes, your personal net gain might only be a few hundred dollars in extra commission but that seller is losing out on thousands more they would keep in their pocket.  Just because the house will sell and you will get your commission faster does not mean it is the best service for the Seller. 

When the house is “going to sell anyway” it does not mean it is going to sell at list price.  Statistics prove that a Staged house will sell for MORE than the un-staged product often resulting in bidding wars for a house that really looks great and becomes the “one” that all buyers want.

How much more?  5-20% MORE based on statistics gathered for the past 10 years.  On a $250,000 house that could be $12,500 MORE to $50,000 MORE for the Seller with either multiple offers, or not getting low offers, or having to reduce the price.

Realtors – does your Seller want “SOME” of the money out of their house or do they want every possible penny?  When a house sells for just $5,000 MORE – that Seller is going to net about $4700 MORE in their pocket.   If they have invested $1,000 in the Staging (for a vacant property) – they still come out $3,700 ahead. When a house sells for $10,000 MORE – the Seller gets $9,400 MORE less the Staging investment than they thought they would.  When a Seller puts updates or improvements in to the property, that impacts the initial list price where they can recoup that investment to get the house sold.  There is no reason NOT to prepare the house and Stage from a fiscal standpoint because that combination helps the seller net the very BEST sale price.

Sellers need to be educated about the potential income for THEM from the sale.  When they are buying in the same market having more money to purchase is a good thing because it might help them afford the next property or make a stronger offer than another buyer.

When you as their Realtor can turn around and promote the fact that you helped your Seller net even MORE from the sale of their house – do you think that might translate into Referrals and MORE money for you?  Absolutely. Think long term.  Think about your Sellers and who they know that need to sell for the MOST possible.  Having that focus will reap rewards with more business versus the agent that just puts the house up for sale, vacant or visually unappealing, and says a prayer that the house will sell fast because of low inventory.

Staging in a hot market does make sense – it makes Dollars and Cents!
 
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For help getting your house or listing Staged to sell - call Jennie at (303)717-7918.
Over 2,700 houses and over $1Billion in real estate Staged since 2002!

Wednesday, February 19, 2014

Friday, February 7, 2014

Should You Stage or Let it Go? by Jennie Norris - Sensational Home Staging

Should You Stage or Let it Go?
By Jennie Norris, ASP Master®, IAHSP-Premier®, ASP-SRS®, ASP-REO®
Owner, Sensational Home Staging
Denver Region’s Premier Home Staging Resource


Seller you got to let me know
Should I Stage or Let You go?
If you say that you are fine
Your house will sit a longer time
So you got to let me know
Should I Stage or Let you Go?

It's always please oh geez
A buyer knows just what they see
Your want your house to sell like that
And you want it off your back
Well come on an' let me know
Should You Stage or let it go?

Should I Stage or let you go now?
Should I Stage or let you go now?
If I go you will be sad
An' if I Stage you will be glad
So come on and just be bold
Get it Staged and get it sold!

This classic 80’s tune by The Clash was on the radio recently and lyrics started changing in my head as I thought about the power of Staging. Nationwide, the real estate market is not as swift as it was this time last year because there is more inventory available and more people are able to enter the market because of gains from last year. Coupled with rising interest rates and last year’s Sellers market is been replaced by a more traditional market. As much as we know about how Staging helps a house sell – it is still befuddling to me that Realtors will put a house on the market when it is really not ready to show.

Staging is an up-front investment to maximize the rate of return on the sale. It’s a marketing and financial tool to ensure a seller gets the MOST for the sale of their house.

FACT: When a Seller does not invest the time and dollars to Stage their house for sale, they don’t keep the money they did not spend. They LOSE it on the backend with either a lower starting list price, or a lower offer, or price reductions! And the loss they take is usually 10-20 TIMES the Staging investment! A typical Staging consultation ranges from $125-$450 in most markets. When this detailed summary can help a Seller net 5-20% MORE from the sale of their house, don’t you think it is a smart investment? Staging Vacant houses is also an investment up front that helps the house sell sooner than later. 

The investment in Staging is always less than a price reduction - or lower starting list price!


Realtors: Your Stager makes you more productive, makes you look more professional and takes the time you don’t have to work with your Seller. And your Stager can be a source of referrals for you too – this past year I gave out 8 referrals for listings or buyers to partner Realtors as a way to say, “Thank you” for their business. I don’t expect anything in return except to continue to work together.

Sellers: Your Stager helps you know exactly what it will take to make your house appeal to the MOST buyers – and therefore get the best offer. Don’t be afraid to have someone come in and help you. There is nothing “wrong” with how you live in your home – but you are selling your HOUSE – not your home – and that requires being able to step back and consider your property through a buyer’s eyes.

So don’t sit on the market longer than you need to with a house that does not show as well as it could. Stage it – and get it SOLD for the best price!

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For help getting properties in the Denver region Staged and SOLD give Jennie a call - 303-717-7918 or 888-93-STAGE.  www.SensationalHome.com

Saturday, February 1, 2014

Sensational Home Staging Success - Arvada Property!

Check out the transformation of this property for sale! Staging helps update the look of this house - we Staged all areas except the Master Bedroom and bath because the sellers were still living there part time. Overall - bringing in updated furniture and d├ęcor plus pops of color take this property from dated to desirable!