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Wednesday, March 9, 2016
My House SOLD for TOO MUCH MONEY
Jennie Norris, ASP, ASPM, IAHSP- Premiere, BTS, REO, SRS
Owner, Sensational Home Staging - Denver Region's Premier Home Staging Resource
Have you ever heard those words come from a Seller? Neither have I. And yet there are Realtors and Sellers that believe they don’t have to Stage – the market is HOT and the houses will sell anyway. . . so why bother?
Think about it.
Staging helps houses sell at the very BEST price and that means in a HOT market the house can sell for well above list price.
Is that a bad thing? Why do some Realtors decide to not encourage Sellers to Stage their houses and just put it on the market knowing it WILL sell . . . and leave money on the table for their client?
Is it up to the agent to LIMIT how much the house will sell for and not allow the seller to get the MOST from the sale?
What about the Fiduciary Responsibility part of the Realtor code of ethics?
I had an agent tell me recently that he did not need to Stage properties in a certain price range because they sell fast and get multiple offers – and (here is the kicker) by NOT Staging these in-demand properties, he was helping control the real estate market from going out of control.
To that Realtor I would say, “You are not doing your job.” A Realtor’s role is to get the MOST for the sale of the house. It is not up to the Realtor to decide FOR their seller that they don’t have to prepare the house for sale and limit the potential sale price. To me that is a lazy Realtor that does not want to put the time and effort into properly presenting a house for sale because it does take time and effort to Stage. They advise Sellers they don’t have to do a thing because the house will sell – and it does. But not at the best price. Just because a house “will sell anyway” does not mean it does not need Staging.
And to top it off – these types of Realtors are limiting their OWN INCOME! Since they are paid commission on the final sale price of the house, an agent that does not include Staging to help their seller net the MOST from the sale, is also limiting the amount of commission earned from the sale.
Is any of this smart business? NO.
Staging helps houses sell for more in any market – Hot, Slow, Appreciating, Depreciating. It is a proven fact. It makes me scratch my head when I still hear agents with limited thinking and beliefs about Staging.
In this day and age where many buyers are cash buyers, appraisals and loans are not needed so when a house is bid up it is not subject to appraisal value discrepancies or loan approvals. If a buyer does get an appraisal and the house does not appraise at the higher price, the buyers come to the table with cash. It is happening all over with low inventory and high demand for houses. Eventually the market will normalize and bidding wars will not be happening. Agents that are used to incorporating Staging as a standard listing tool will be poised to capture even more business.
Thankfully there are plenty of Realtors that understand the marketing strategy of Staging a house to ensure it does get the very best offer. I just had a house we Staged sell at over 10% MORE than list price – and the list price was at the top to start off. Should that Realtor have kept the added $45K from her sellers and not make the added $1,200 in commission? Smart Agent. Happy Sellers.
The bottom line is Stage it before you List it – and get the very BEST price for the sale.