My House SOLD for TOO MUCH MONEY

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. 
 
Huh?

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.  

Tranformation of Occupied House - Dallas ASP Course - April 2013. "It's not about the money - it's about Creativity"

Check out the latest ASP Staging Course from Stagedhomes.com - Before & After Transformation using only what the homeowner had combined with our students' creativity and ideas! Every room is made more sellable with Staging!

ASP Class - Herndon VA - Staged for Sale

Look at this fabulous transformation using only what the seller had in their house - to create an inviting feeling in each room.  ASP Students are the BEST - and these Sellers were THRILLED with how their house looked! 

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Realtors - Don't Tarnish Your Hard Earned Reputation

Realtors - Don’t Tarnish Your Hard Earned Reputation

by Jennie Norris, ASP Master, IAHSP

Owner & Principal Stager, Sensational Home Staging

There are many articles expressing the need to Stage from a financial standpoint and buyer standpoint, but I have not read any that address this service from a REPUTATION standpoint.


Realtors need to know that Staging listings will help THEM gain market share and keep a great reputation as a successful agent.
It positions you as the Agent that gets the job done. You are the “hero in the hood” and all the neighbors that are watching take notice when the sale goes PENDING.


When Staging is not included – there is a lot at RISK.
Think about it. When a house or product is listed for sale and is NOT presented well and Staged – the house languishes on the market.


This means it will have to have a price reduction in order to respond to the market and buyers. This makes the Seller unhappy.


As the listing agent, you promote YOU as the marketer and expert to get the house SOLD.
You have your signage out front and in the house. You are promoting this property online, and hopefully marketing it using various methods to gain exposure.


When the house does not sell – and sits and sits – this makes YOU as the agent look like you can’t get the job done. Your reputation suffers as a result. This makes you unhappy. It makes your broker unhappy.


Maybe you even lose the listing that you have worked hard to win, hard to market and hard to sell. BUT – the house was not Staged and therefore did not appeal to the broadest audience.


When the house does not sell, your reputation is TARNISHED.
Damage is done. People in the neighborhood that are looking to list their house will not consider you because you were not successful.

It is a high price to pay. And NOT Staging costs you.


• TIME
• MONEY
• REPUTATION


Do you really want to be known in the neighborhood as the Realtor who could not get the job done? Do you really want to have people going through a house that presents poorly with your name all over it?


Staging Recommendations and Resistance
Now I know that sometimes you do recommend Staging and tips to Sellers and they resist. I also know that sometimes you don’t want to tell the Seller the truth about their house because you don’t want to hurt their feelings and risk losing the listing. And I know sometimes the Seller has some pretty odd things in their house that you just have no idea how to eliminate.


It takes skill and patience – and that is where working with a professional Stager can really help.


When you Seller says to you, “I don’t want to spend the money on Staging,” AGREE with them. Tell them you don’t want them to spend it either. Tell them you want them to INVEST their money – in STAGING – because Staging their house will help them get the highest return on their sale.


They either INVEST in time and dollars to Stage up front, or they will lose far more on the back-end with price reductions.


Then work with your ASP Stager – who has statistics and information to help you demonstrate to your Seller that they cannot afford NOT to Stage.


YOUR REPUTATION is at stake
Don’t risk tarnishing your reputation because or resistance or fear. Get an advocate to help you – partner with a Stager who is ready to use their skills and knowledge to get your clients on board.


Make it standard protocol that all your listings are Staged.
Many Realtors I work with will not take a listing if the Seller does not agree to Stage it first. WHY? When the house is Staged it makes your job much easier to market a product that looks great for all buyers. It reduces the time on the market and helps the Seller get the best price possible based on the market.


IF a price reduction has to happen, it is not because you have not used every tool possible to attract a Buyer . . . it is just the market. And when the house does sell, it will still sell at a better price and faster than the marketed un-Staged competition. These are FACTS that have been proven time and again and there is data and statistics available to back the statement up.


And the best part is . . . when you do include Staging, everyone WINS!
Your Seller is happy because they get their house sold in the best time frame and at the best price possible based on the market. You are happy because you are successful, and you’ll earn more commission! And the Buyer is happy because they were able to mentally move in to the Staged house.


Don’t risk your valuable REPUTATION . . . use Staging for your clients. Staging is not just for them – it’s also for you.