Friday, May 26, 2017

I Want to Live There

I Want to Live There

Staging your home for sale is meant to evoke emotions so that a buyer can envision living in the house.  Yesterday, I saw this first hand as my two and half year old grandson sat next to me as I was looking at a staging of lakefront home.  My little guy exclaimed "What a beautiful house!  I want to live there."  My grandson actually told me the only thing he wanted to take from his house was his cookie monster hooded towel.
Now if staging can effect a two year old that could n't care less if there are blocks and toys spread from one end of the family room to the other, imagine the impact it has on an actual buyer.

Seller's Market

Today many real estate agents feel that because it is such a hot seller's market that it is unnecessary to stage a property and a waste of money.  Agents in our area are scrambling for listings.  Research shows that the age of today's average buyer is between 28 and 45.  Most of these buyers seek move in ready property.  Move in ready means they do not have to take down wallpaper, paint walls and do a lot of updating. a well staged home can start a bidding war on a home as well as an even quicker sale.

Offers over asking

Recently I spoke with a local real estate agent that got an over of over $70,000 over list price.  How did this happen?  Because this agent knows that simple yet effective updating to kitchens and baths can result in a quicker sale.  Imaging how happy the seller of this property was to receive over list price and over doubling the cost of their investment. 
The buyer was happy too because now they owned a move in ready property which they can enjoy for years with renovating.
On a Facebook group for home stagers there was a stager that staged a home that received a whopping $200,000 over asking.  The buyers were willing to pay this because in a letter to the seller, they said it was the first house they looked at that felt like home.  Their little girl fell in love with "her room."  The wife saw herself sipping tea on the patio.

Leaving money on the table

CEO of the Real Estate Staging Association, Shell  Brodnax, says that many sellers do not see price reductions as losing money since the seller does not consider it  "real money."  However, it can become very real indeed if as a seller, you, invest in professional staging.  Staging is a win for everyone.  Buyers are happy because they have their dream home.  Sellers are happy because a well staged home results in a quicker sale often with bidding wars.  Agents are happy because a beautiful staged home means less marketing budget for the agent and higher commissions.  Stagers are happy because they helped everyone in the process.
Failing to stage a house even in a seller's market is leaving money on the table.  Staging can fit into almost everyone's budget.  Starting with a staging consultation and following recommendations can have a great impact.

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