Having the Sold sign go up - - Priceless!
In spite of 30+ years of studies and thousands of pieces of anecdotal evidence, some people are still on the fence about hiring a home stager when they decide to sell their homes. Let’s talk about the objections people have to staging based on the home stager’s price.
When I took my staging course with Christine Rae of Canadian Staging Professionals(TM), the subject of how to deal with this objection came up. Trying to be the class clown, I offered this rebuttal:
“I have no problem with what the other stagers charge. They know what their service is worth.”
Christine mentioned recently that she still quotes me on that one in her classes. And, I noticed she quoted my comment in her book, “Home Staging for Dummies” on page 82.
In reality, I would never say something that flippant – well, almost never. The point behind the comment is this. There are various levels of staging which can be provided, and there are also various skill levels among practitioners. Perhaps the less expensive stager is not giving as much for the money. Perhaps they are struggling for business and price cutting to get some work.
You wouldn’t compare the paintings of Picasso to sketches from someone who draws as a hobby. Before you hire a stager, you should dig a little deeper and not compare on price alone.
Another reason someone might think staging is too expensive is because they saw a TV show where the staging bill was $8,000. They might think all staging jobs are in a price range which is only appropriate for a luxury home. For more typical homes, most full staging projects, including all the pre-staging preparation work, should fall between 1% to 3% of asking price. The staging work itself is usually more like 1/4% to 1/2% of asking.
In deciding whether to stage or not, many home sellers neglect to calculate the offsetting savings achieved by selling a home faster. A staged home sells in 1/3 to 1/2 the normal time. This saving is especially relevant for investment properties or when homeowners are paying expenses to keep two homes. The Real Estate Staging Association has a handy calculator which you can use to determine your own potential savings from staging. To the Realtor, a faster sale means less expense for advertising, open houses and travel – not too mention the boost to their reputation.
Staging can save you money, but it can also MAKE you money. Each year Home Gain surveys a large number of realtors in order to rate the modest improvements which can bring a home seller the greatest return on investment. The 2011 Home Gain survey estimates that for every dollar spent on staging you get back $2.99. Interestingly, the other measures found in the Home Gain top ten are all things your home stager will probably recommend or help you with.
Then there is the great relief felt by sellers who avoid long listings, tough negotiations and price cuts by staging their homes. Compared to the modest investment, no doubt they feel that the benefits of staging are “priceless.”
Days on Market = Half the Usual
Selling Price = 5% Higher
Stress Relief = Priceless
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In the Kingston, Ontario region, you can call upon Martha Stanton-Smith of Rearrangements Home Staging for all your home staging needs. Visit the Rearrangements website at http://rearrangements.ca. Be sure to download your free Special Report “Get Off The Home Selling Roller Coaster: 5 Reasons Houses Don’t Sell and What You Can Do About Them.”
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