Cost of Professional Home Staging – Less than First Price Reduction (One More Time)

In the past, I raised the idea that the cost of professional home staging is much less than the first price reduction after a house has been on the market. 

Let’s look at the facts.

·         Using figures provided by CORT, the world’s largest provider of rental furniture, we can imagine a very conservative first price reduction of 5% on a $225,000 house which equals $11,250.  This conservative assumption is supported by the National Association of Realtors which cites a 10% lower sales price associated with more than 24 weeks on the market. 

·       The average cost of home staging in the CORT example was $4,700 and likely involves renting their furniture.

·         Using the CORT figure, the cost of home staging would be less by $6,550 or 58% than the first price reduction of $11,250. 

Realtors can provide their own calculations based on local conditions to this formula.  My guess is that the result will be the same - the price of professional home staging is much less than the first price reduction. 

Plus, home staging helps sell the house more quickly.  We have numerous examples of Transitions staged houses that sold within the first week or two after being staged such as the Peppergrass and Manor homes presented on our website.  . 

You can also many more examples of how we transform houses into homes at our Transitions Home Staging website – http://www.transitions-home-staging.com.

And who can put a price tag on the value of selling your house quickly and moving on to the adventure of settling into your new home. 

Dwell in possibilities!

Cindy

Dwell in possibilities! With Thanks to Emily Dickinson (One More Time)

We are in New Jersey visiting our newest grandchild, Ashlyn Rose Kelly.  We decided to reprint a few favorite blogs as a refresher for our long time readers and an introduction for our newer readers.

Since creating the “to be continued” blog, I’ve been closing each post with the words “dwell in possibilities.”  I must confess that I borrowed this phrase from the great poet, Emily Dickinson.  I saw her quote and realized that it summed up what I am doing as a professional home stager and interior designer. 

I am most grateful to Ms. Dickinson for her insightful and inspiring phrase.

Regardless of the size or price range of a house, my objective is to find the possibilities in that house.  I am looking for those unique features of that house and finding possible ways to accentuate them for the potential buyer.  I am analyzing those unusual spaces that buyers find difficult to understand upon first glance and finding possible functional uses for those spaces.  In the end, my mission is to help the potential buyer see how they could dwell in the possibilities of this house!

In some cases, the possibilities are obvious and the complementary staging falls easily into place.  In many other cases, my training, expertise and experiences as a stager are really needed to find and highlight that house’s possibilities. 

There is often a point in the staging process when I am not sure that can pull it off.  It has become a joke with my husband when I tell him this may be the one that defeats me.  He laughs because he knows that I will find that one hook or stage that one room which makes everything else fall into place.  So far, I always do!!!  And, each time I am reminded that home staging is always more art than science. 

So, remember what Emily says and . . .

Dwell in possibilities!

Cindy

The Conversation Continues - Frequently Asked Questions about Home Staging

We asked for other frequently asked questions about home staging.  Here is a really good one that requires a longer response.  It has become today’s total blog post.

What are the benefits of home staging?

·         Accentuate the home’s best features and provide a nice, easy and consistent use of space and movement.  The professional home stager focuses on the house curb appeal, focal points, flow, furniture arrangement and accessories.  They decide what is unique and distinct about the house and finds ways to accent those focal points.  They build a flow in the house to carry an even pace from room-to-room.  Most importantly, the professional stager streamlines the furniture and arranges it to lead the buyer’s eye around a room.  Finally, they remove clutter and use an assortment of useful and ornamental items to decorate the house.

·         Appeal to as many buyers as possible.  The Smith-friendly home appeals quite well to the Smith family but not to every family.  The benefit of home staging is that it creates a more universal appeal for the house.  Home staging makes the house more buyer-friendly and much less Smith-friendly.  If done correctly, buyers imagine their best selves in the house. 

·         Sell the house quicker and for the highest price possible.  CORT, the world’s largest provider of rental furniture, estimates with an investment of $3700-$5700 in home staging for a home in the $225,000 price range, a home seller gains a net of $40,000+ and a return on investment exceeding 700%.  CORT also notes that based on 2009 industry data, the average days on market experience of 10.4 months for homes without staging versus 1.35 months for homes with staging.

·         Price of home staging is much less than the first price reduction.  Using the figures provided by CORT, we can imagine the first price reduction on a $225,000 to be $10,000 (4.4%).  This conservative assumption is supported by the National Association of Realtors which cities a 10% lower sales price associated with more than 24 weeks on the market.  The cost of home staging in the CORT example was $3700-$5700 which would be less that the first price reduction of $10,000 or more. 

·         A professionally staged house dramatically improves the pictures for the online listing.  One of the most amazing developments in the buying and selling of a house has to be the online photos and visual tours.  With a professionally staged house, the online photos show a house that buyers can visualize how they would live in that house.  If not staged, the online buyer will either see empty rooms and blank spaces or the lifestyle and tastes of the home sellers.

Keep the questions coming and we will continue this conversation.

Dwell in possibilities

Cindy