|Posted on June 10, 2011 at 1:15 AM|
There is a common misconception among consumers that Home Staging services come along with an enormous price-tag.
Most of us now realize that the benefits of Home Staging when selling Real Estate are endless. We have all seen and heard the statistics, or at least know someone who has experienced success from hiring a Home Stager.
The problem is that between television shows and the pricing across the U.S., we are left with a general impression that one needs to invest at least $5000 to hire a Professional Home Stager.
In fact, it is simply understood, in the U.S., that one needs to anticipate spending approximately 3% of the sale price of their property on Home Staging services. WHOA!!! That means, on a $400,000 property, a seller should be expecting to pay a Professional Home Stager about $12,000.
I bring great news. No way in heck will you find a Home Stager in Canada who charges anywhere near 3% of your listing price.
Home Staging is GUARANTEED to cost you less than the amount of your first listing-price-reduction.
You may have heard this stat before. But, I will break it down for you. It has been proven over and over again that un-Staged listings and vacant properties do take at least double the amount of time to sell. This translates into more time on the market. Most sellers get anxious after that first 30-day period when there have been no offers. AND, if the property is vacant, more times than not, carrying costs are also adding up.
So, they ask their REALTOR® for suggestions.
And, way too often, the suggestion ends up being a reduction in listing-price. How much?
The first listing-price-reduction typically falls in the range of $5000-$15,000.
This is an age-old technique thrown out there in order to grab renewed interest in a listing, or perhaps grab the attention of buyers only searching for properties within specific price-ranges. Oh, and sure, once you lower the price of a property to below market value, of course it will sell! But, what does that also mean? The seller has lost $5000-$15,000! And, the REALTOR® has also lost income.
I absolutely cannot fault REALTORS® in the Alberta Real Estate industry for jumping so quickly to reduce price. Home Staging is still a fairly new and growing industry in Alberta. And, the truth is, how can one suggest a service that they know nothing about?
Cold Hard Fact: All properties WILL sell....for the right price!
Second Cold Hard Fact: Buyers need to see that the value in your property is a close match to the asking price before they even consider making an offer. A poorly presented property (cluttered, dated, dirty, in need of repairs) usually tells a buyer you are asking too much for it. Even though the value may very well be there, poor presentation blinds a buyer.
Quick Example: One does not usually attempt to sell a dirty, cluttered car with flat tires if it actually runs like a dream.
So, what do the various levels of Home Staging services actually cost, you ask? I will tell you what Revealing Assets’ pricing looks like, and you can be assured that the majority of other Home Stagers out there are charging very similarly.
“Basic Guidance Home Staging Package” - $225.00 plus GST
This is the most sought-after package amongst sellers and REALTORS® alike. It is perfect for the DIY’ers out there who would simply like to be given detailed instructions on how to best present their property for selling. This is completed in occupied properties only, and we work with the furnishings/decor you already have in your property. We spend up to 2 hours with you in your home, fully assessing all nooks and crannies. We discuss with you all tasks that should be completed prior to listing and having your property photographed for listing. We address which items should be packed up, furniture re-arrangement for optimal flow and optimization of available floor-space, accessory/artwork placement, de-personalization required, curb appeal, etc. We will also address any suggested upgrades/repairs/renovations that could be done for a high ROI (return on investment). We don’t want to see sellers wasting any time or energy on things that simply will not bring them any return, or won’t make a difference in the buyers’ minds. We also give you feedback on areas in which you have already excelled with presentation. Within 2-5 hours after your appointment, you receive a full summary of our visit, in the form of an itemized, space-by-space To-Do list.
“We Do It All for You Home Staging Packages” - $395 plus GST (4 hours) and $692 plus GST (8 hours)
We come into your property and transform it into a perfectly show-ready and photo-ready property utilizing only your existing furnishings/decor. We start work on your major buyer-impact areas and work our way through your property, completing all we can in the amount of time we have been hired for. The tasks we complete can certainly be tailored to your preferences, and can include de-cluttering/de-personalizing/furniture rearrangement/packing boxes/moving all excess items into pre-designated storage area/re-purposing of furnishings and decor throughout home/etc. These packages are great for sellers who simply lack the time and energy to prepare their homes for sale on top of their hectic daily schedules.
“Vacant Property Staging/Showcasing” –
$1300-$3000 Monthly (30 days) Furnishing/Decor Rental plus one-time fee of $600-$900 plus GST for Staging Fees
Your actual total investment, of course, all depends on the type/size/structural features your property has to offer. For example, condos will be at the bottom end of these ranges. To determine your actual proposed investment, we come out and walk through your property (1/2 hour), and create for you a Promise for Investment. This process is absolutely FREE of charge and NO obligation to you. Once you decide to go ahead with our services, we head over to a 4000 sq. Ft. Warehouse full of amazing furniture and decor, and choose all of the perfect pieces to highlight the features of your property. We then schedule in the freight company, and can usually have your property Staged within 4 business days of when you decide to go ahead.
So, as you can see, it is TRUE!! Home Staging is GUARANTEED to cost you less than your first price reduction. And, because Home Staging is going to dramatically reduce your time on the market, your stress levels are reduced. Also, Home Staging ensures that buyers are easily able to see the full market value of your home, both in the listing photos, AND in person. So, when you hear that Staging is guaranteed to make you 7-10% more money on your sale, this is where that stat comes from. Buyers do not have x-ray vision, and therefore, cannot see past clutter, dated decor, etc. So, the monetary value they place on your property includes the entire vision, yes, even those doilies.