Sellers Market Vs. Buyers Market -Why Taking The Time To Stage In Any Market Is MONEY In Your Pocket
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A knowledgeable top agent & professional stager can assist in the selling process as a TEAM to prepare a home specific to the market and the sellers goals.
BUYERS MARKET: High Inventory & low number of buyers looking.
Staging benefits home sellers in this type of market by properly preparing their home in a way that makes them stand out over the saturated competition. You're essentially controlling the perceived value to buyers by making strategic adjustments prior to hitting the market. This results in more foot traffic from interested home buyers. It may not necessarily result in multiple offers during a buyers market but it will significantly reduce the number of days the home sits on the market, and help increase your chances of getting as close to list price as possible.
Buyers are looking for the BEST HOME they can get for the LEAST amount of money. So if your home presents better than the competition and in the buyers market, you'll be sold first over the home that chose to basic decluttering & cleaning. Proper staging takes it a step further in preparing a home so it's properly prepared in a way that targets a specific buyer for that area, not any buyer contrary to inexperienced agents & stagers.
SELLERS MARKET: Low Inventory & lots of buyers are available.
Staging benefits home sellers in this type of market by taking the time to prepare their home, so it appeals to a wider variety of home buyers. In this type of market YES your home will probably sell quickly and close to list price if you don't stage. However THIS IS WHERE HIDDEN EQUITY CAN BE MADE. What would the results be if you took a short period of time and money to do some key factors that would appeal to more buyers? Typically this is where I've helped most of my selling clients over the past years obtain multiple offers.
From personal experience prior to listing my home I knew I needed up update my kitchens and bathrooms but after investing thousands of dollars into the property I really didn't want to go through the hassle. I knew that it would affect my price but not sure how much. So after an inital no obligation evaluation with Marc he provided me a "list as is price" and "list with those final updates done price" Eric and I knew how to update the bathrooms in a way that would completely transform them without gutting them (as that's what most buyers assume a dated bathroom needs to be gutted)
For our bathroom, we did the following.
-DIY Rustic Custom Mirror Frame $0.00 (Had the wood from other projects) -New Vinyl Floor $150 -Painted Vanity Modern Grey $30 -New Door Handles x 4 $20 -New Counter $90 -New Toilet Seat $20 -Re-glazing Dated Pink Shower Tiles $300*
So as you can see we completely transformed this bathroom in a weekend for just over $600
HOT STAGING UPDATING TIP: *Reglazing is a technique where a professional will sandblast and use a high-quality paint for tiles that will adhere to the existing tile giving it a 100% fresh new look. A good company will come with a warranty against any damage and lasts much longer than a tub surround insert. (Keep this tip in mind for future homes you look at as these principles can be applied easily to your new home)
As you can see Staging is more than "decluttering, depersonalizing & cleaning" TRUE staging will help sellers evaluate the home and highlight areas the sellers can decide if they want to take on to increase their market attraction or even home equity value.
Because we decided to update the 2 bathrooms & kitchen prior to sale in a seller's market we were able to list the home in the highest price point for our type of home in our location. After the videos, pro photos, & online marketing from our agent, this resulted in a FULL PRICE offer in 4 days of listing. Worth the change & sweat equity? We think so!
I wrote about this principle in 2009 in my 1st book Competitive Edge. Working with an experienced realtor that has a clear marketing plan and professionals to help get the job done is so important. I am fully aware that not everyone can take on the tasks of updates however the discussion needs to be had that if you hired someone to do these updates would you still have potential ROI (Return On Your Investment)
GIFT FOR YOU: If you would like to learn more about properly preparing your home and working with the right professionals I would love to gift you a digital copy of my book Competitive Edge. Claim your free copy here from my webpage.
Remember, Not all agents are created equal and it's up to you the consumer to do your research and interview a few. Even if you have an agent in your family, interview others and see who has the tools to deliver you to your buying or selling goals. During my year's staging, I've met many agents and some are absolutely amazing and some are stuck in their own ways. Check out the videos our team creates for our listings which is paired with a SOLID marketing plan.
Real Estate Consultant, Award-Winning Stager, Author, Speaker, Mentor.
Eco Worrier & Homesteading Hippie.