My partner and I have worked together in residential real estate sales for over 25 years. In the mid nineties my partner had an opportunity to join a large commercial real estate broker, which he did. After five years he decided he would rather work with residential consumers and rejoined me in residential real estate sales in central Toronto.
One of the first comments he made was how much the market had changed and how all homes for sale were so much more ‘staged compared to only a few years earlier. This was about the time the ‘Martha Stewart school of proper living was just beginning. Since then, it has become a prerequisite to have your home staged for sale prior to placing the for sale sign on the lawn.
Todays demanding and short-for-time buyers will simply turn around and go look at the next home if the home they are previewing does not match their preconceived ideas of the perfect home.
According to Stagedhomes.com unstaged homes spent an average of 22 days on the market. Those staged by a professional lasted only an average of 11 days on the market.
The staging industry also makes big claims for staging: Unstaged home prices averaged $518,820. Comparable staged homes sold on average for $557,271, a 7.4 percent difference.
In a way, staging a home becomes a free expense since, in the majority of cases, the seller recoups all the money spent and receives a significantly higher selling price.
Barb Schwartz, author of Home Staging: The Winning Way to Sell Your House for More Money, makes an even bolder claim. According to Schwartzs recent figures, staged homes priced under $1 million sell for 10 percent more than comparable unstaged homes. Staged homes listed for $1 million-plus sell for a 20 percent premium, she says.
Staging expert Peggy Selinger-Eaton offers these tips to do-it-yourself stagers:
- Less is more: Remove clutter and use a few wisely chosen accessories (candles, fresh flowers, crystal) to beautify your home.
- Bedrooms should have beds: If youre a bed short, use an inflatable mattress and some boxes to create a faux bed.
- Light and more light: Raise window blinds and remove screens from windows to let in as much natural light as possible.
- Modernize fixtures: Brass and glass light fixtures are dull and should be hidden or replaced. Affordable new lampshades will minimize their appearance. Chrome, iron, or brushed-nickel fixtures give a modern look.
Disguise furniture: If your couch looks shabby, disguise it with decorative attention-grabbing pillows and throws.
Create life: Dining-room and kitchen tables should look as though youre ready for guests to arrive. Set out your favorite dishes and napkins to make it look inviting.
Remember that your potential buyer comes fully armed with knowledge and high expectaytions. If your home does not fit the bill, they will pass you buy and go elsewhere.
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