Lise Desormeaux's Blog

While enjoying a career in Home Staging in Atlanta since 2002 I can’t tell you how many times I’ve heard a seller say they didn’t want to spend money on home improvements because a buyer might not like what they select.  This is a very big mistake if your home needs updating.  Leaving the buyer to handle the time and expense for updates in a home will cost you more money then you can imagine in the end, guaranteed.  

Look at it this way, your house sits on the market because the updates needed turn off buyers looking at your home.  Keep in mind 90% of people can not envision the changes on their own, therefore they can’t imagine the updates you think they’re better qualified to make.  Yes, you sacrificed the price to accommodate the updates but this is what happens.  

You allow for 5K in your listing information to make up for needed repairs and updates.  A buyer can’t envision the changes.  Qualified buyer after qualified buyer turn down your home.  Months pass or maybe years and mortgage payment after mortgage payment pass by too (don’t forget taxes and insurance and maybe PMI).  You finally get a buyer who wants 30K less then your target price.  You take the deal, after all what other options do you have?  

Let’s see, 2,000 dollars a month on mortgage payments over months or maybe years.  30K less then your target price.  Oh, and let’s not forget the many price reductions you made because your house wasn’t selling.  This money adds up to nothing but a bad approach.  

Make the updates and make them with confidence before you put your house on the market.  If your the seller I just described risk a speeding ticket (disclaimer attached :) to get to your nearest home improvement store now.  Let’s say you need new faucets for the kitchen and bathrooms.   Ask 2 people from the appropriate department which faucets sell the best and Voila, you have the one most people will like.  Follow this easy step for all your updates.  It’s that’s simple.

Please Mr. Seller, stop feeling fearful about choices you will make when help is just around the corner.  You have nothing to fear but fear itself and you have plenty to lose if you don’t.  Get aggressive, make the updates, hire professionals if you need to but get the updates done now.  Your realtor, banker and your bank account will love you for it.  You may even feel some love for this advise when your home sells for top dollar in less time.

Hope this helps!  Lise

RMR Home Staging

http://www.RMRHomeStaging.com

Atlanta’s Premier Home Staging Company since 2002 Home Staging Atlanta and the World!

You might also be asking why home staging is so effective if you've experienced it and the answer is “It’s all in the eyes of the beholder”.  The perceived value of a home when staged is increased dramatically due to the buyers perception of value of a properly package product.  Just as retailers so innately understand the value and return on investment of a properly packaged and marketed product, so should home sellers of such a highly valued asset.

HERE IS THE PROOF THAT STAGING A HOME FOR SALE WILL GARNER A HIGH RETURN ON INVESTMENT.

On The Home Seller’s Radar: Home Staging Survey August 2007

http://blog.homegain.com/home-seller-radar-home-staging

*Please note all listed improvements are within the scope of work for staging companies.

In August 2007, HomeGain real estate took a survey of 1,000 real estate agents throughout the US.  Agents surveyed report the overall prices of a 3bd/2ba (3 bedroom, 2 bathroom) home after spending between $5,000-$8,000 on home improvement and staging efforts can result in the following price increases:  in the West, as high as $22,762; in the East, as high as $23,532; in the South, $21,470; in the Mid-West, $20,279.  All of those figures reflect over a 150% return on investment.

With Luxury homes the return is much higher and always covers the cost of the staging service and part, if not all, of the agents commission.  For example RMR staged unit 20AB, a 5K square foot condominium in Park Place, that was listed for 48 months vacant.  The only offer received over that period of time was 900K when it was listed for 1.35M.  The seller refused that offer.  After such a long period of time the seller decided to home stage.  Within 30 days 3 offers were received and 2 of them all cash.  The unit sold for $1.25M which of course is 350K more then the rejected offer.  The accepted contract was 1 of the 2 all cash offers.  This is verifiable proof that in this case both fees, agents and staging, we more then covered.  Mr. Bolton the seller was so pleased he asked if he could adopt me....of course I was flattered but already have parents.