Home Staging---Optional or Absolute necessity?

By

Carol R. Ellis  Luxury Domain to Home Stage

Home Staging on the East Coast is a relatively new concept in the real estate marketing arena.  It is not new to the West Coast where there is so much real estate on the market that differentiation is absolutely necessary to make a home desirable to potential buyers above all others.  As with many other trends the idea has drifted slowly, and I mean slowly, to the East Coast just in time to be implemented in the current glut of both new and existing homes on the market.

Existing homes must now compete with new construction companies whose inventory is increasing daily and whose buyer incentives are also increasing daily.  Upgrades are relatively inexpensive for the builder, compared to the price existing homeowners have to pay, to have the upgrades done to prepare a house for sale.  Granite countertops, high end appliances and hardwood floors, UV glass in windows and, on and on, are just a few of the buying incentives presented by builders to prospective buyers who can always demand even more amenities and probably get them.  Builders and contractors can reduce the profit margin much more readily than can the homeowner whose life is vested in the house in which they live.

Where does that leave an existing homeowner with a house on the market and a life on hold until the home is sold?  In a previous article in Real Estate Weekly of June 14, 2007 (Charlottesville, Va.) I outlined what staging an existing home entailed.  It is about cleaning, de-cluttering, depersonalizing, furniture rearrangement, repairing and finally updating and accessorizing.  Many homeowners, even if they are aware of the benefits of home staging, feel that the upfront cost of 1%-3% of the selling price is more than they want to pay to have the home prepared for sale.  Before a homeowner calls a Realtor to list their home for sale they need to call a professional stager to prepare the house.

A Realtor's first impression is extremely important because that is where the pricing strategy begins.  The homeowner has a notion of what their home is worth and what they want to establish as an asking price.  What is the Realtor's impression when they come into a home in complete disarray, cluttered, with worn carpet, dirty windows, refrigerator completely lost under the kid's artwork and photos, pet stuff everywhere etc.?  Many, if not most homeowner's, idea of pricing gets a reality check at the point where the Realtor tells the anxious homeowner the news that the home will not sell at their asking price and that the price has to be adjusted downward.  What you see in this case is that the Realtor's perception of the worth of the house is exactly the same as a prospective buyer's perception of the worth of the house. It's called the first impression and you don't get but one chance to make that vaporous first impression.

I have heard time-and-again from home sellers that they believe the Realtor wants a lower price so they can sell the house easily.  I've said it myself (in the long ago, distant past when I did not understand real estate.)  I've heard sellers say that the Realtor's suggestions to "fix up the house," were just so the Realtor would have an easier job selling the house.  WRONG!  The Realtor knows what the house will sell for given the condition at the time he/she views it for the first time.  The Realtor is actually the homeowner's first sale. The Realtor's is the first, first impression and it is from a professional who knows.  This brings me to when the home needs to be staged.  A home must be, not should be, staged as soon as the homeowner makes the decision to sell the house.  Staging must be done before the Realtor sees it, before a listing agreement is signed, before the mls pictures are taken, before virtual tours are done, open houses conducted or before showings.  The process is like the homeowner going to "HOME SELLING BOOT CAMP."  The good news is that the homeowner and the Realtor can both have a professional stager for support in the very important home selling process.

Times have changed, the market has changed, economic conditions have changed and the competition has changed.  Home staging is now a marketing necessity for Realtors and a selling necessity for homeowners. Existing homes have to be spiffed up when pricing is in competition with new homes in the same range.  It is not an option any more it is an absolute necessity.  It is also a necessity when another existing home in the neighborhood is for sale in the same price range and it has been staged.  The staged home will sell sooner than the unstaged home.  The reason is that home staging validates equity by professionally showcasing the home's worth.

In summary, professional home staging facilitates the home selling process by making the best first impression, and lasting impression, possible to validate the  selling price of the home to the buying public.  In today's buyer's market there are so many choices  for individuals to choose from that a distinctive home that welcomes the buyer in and makes them feel at home will be the emotional connection needed to get your home sold.