Local Real Estate Agent teaches home stagers how to use STATISTICS to create relationships.

Last Friday our local RESA chapter met with Matt Poole of Carolina One Real Estate to discuss how home stagers should be presenting themselves to real estate agents to close the deal.  Matt and his partner Randall Sandin are two of my best home staging clients.  Every single listing they take, we are automatically called out.  The home is consulted on or staged prior to it going active.  Sellers are encouraged from moment one to listen to our suggestions if they want to sell at top dollar in the shortest amount of time possible.  Matt & Randall frequently use their success in selling other properties during the listing presentation as a way to showcase how they differ from other agents - often within their own real estate company.

As Matt discussed the process, he pulled out copies of recent transactions and their comperables from MLS.  He then handed a copy to eash stager at the meeting.  Going through the four properties, I was shocked and astounded at the statistics that I was NOT using.  (Anyone who knows me, knows that I love statistics.  I nearly fell out my chair when I saw some of these.)

Property 1) Occupied property - currently contingent.  Listed for $238,000.  Consultation provided and advice heeded.  Contingent within 6 days.  Estimated price per MLS $238,000.  Priced right on track.  No big surprises here.

Property 2) Occupied property - Listed $275,00.  Sold $265,000.  DOM 16 days.  Estimated list price per MLS $247,000.  Estimated sold price per MLS $237,000.   Seriously?? That's a whopping $28,000 over estimated comps!! 

Property 3) Vacant (staged) property - Listed $550,000 (Matt stated clearly that this property was overpriced.  It had been vacant for over 2 years with another agent prior to staging and listing with Matt.  Sold $475,000.  DOM 167 - OUCH RIGHT?  On the surface, this is a property that I would normally say, "can't win them all".... then Matt continued with statistics....... Estimated list price per MLS $432,000.  Estimated closed price per MLS $404,000 - Uh.... did I read that right?  That's $71,000 over recommended sale price.  (Yes, it did appraise.)

finally... Propery 4) Vacant (staged) property - Listed $350,000.  (This was a hard sell.  The homeowner was not on board with staging, but Matt gave them the choice.  Reduce the price or stage the house. They were firm that they would not reduce the price.  They didn't need to sell.  They would wait it out.)  Sold $350,000 (muliple offers - full price sale).  DOM 31.  Wait...... I'm not done..... Estimated List Price per MLS $238,000 (that's not a typo).  Estimated Sales price per MLS $228,000  I'm not kidding here.  It sold a full on $112,000 over estimated selling price - nearly 30% more than it should have been listed per comps.  A very similar property, (both had views, both were 4 bdrms 2 bath, both approx 1600 sqft) that was not staged, sold only a few doors down for $267,000 6 days earlier.

I'm the first one to say that I think agents should not over price their listings.  If the home is not properly priced then it likely will sit on the market and take reduction after reduction.  Staging is only one piece of the equation.  With that said.... I'm more than a little floored myself with the difference in comperables between the staged and non-staged properties.  Even in 2011 in the Charleston, SC market, staging creates higher offers. 

Our goal is to create a measurable, marketable difference.  I would say that we successfully did that in these 4 properties that our agent showed us today.  I think it is also clear why he chooses to use our services!

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Melissa Marro, a published artist, now turned staging advocate and national speaker speaks her mind about real estate and the home staging industry.  In her 'no holds barred' approach, audience members find real answers to the industries pitfalls and learn how to overcome them with tried and true information and guidance.  With marketing as her passion, she turned a small home based business into one of the nation's largest home staging and training facilities.  She now operates as the CEO of First Impressions Home Staging & Interior ReDesign as well as an instructor for Staging And Resign and regularly speaks at the StagerList Expos and Real Estate Staging Association (RESA)'s trade events.

For more information on having Marro speak at one of your real estate functions, please contact her at 843.822.2622 or email at marro.melissa@gmail.com

If you would like Marro's team to provide information on staging a property in the state of South Carolina, or the Greater Charleston Area, please visit www.WeStageSC.com, email marro.melissa@gmail.com or call 843.822.2622.