It’s your money, right? Did you ever stop to look at the math around real estate transactions?
Say you want to sell your home in January for $300,000. In scenario A, you bring in Kim Slade from Staging Impressions to prepare your home for sale. The place is ready and it looks its very best, much like a model home. Sure you had to invest some money but you are confident you will sell faster and for a higher price because of Kim’s staging services. You have a good Realtor who is willing to market your home and promote it well. An Open House is advertised and scheduled for this weekend right after the home has been staged. You and your family move to your in-laws for the weekend to keep the house in show ready state. The house is well received at the Open House and had thirty visitors. Realtors heard about the house and there has been steady showings for the last week. You receive a cash offer for $315,000 the following weekend. It was an intense week, but the house is sold! And above asking!
In scenario B, still a $300,000 house for sale in January. The owners decide to list the property without staging or trying to prepare the house for sale. They do only the bare basics – doing the dishes in the kitchen and making the beds. Clutter is an issue in this house. Delayed maintenance is visible and requires attention. Paint colours are very personalized. Furniture is oversized and does not flow well to emphasize the strong points of the house. Open house is scheduled. Twenty visitors – minimal interest. Open House is again booked for the following weekend. The results are similar. A few scattered showings but no offers. March is upon us. Realtor wants a $20,000 price reduction, now listing at $280,000. More Open Houses and one low ball offer that is rejected. End of April and there are no offers. Realtor suggests another price reduction of $20,000. Owners will not and decide to call Kim to get there house staged and show ready. Another Open House with twelve visitors. Excitement and encouraging remarks abound. Realtors start ringing and showing the house. One more week passes and an offer for full asking price. Accepted at $ 280,000, a full twenty thousand below what they wanted, but at least it is over.
Selling a house is a stressful time financially. All of us would prefer scenario A, I would imagine, keeping the other $20,000. It is always about timing. Call Staging Impressions to have your home staged first, then sign on with a good Realtor and set up the first Open House for immediately following Home Staging. If you can, move out of the house for the weekend to allow realtors to show the house as much as possible and allow prospective buyers to view at the Open House. Prepare for multiple offers… it’s a very exciting time!
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