My most recent clients have had their property on the market in downtown Toronto for almost a year. Properties like theirs just don't last long in downtown Toronto when priced right.
Well this property was listed at market value, way blow market value and until just recently, just below market value. So what is going on you ask.
Well, the property was updated for the client's very eclectic and colourful taste. The updates where made using a professional designer but they really pushed the envelope.
My clients however are very savvy and figured they would have to invest at least $20,000 to make the property more marketable. They hired one of the best Realtor teams in the city.
Unbelievably these Realtors told my clients they did not need to change anything. They then listed the property below property value...but $20,000 higher than they wanted...because the owners insisted. Well, the property got a grand total of 8 viewings during the whole time it was listed.
I did not see the listing so I don't know what the Realtors were doing to market the property...my guess is not much! Within 2 weeks of listing they insisted the owners drop the price by $20,000. They did...and nothing. I swear the Realtors must have been hiding the property. 'Fire sales' go quick in downtown Toronto...and this property had no fire...just some poor selections in design which were easily changed.
The property has had 4 subsequent listings...I saw the last two...you are all familiar with the terrible descriptions and incomplete details...well this one had that in spades. The owner even insisted photos be updated and they never were...but I'm not talking about the Realtors in this post (that will be the next one!); I'm going to tell you about the 'home stagers' these LA's brought in.
2 different LA's brought in 2 different home stagers. The owners were eager to make changes (as I mentioned above...they were ready to invest $20,000 to prepare the property).
So what did the stagers suggest? Paint. That's it pretty much. Oh, they put an ill-fitting dark gray table cloth on the dining room table with a few place settings. HUH?!
These stagers are very obviously just Hobbyists. I didn't ask if the stagers suggested the paint color (yes, just one paint colour)...but it is an eggnog yellow (baby poo to my painter) and it is everywhere! The baseboards, trim, doors all look like eggnog.
I guess the owners painted the main floor 'eggnog' as advised by the first 'stager' ...then another 'stager' came in for the *next* LA and said to paint the other 2 floors the same.
This terrible experience for my clients is an excellent example of why a person who has just taken a 3 day staging course is NOT a professional but a hobbyist.
If you take a 3 day course and love it...then get yourself in to an interior design course at your local community college or some other accredited training facility and learn the theory, get some practical experience and build a reliable network of trade only sources...then put up your website and call yourself a professional!
Too many people have no talent for this work and they are screwing around with homeowners investments.
- If you were thinking about getting in to the stock market...would you take a 3 day course and then start investing people's money? Of course not...so why would you think it is any different with home staging?
Well, now the property is in my hands and work will be started next week to properly prepare the property.
It won't be for a couple of months before I can post before and afters...all work must be completed then the property staged and sold...but you will not believe the 'professionaly staged before' photos I have to share with you! They are by far the worst examples of 'staging' I've ever seen. Whomever these hobbyists are...they should be ashamed of wasting so much money that was not theirs to waste! Don't even get me started about the LA's!
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