Can Small Changes make a big difference? Absolutely and here's the proof!

Parts of Charleston are innundated with real estate inventory.  In one particular subdivision of North Charleston there are currently 131 active properties.  The average DOM for existing homes is a whopping 136 days!  This particuarly property had been on the market since 02/08/07.  After expiring and relisting with a new agent (one of my best clients) I was called in for a staging consultation.  The homeowners decided they didn't need staging.  It was one of those, why spend money on a house we are moving out of situations!  (Dont you just love those?) Finally the agent and I worked together to come up with a bare bones staging project that she was going to pay for.... This always makes me nervous - particularly in owner occupied homes.  

You can see the results in this blog Can small changes make a big difference? You decide....  We limited ourself to one room, the biggest bang for the buck and overall the elephant in the room (if you will). 

Anyway - This home finally reflects the status change in MLS today to under contract.  It will be closing on the 18th of April.  Let's check out the statistics for these small changes (less than $500). 

Listed on 02.08.07

Staged on 02.13.08

Under Contract on 04.02.08

-----------------------------------------------------------------------

Average DOM for neighborhood - 136 Days

DOM prior to staging - 327 days

DOM after staging - 52 days 

-----------------------------------------------------------------------

So, can small changes make a big difference?  Absolutely!  The proof is in the numbers!

 
Post is included in group: Stage It Forward...
Post is included in group: The Art Of Marketing You
Post is included in group: South Carolina Real Estate
Post is included in group: Services for Real Estate Professionals
Post is included in group: Real World Home Staging for Newbies

13 Comments on Can Small Changes make a big difference? Absolutely and here's the proof!

Just shows how well staging works.  Great post.  Have a good evening.

J.

04/02/2008 09:44 PM by Jeff Kessler ABR,GRI, Texas 512.801.5666 (Keller Williams Realty)


great job, the house looked great and i am happy that you were able to sell it a little quicker

04/02/2008 09:46 PM by Dave Woodson (Indigo Financial Group Inc.)


Melissa - I just love hearing these success stories from staging!  Great post and keep up your success!

04/02/2008 09:59 PM by Justin Williams - Loan Officer (Prosperity Mortgage)


Absolutely the best $500 they ever spent! Its hard to argue with these numbers...

04/02/2008 10:15 PM by Bevin Googer ~ www.StagingAndRedesign.com (First Impressions Home Staging and Interior Redesign)


Jeff - Thanks!  It surely does, doesn't it?  I love it when a good plan comes together!

Dave - Thank you!  Yes, shaving more than half the average DOM off is great, especially when it had already been on the market a year.....

Justin - Stats are the best way to help show consumers that staging works.  I love it when we can show it in black and white!

Bevin - actually the agent paid for the work.  She does that from time to time because she KNOWS it works!  We have an excellent track record to prove it. 

04/02/2008 10:23 PM by Melissa Marro www.StagingAndRedesign.com www.RedesigningCharleston.com (First Impressions)


Oops - missed that detail in the post. Well she will get her money quickly! Of course she knows it works :)

04/02/2008 10:27 PM by Bevin Googer ~ www.StagingAndRedesign.com (First Impressions Home Staging and Interior Redesign)


Melissa - I have got to keep better statistics.  They really make a dramatic point.  Congrats on the quick sale. 

04/03/2008 07:49 AM by Maureen Henry - Rockland Home Staging (www.rocklandhomestaging.com)


Melissa - great job.I'm always amazed at how big an impact a tight and cozy conversation grouping makes. I bet buyers never sat in that room before and now it gets lots of time. I'd sit and consider the home simply because you made it look comfortable.

On another point, 136 days is short by our measurements.  We usually disregard the average days on market when pulling stats and focus on the price range and neighborhood. The results are often eye-opening: even if the market time is 100-150 days, pockets of homes is certain price ranges will have much higher avg DOM, making for an easier sell. Careful targeting is one of the keys to a successful staging business.

 

Happy staging

Thomas 

04/03/2008 09:41 AM by Thomas Scott - Showhomes (Showhomes)


Melissa ~ That's great!  Seeing your previous post refreshed my memory of that one.  Great statistics too!

04/03/2008 09:54 AM by Kathy Passarette, L.I. Staging/Decorating (Creative Home Expressions)


Melissa, obviously your Realtor has a lot of well placed trust in your ability to increase the marketability of the homes you touch.  It may be nerve racking to you, but this is a very high testimonial to you in the form of her actions.  And I say good for you that you have developed that trust. 

04/03/2008 01:37 PM by Gary Barnett Home Matters, Home Stagers, Indianapolis (Home Matters)


I remember this project from you earlier post, Melissa.  As a "first impression" room, staging it was key & your changes made a huge difference.

Kathy

04/03/2008 03:06 PM by Kathy Riggle Houston Home Staging-STAGING SMART NSOLD (STAGING SMART N SOLD)


Bevin - Yep... with a short sale she'll be getting it very soon. 

Maureen - I have to get better about compiling them somehow... I have all kinds of great stats, now what to do with them?

Thomas - There are so many homes for sale in this neighbhorhood they are all experiencing a glut of competition.  That's why this agent knew staging would make such a big difference.  You are right about how important a good sitting area in a living room is.  It needs to feel like a room you want to spend time in if you expect someone to buy it!

Kathy P. - Thanks!  I love great stats!

Gary - Yes, sometimes I am amazed at her confidence in my abilities!  It is extremely flattering.  Thankfully we have a very high success rate & she is great at educating the clients before we do the work so they are on board - making things even more successful.

Kathy R. -  This was the only living space in the home, that made it particuarly important! 

04/03/2008 07:06 PM by Melissa Marro www.StagingAndRedesign.com www.RedesigningCharleston.com (First Impressions)


Again, congrats Melissa. You always do fine work with on an occupied or a vacant.

04/13/2008 10:34 PM by Tanya Venable, Anderson, SC/Spartanburg/ Greenville, SC/ Home Staging (Fresh Eye Designs)


Leave a response…

Name:
Notify me of new comments:
Comment:
What does the graphic say?
 
Home Stager: Melissa Marro www.StagingAndRedesign.com www.RedesigningCharleston.com (First Impressions)
Melissa Marro www.StagingAndRedesign.com www.RedesigningCharleston.com
Charleston, SC
More about me…
First Impressions

Office Phone: (843) 822-2622
Cell Phone: (843) 822-2622
Email Me

Links

Tags (Tag Cloud)

Archives

RSS 2.0 Feed for this blog
ATOM 1.0 Feed for this blog

Find SC real estate agents and Charleston real estate here on ActiveRain.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
© 2007 ActiveRain Corp. All Rights Reserved