Continuing the Thread... Contingency, Deferred or Real Estate Developer?

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Continuing the Thread... Contingency, Deferred or Real Estate Developer?

Ok, so I've been reading the blogs... The C-Word- Yep..we're going there...CONTINGENCY! by Michelle Molinari and RE: 'Contingency' vs. 'Deferred Payment Plan' by Tom Scanlon, which I'm pretty sure were sparked by my blog Why is 1% of the home's list price unrealistic for staging services?. I would like to continue the concepts and ideas of both in this blog.

In a comment on Tom's blog he writes,

"The home staging service-menu that is presented to the citizenry of Lafayette is extensive and (no doubt) impressive. So extensive in fact, that the services you now offer go beyond the scope of what we now call 'Home Staging'. The final product/service that you are offering your market is not known as 'Home Staging'. What is being described, is a: "Real Estate Developer". Real Estate Developers have complete control over the project. There are no complaints about the wrong sofa, and there is no controversy over the removal of wallpaper.Real Estate Developers customarily receive payment on a contingency basis. "

Michelle commented back,

"And as far as developers, go, that is exactly what I am, and what we all are. I am developing the concept of staging to exceed beyond what it is presently. I think there is a huge loophole in the system, and I noticed it right away."

So... here's my thoughts on this.

Are we in fact Real Estate Developers? Sometimes I think we are and sometimes I think we are not. In discussing the contingency issue I think it becomes a MUST. I don't know how things work in your personal business but typically when we go into a home we give them a play by play of recommended changes and then provide a quote for doing the work. Sometimes we get to do the work, sometimes the homeowner does the work and sometimes no one does the work - as in it remains undone.

Under a contingency contract I would assume that the work that is necessary would in fact be done. Wallpaper would be removed and fresh paint would find itself on the walls. Things that would remain undone due to budget restraints would actually take place afterall. This should yield a higher sale price - perhaps enough to cover the staging budget. It should also make it more likely that the home will in fact sell - again covering the assets of the stager who did the work and took the risk.

What I would think to be important is to address these costs. If the home was pulled off the market, it would be important for there to be a clause that the seller would in fact owe a certain fee. This would need to be disclosed in the contract itself.

I tend to agree with Michelle in that such a premise could revolutionize the staging industry. I've always been a supporter of get paid in advance. Over a year ago I wrote, in response to Homesellers - I'm not Popeye, so don't be Wimpy, a Craig Shiller post, with Craig - I'll call your Wimpy & Raise some Olive Oil. We began the discussion of getting paid at closing here. I definately feel it is a viable concept. The trick is getting the contract just right. You will need to ask for enough to cover homes that don't pan out and perhaps even more importantly, you will need to control how fast your business grows under such a plan.

A great builder here in town once told me something very interesting... Many business don't go under because they fail, they go under because they grow too fast and ultimately can't keep up.

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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. Selling her successful home staging company in January 2012, Marro is now a full time speaker and instructor for Staging And Resign 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 843.619.1593 or email at marro.melissa@gmail.com

Posted by Melissa Marro ~ StagingAndRedesign.com MarketReadyRealEstate.com on 08/02/2008 10:49 AM

Comments (41)

Originally posted at: Speaking Up about Home Staging: Continuing the Thread... Contingency, Deferred or Real Estate Developer?

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41 Comments on Continuing the Thread... Contingency, Deferred or Real Estate Developer?

AUG

2008

Tom,

I apologize if you get the idea that I disagree with your concept of deferred payment! What I was trying to say was that to me, no matter what you call it, if you wait to get paid until closing it is vital that you have more control over projects that are completed. The homeowner should not have the option to say that they don't want to paint, remove wallpaper or whatever. This, IMO, would have to be done as part of this plan - period.

I do agree that the actual language is important as are various clauses. Everything must be clearly defined. Your deferred payment plan may indeed be exactly what we are looking for. Contingency may have it's pluses and minuses. Through discussion we may even be able to come up with a third plan that incorporates the best of all the plans with minimal risk....

AUG

2008

Hi Melissa and Tom, and everyone else !!!

Well, Sorry I have been out of the convo for a bit.... busy day at work. I'm dog-tired, and my feet are killing me. So, the Lafayette firecracker feels more like a fading sparkler right now.

Okay. Regardless of square wheels or financing vs. services, or the vast history of staging and the mistakes it has seen (that's a thick book), or me possibly being too big for my britches, I am going to contingency stage. Why? Because a Deferred Payment doesn't address the loophole, as I was quoted as saying above.

What is the loophole did I hear someone ask?

HERE'S THE LOOPHOLE:

We sell staging based on stats and phrases like "equity preservation," and "price-reduction avoidance, and "expedited sale".

No promises, mind you...just whiffs of a promise.

Do YOU make decisions based on whiffs of promises?

I don't! I want guarantees. I want it in writing. I want my friggin' money back if I don't get what I expect. And so does every single one of one of us.!

I wouldn't buy the idea staging... not if I hadn't seen the results myself in the decorating and rennovation business. quite frankly.

Think about it for a minute.

The reason we are so gung-ho, is that we know it works. If you were just told about the concept today, You wouldn't buy it either!

I mean, you wouldn't cut a check for a nearly two grand without some kind of PROMISE, IN WRITING.

And if you did make a move for that checkbook, your husband or wife would slap your hand and say WHOA NELLY!

So, the loophole, in a nutshell, is that if staging is marketed as a tool to preserve equity and expedite sales, but we bill it like a decorator, we have an identity crises that SELLERS AND REALTORS NOTICE AND AVOID, unless they are very educated about staging. Educating the Realtors of North America to the power of staging will take a few YEARS. Contingency staging will solve the loophole. Nothing closes a sale like not having to pay until the day you get a lot of money.

___________________________________________________________________

Indeed, as you point out, Melissa, more control over the stage will likely promote better results, which is what I am after. More staging. More people getting their deserved equity. More Realtors thinking of staging for their clients.

The resistance to staging on contingency has a nerve ending that goes deeper than these little quibbles here on A/R (referring to other conversations with other stagers) about the foolhardiness of pursuing a contingency based business plan.

I believe this is truly about the fact that most stagers are not in a position to do this No-Moola-Til-U-Sell gig, for a variety of reasons that have little to do with front-money or contractual loopholes. I think there are a majority of stagers right here, reading this right now, who feel even by DISCUSSING THIS, I may be hurting their business, or defiling Staging as an industry.

Sorry.

I am willing to piss off my peers, clearly, but not because I like it or it's a kick of some sort. It's because I am not willing to let some corporation "discover" the staging concept and capitalize on it with a sound contingency policy and weed me out. Sooner or later, it is going to happen, and staging firms will be on every corner...just like Realty Companies and Subway Sandwich Shops.

I am not going to see some other corporate staging company's billboard on the corner of Ambassador Caffery and Johnston Street in Lafayette, LA, touting the joys and benefits of their contingency staging, and bang my head against my steering wheel and coulda-woulda-shoulda myself.

Anybody here ever seen that movie, "Defending Your Life," with Albert Brooks and Meryl Streep? That movie changed my life when it came out!

If you haven't seen it, the jist of the story is that, when you croak, the only thing you will have to answer for is when you short-changed yourself by wallowing in fear, instead of doing the things you truly wanted to do and you knew you were capable of doing.

Most people just don't get that movie. I recall I sat in the theater long after the credits rolled, looking for the jaw I dropped somewhere on that buttery, dirty, junior-mint strewn floor. Some people need Tony Robbins, or self-help books on tape, or have to surround themselves with cheerleaders to find focus and determination. I just slip that DVD in, and my ability to make a decision becomes clear as crystal. I watch it at least 3 or 4 times a year, and it was made 17 years ago. I give everyone who works with me or is involved with me a copy of that movie. Some get it, most don't.

Since then, I have consistently refused to allow myself to be incapacitated by fear. A $4.75 movie ticket changed all that.

So.

I am willing to risk my ass, because I HATE short-changing myself a lot more than I hate being broke! Kicking my own self for not doing something I know I can do, and do well... that is a lot harder for me to live with. I much prefer to eat YEARS of chicken-flavored Top Ramen than have to look at a chicken in the mirror the rest of my days. Call it overly proud or call it underly cautious. I don't really care. Neither of them are worse to me than making decisions from a place of fear.

Thanks, Melissa, for your support of the industry, and it's evolution.

And thanks, Tom, for sharing your concern and viewpoints, and your support of the industry and it's evolution. I do not see much difference in how we conduct our respective businesses at all, and I didn't mean to insinuate that, if that is how I came off.

And Tom, you posted:

I'm not seeing a huge portion of the Real Estate Industry eager to pay the 40% that Michelle proposes adding to her final ticket price for this contingency financing program.

That's because no one offers it yet. And it's not a financing program. I am not loaning money. Clients pay when they sell.

Do you believe your

pricing is in line with what the staging industry is worth to home sellers and the REA's at large? Are we at our zenith? I thought this industry had more room for growth...I charge a measly $200 consultation fee because I am trying to establish my business in an area that has no clue about what exactly my business is. It takes me at least 4 hours to do a proper bid. That's way less than $25 bucks an hour after gas and commute time. How do I pay my employees, my overhead, myself? Not to mention the insurance I carry, or the storage facility, or buy any fluffy white towels!

I'm not seeing a huge portion of the Real Estate Industry eager to pay the 40% that Michelle proposes adding to her final ticket price for this contingency financing program. Nor do I believe that the additional 40% allows for much profit when the total service is delivered.

Tom, if you received $400 extra bucks on top of every $1000 you made, had more business than you could shake a stick at , didn't have to market nearly as hard as you had to when no one knew what staging was in Houston, and did most of the work in-house, are you saying that sounds like a lackluster deal to you?

So, If something stillmakes perfect sense to me after rolling it around in my head for months and months, I just cannot allow myself to be distracted with something as inconsequential to me as fear.

Wish me luck!

~Michelle

www.featurethisdotdotdot.com

www.curbappealfordummies.com

WOW! Where the heck have I been in this conversation... Everything you are describing are things I have been working on for months to get my inventory flowing again... I just drafted a new contract that says either pay X per month or pay XX at closing.

It also states, after my own market analysis, that the home has to be a certain price point and I WILL ACCEPT the contract based on certain criteria. I want the homes I stage to sell...not cater to what the homeowner or Realtor thinks it should be. We are the ones who consider ourselves professional stagers.

As a matter of fact, My last newsletter to my database offered FREE* Yup * which means FREE until it sells. It was my Christmas in July promotion.

Oh and if the contract is broken or the Realtor is replaced...well there is a clause for that too. OHHH and a security deposit up front....

Looks like many of us are working on the tread of that round wheel.

Tom my NJ friend, "WUUHTER" is Water no matter how we get it...

Renee

Woo Hoo! Do I know how to throw a party, or what?

Ok, it seems Tom has some real issues with the word 'contingency' and I'm trying to figure out how this leads to more liability than the deferred payment plan. I think you are both on the exact same bandwagon here except for 2 things.... (for reference sake, I use bold when I'm emphasizing, caps when I'm yelling... lol)

1) Verbage - actual language. What if it was classified as "Closing Contract" or something like that? What about "Performance Agreement"? Renee, what do you call yours? (You don't have to answer this)

2) When/If you get paid - Michelle's plan states that she won't get paid if the house doesn't sell. Tom 's says you get paid either way, it's just 6 mos down the road. Now Tom, do you get paid at closing, on the HUD, if the home closes earlier? I would assume Michelle's plan would require payment on the HUD. Renee, what about you? What happens if the contract goes beyond 6 mos?

I do agree that if sellers have to pay nothing, except perhaps a deposit or some minimal amount up front, then they would in fact pay more for staging. When they are still burdeoned with paying after 6 months no matter the consequences they still have to factor that amount more heavily into their budget.

I view this very much like the sellers who are told to replace the carpeting but instead give a $5000 carpet allowance. It probably only costs about $3500 to actually replace the carpet, but they will give $5000 at closing becauase they don't have the money now. In addition to the $5000 they also understand (or at least should have been told by their agent) that the offer will also be lower as a result of not changing it AND it may take longer to sell. This means there may still be several more thousand dollars as a cost to not initially spending the $2500. They will pay a lot more to NOT Have to pay the amount upfront.

I am curious about the comments, "Frankly, you don't have the sales volume to warrant the legal expense that you require to develop this concept." How much inventory & sales volume would it take? We have approximately $400 - $500K in inventory (enough for about 45 vacant homes to simultaneously be staged) and last year our gross sales (Bevin & I combined) were approximately $400K. We do anticipate beating that number this year.

I am looking into what our actual close rate (how many closed in the first 6 mos) was, but I'm taking an educated guess of better than 85-90%. The ones that didn't close in 6 mos were typically one of two scenarios. The first is that they were significantly overpriced. We knew that when we went into it and planned accordingly. For us, they would not be available for this type of program. The second is they didn't do what we told them to do - they didn't paint, fewer rooms than suggested, etc. Everytime we've been given 100% control they've sold in less than 6 months (almost all of them in less than 45 days and got full price or very close to it).

Michelle wrote, "It's because I am not willing to let some corporation "discover" the staging concept and capitalize on it with a sound contingency policy and weed me out. Sooner or later, it is going to happen, and staging firms will be on every corner...just like Realty Companies and Subway Sandwich Shops." I have to say I think she is exactly right. I am a firm believer of play big or go home. I have no doubt that a plan like this will be developed by someone who has the cash flow and the guts to go for it. You don't have to win them all. REA's certainly do not. You do have to win most and win big. I know for us, we can say we do.

I would like to ask a question now in regards to the above statement. Do you feel that offering such a plan (no matter what you call it) would create some difficulty with your competition actually competing? I mean let's say you charged a paultry $1000 up front fee (to cover movers, staff, etc) and then the rest due at closing. Your low end competition charges $1500 for a couple of months, but no promises of anything and they don't add as much to the home. Which do you think it is likely for them to chose? I know the $1500 is much less overall, but still more upfront.
With no promises provided and less of an end product, will this impact their businesses? Will they be forced to compete on the same level when up-front cost becomes less of the driving force?

Michelle - thanks for the movie recommendation! I am putting it on Netflix right now. I've never even heard of it, but just so happens that I'm a self help junkie and LOVE Tony Robbins (yep, I've even done the firewalk). I'm looking forward to it!

Oh, one more thing.... Tom, you do the Property Ladder staging jobs? Way cool... let me ask you about the circle carpets thrown about the room like polka dots... I never did understand that! What was the inspiration? I would think that it actually was cost prohibitive with so many small rugs.... That one single room has always kind of bugged me. The rest have been quite good though! Thanks for showing us in such a positive light!

Interesting to and fro on this topic.

Points for and against.

How is a deferred payment structure different from the seller

simply paying for staging via credit card
paying the monthly interest until closing
and paying the balance from the sales proceeds?

Akanke

Aranke - To me this is different in a couple of ways....

1) When you are selling your home, you are possibly purchasing another. Adding numbers to your credit cards is not always a good plan. It can lower the amount of home you can purchase.

2) As a result of this type of plan we can increase our rates without sellers feeling the upfont pinch. We may also be able to compete more easily against our lower rate competitors who offer low initial fees, but little service and not so great product

3) We put our money where our mouth is. If the home doesn't sell then we don't get paid (at least not our full - paid at close - rate. This means that we are invested and the client & REA know it.

4) We get more say so in the end product. So often I recommend painting, staging additional rooms, etc and get told that they will only do this amount because of budget constraints. This gives us the power to get the home staged the way it needs to be staged - creating the better liklihood the home will in fact make it to close & improving our stats along the way.

Melissa,

My perpective on your points.

you wrote...... When you are selling your home, you are possibly purchasing another. Adding numbers to your credit cards is not always a good plan. It can lower the amount of home you can purchase.

They will not be buying the new home if they do not sell the existing home - period. True, they will have a balance on their credit card, but will be in a poisition to satisfy most bank requirements prior to funding the mortgagte by paying off the balance and providing a clean credit card balance statement to the lender after selling their home.

you wrote.... As a result of this type of plan we can increase our rates without sellers feeling the upfont pinch. We may also be able to compete more easily against our lower rate competitors who offer low initial fees, but little service and not so great product

This opportunity is dependant upon a sale of the property, and is linked to the next point....

you wrote.... We put our money where our mouth is. If the home doesn't sell then we don't get paid (at least not our full - paid at close - rate. This means that we are invested and the client & REA know it.

I am putting my money where my mouth is - I am a professional home stager, and tell clients that I will stage the home so that it looks its best and appeal s to buyers. The seller and real estate agent determine the price and how it is marketed, shown, negotiated, contracts executed, appraisals, etc.,

I, as a home stager have no influence on the other spinning plates in a real estate trasnaction, and prefer to go to Vegas should I wish to gamble... '-)

you wrote.... We get more say so in the end product. So often I recommend painting, staging additional rooms, etc and get told that they will only do this amount because of budget constraints. This gives us the power to get the home staged the way it needs to be staged - creating the better liklihood the home will in fact make it to close & improving our stats along the way.

Not sure you have more say in the process unless you have both authority and influence over the other phases of the home selling strategy and tactics/process. That is the real estate agents role in combination with the seller.

Home stagers prepare the home for sale. The seller and Real Estate Agent control the transaction. My 2 cents.

When the seller pays for the staging, then you have a motivated seller - these are the sellers that real estate agents want to have. This can be another way to identify a motivated and serious seller.

If a seller does not have the money to stage upfront, one has to wonder how you will ensure that there is payment at the closing table - after all there are other lien holders with priority at the table before you as a services provider.

Melissa: You asked

Verbiage: I actually present the contract three ways. One with 1% of listed price in monthly payments or at close whichever comes first. #2 X amt. of dollars per month with a two or three month minimum and #3 XX amt. of dollars per month that accrue if they do it with a contingency.

The Addendum is Just like a Real Estate Contract, however with a different meaning, I call it a Contingent Sale Addendum...however I like the term Performance Agreement Addendum...so I might borrow the term if thats OK.

The Addendum spells out how much the cost will be per month. Higher but not rediculously higher than if they were to pay per month. Also, stipulations if the homeowner changes Realtors and/or changes their mind. We are after all providing a service so if you change your mind you still have to pay.

So, say the client starts paying per month and it goes no where in the three months they thought it would take. Even if I or their Realtor or both advised them otherwise. They have the option to do an addendum to the contract where the payment is due at close with stipulations ...like things we "know" will help make the house sell...perhaps spend $35 on a gallon of paint. Even if it means we have to gently guide them to have a yard sale to get the $35 for the can of paint!

If, however, they enter into that addendum and then after three months decide they want to wait and cancel. I have had them sign a point by point of what the fees will be, what the ramifications will be...possible mechanics lein on the property. However, as everything in this world, I have no black and white hard fast rules. I can easily scratch through the tough language and initial because there are times of grey or (gray?)...so if I feel they will use me when it gets better, or refer me to others... I may not be as tough and only charge a small cancellation fee...especially if I'm drowning in inventory.

About the HUD. I have not had an issue with that, I have been paid many times via the HUD. Some carpet and paint people may consider that option too.

There is a clause in mine that we revisit how to proceed every three months. A team effort to get it to SOLD.

A big PS...more to Michele if I read right (sorry running off to an airport in a few): I use to say they didn't have to pay if it didn't sell...I had two contracts that didn't...cost me way too much...even with a 30% down...and besides we did provide a benefit service..

Open Door Staging - I'm not saying that we don't offer the same thing as you do right now. I'm simply opening the door of discussion of adding a new potential plan. Currently all of our contracts are cash (or credit) up front. However, I've seen many a staging job de-materialize simply because the sellers did not have the funds to do what needs to be done. Just because they do not have the funds, does not mean that the seller is not motivated. Often they are motivated specifically because they do not have the funds!

This was not meant to criticize the norm - which I still advocate as the best way to get paid. If you have the ability to offer this type of service to clients I think it is worth exploring, however.

I would also say that when we have been our most successful is when we work in a joint effort with the REA to get the home sold. Contracts like the one discussed would only be available (at least in our company) to agents who market well, homes are approriately priced, etc. The gamble becomes less when you work with great REAs who know how to do their job well.

Call me old fashioned - but payment is due upon completion of the staging.

No gamble, no legal contracts, no intrusion upon the real estate agents role - simple and easy.

Works every time for the moving services, handymen/women, furniture rental stores, panit stores, painter, landscapers, e,t.c that we use to stage a home - not sure I could get them to refrain from charging me until the home is sold. (smile)

Renee & Tom - I haven't neglected or forgotten your comments, I just need more time to address them than I have at this second...

Open Door - There is nothing wrong with the old fashioned policy. If you are using contractors and rental companies then this is not a scenario that would work for your business model.

The reason my company began to think about this model is because we have the inventory and cash flow. We also want a way to increase the price of the service we offer without losing more jobs to the competition (based on price comparisons). There are many jobs we know that we would have gotten had we had this type of policy in effect.

For us, we advise that we provide more than simply adding furniture, art & accessories. We helps to stimulate the sale of a home. We can use the same arguement that you make with handymen, etc to real estate agents. REAs only get paid if the home closes. The model of our company most resembles an REA company.

We will always offer a lower staging cost up front, but MAY consider offering payment at closing for a higher rate. This will appeal to some who view cannot afford the upfront costs but want the benefits that staging provides.

Best of luck to you in your market.

My business is similar to yours, but respectfully, they are not similar to a real estate agent's business model. The compensation rates are very differnent - least here in South Florida.

I do not think that 'pay me for services rendered when rendered' is an old fashioned policy - more the 'accepted policy', as demonstrated by the examples I gave, should I choose to use them.

Our clients choose us based on our reputation and level of service provided - those that want a lessor product shop around - no harm in that.

That's why you have Macy's and Walmart. ;-)

Melissa - I'm finding this discussion fascinating - although I admit I've been on vacation and haven't read all of the responses.

In a past life I was a settlement processor for a real estate attorney and handled all aspects of home closings. A question I have is how would a stager be able to find out the liabilities of a transaction before the closing date? I can't tell you how many times sellers came to the table with IRS and tax liens, second trusts that no one knew about and what were called "clouds on the title" so a deal couldn't legally close. Since Realtors often weren't aware of most of these charges prior to settlement how would a stager know if there was enough money at settlement to be paid to all parties? Very often homeowners in financial distress weren't completely honest and didn't reveal all that was owed until the liabilities came up in a title search.

I have had several requests to be paid at settlement and after much debate have decided I just can't justify it now. However, I do think I could increase my sales but in my case the liability offsets the additional income.

Just my two cents. . .

Not my thread, but need to address Open Door. How lucky you are. You say you are chosen based on reputation. When I do research, it is my reputation that gets me the call and the job.

You say lesser an service equates to less money and is the difference between Macy's and Walmart . I have friends doing three times as many homes and are shocked that I'm not doing the same as they say my level of service far outranks theirs; meaning I do twice as much in staging and marketing for my clients.

So my humble opinion is it is not always reputation and level of service...it is demographics, and what your market is willing too buy into on what makes a home sell.

Open Door, I looked at your site, your staging is lovely. I see many of the same inventory so we must shop in many of the same places... Style, I love yours and mine bears a little resemblance...again if there were a magic formula... Staging would be routine in the country not just a new concept in many an area.... Again, just mho...

Well, I am glad to see we've got some new perspectives between Akanke and Lynn......

Lynn - Certainly the items you discuss have to be thought about. I would say that these are not the common scenario though they certainly do happen. I think it also has to be said that sellers will need to be prequalified in order to even think about such a deal as Michelle, Renee and I have suggested. The goal of this discussion is to weigh out the risk/reward and to come up with solutions for those who may be interested in persuing such a concept.

Akanke - I used the term old fashioned because it was the term used. I would say that many businesses offer financing terms that lead to their success. Even Macy's has it's own credit card. Home Depot has 6 months same as cash and it definately spurs some to spend who could not if they had to pay in cash. Is that good thing or a bad? I am sure that Home Depot's bottom line feels its a good thing - which is why they haven't done away with it yet.

I do feel that some feel that the discussion or comments mean that we don't agree with the status quo. That simply isn't the case. This is the same way we currently run our businesses as well. When what you want/need to do isn't working sometimes you simply need to build a different/better mousetrap. Sometimes thinking outside of the box is what is necessary.

I am sure when the real estate companies first went to pay at closing it was difficult for some. There are still currently companies that are paid in advance for listing homes - they are also paid less per home than paid at closing agents. The good news is that if the home sells, or if it doesn't, they are still getting paid. There are no right or wrong answers - this is just a discussion on possible solutions for some of us.

Tom - Sorry to leave you hanging here. I was spending some time with my youngest and didn't have the mindset to address you.

I didn't know what WYSIWYG either. Stager Girl, Audrey Hoffman, had to fill me in when she came to visit! I guess I just never even thought about it! HUD is the form the real estate attorney uses to show what is paid to whom at closing. Getting paid on (or out of) HUD means that the attorney cuts you a check, not the seller. All you have to do is submit the contract to the closing attorney and it will automatically be paid - before the seller receives any money.

We may have 1:1 ratio of furniture, etc but that doesn't answer the whole story as to whether you can support a policy of this kind. If you only have 3 sets of furniture, you certainly cannot wait possibly 60 days to get paid. You will need more furniture by then. When you have 45 homes worth, the rotation becomes pretty frequent. We almost always have several sets of furniture in stock at any time. By yielding a higher return on each home we would have the opportunity to increase our volume of business as well as increasing our actual inventory. We have a steady stream of income by staging vacant homes each and every single week. This also means that even if we lose one here or there, the benefit by the masses outweight the losses. Credit card companies will always have some loans that default. The majority don't. The ones that do also create a tax write off helping to reduce the amount we pay in taxes as well....

I certainly did not mean to imply that you do inferior work. I was using the numbers that are consistent in my area. I also tried to compare IF we did a plan like this and charged $1000 up front fees and nothing else until closing VS another company charging $1500 up front how that appears to the client - good and bad. I wasn't implying that if your rates were similar (or less) that you didn't do good work. I do think your paranoi is showing - lol... just kidding, but seriously that had nothing to do with your specific rates.

Thanks for the fun info on Property Ladder too... one of my favorite shows really. I still wonder why they don't listen to Kirsten!

I think what is missing here is perhaps that I am a licensed agent. I can pull comps. I can know if the home is priced correctly. If my company would move forward with something like this it would have all kinds of stipulations in it for multiple possibilities, including many that Renee already mentioned. Also, what works in some areas may not work in others....

Renee - Thanks for the information on things you include, clauses, etc in your contract. This is exactly what I was hoping for in this discussion... things to think about. Please feel free to use the phrase, "Performance Agreement" - just not in the Charleston area (wink). It was actually suggested by our accountant.

I also appreciate you talking to Akanke aka Open Door. I definately agree that reputation gets us through the door. Unfortunately for some sellers, they want the best, but can't afford it upfront. It doesn't mean its not a viable property for staging though. When we can find something that works for everyone involved then it is a good option.

I guess I just don't understand why this is so offensive a thought process. It certainly could be a risky one, but if it doesn't work for you, then don't adopt it. Is the defense mechanism exactly what Michelle was talking about - are we afraid that if we don't do it, someone else will and that may hinder your business if you aren't doing it? If so, what does that say about the future of staging.

@Melissa,

Providers of store credit cards hope that you will not pay before the 90/180 days are up - they want you to pay the interest. As a stager, I want to get paid for my services, I am not in the credit card business.

As I said earlier, let the client use their credit card... Not closing the door on the topic, just making a business decision on what I know today and forsee in the future. Good luck with the approach, I wish you the best.

FYI - pay as you go real estate services are gaining traction in the community. Agents in South Florida have started charging a listing fee to even take a listing for sale.

@Lynn - My sentiments and experience also.

@Renee, There are a lot of attibutes that influence every market - Some will always be better than others. It's all about being able to find the players in every market. Good luck.

Tom - Thanks for playing along and I hope you have a great weekend as well! I appreciate all the information and ideas you brought to the table!!

I am so thrilled to finally see a real dialog occuring about this! I cannot wait to accumulate all this wonderful info and sift thru it prior to seeing our attorney!

Melissa, thank you so much for all of your input! I cannot express how much trouble we are going to dodge because of the dialog you've created here, and on other blogs on this topic.

I remember one blog you wrote about how you share virtually every step you took to make your business a success, free of charge, and how few people actually bother to place their feet where your's have already tread. It was called Sure I can tell you how... but will you do it?

I read that one all the time, because I copied it and taped it to my bathroom mirror. And I study those blogs like the challenging assignments that they truly are.

To have you backing up my thought process on this subject matter brings me exquisite pleasure!

Thanks, SO MUCH.

~Michelle

Melissa, Michelle & Tom -- wow! That took awhile to thoughtfully review all of your comments.

I have to admit that I am a pretty firm believer in accepting payment at the time services are rendered. Seems less messy and risky and requires less time to manage.

However, I also see Michelle's point about down the road when a corporation with more financial resources comes along and offers these various financing tools (I will avoid any of the "buzz words" that caused so much disussion here!) and eating up the business.

My BIGGEST concern is exactly what Lynn identified. If a seller doesn't have the money upfront for Staging, or room on their credit cards, then shouldn't that be a bit of a red flag for us? Who knows how much money they will actually have at closing? For Melissa, being an agent gives you MLS access so you at least have a clue about the homes price and market comps, but as Lynn pointed out, there may be many other outstanding debts that come to the closing table and you could be blindsided by then. Would your qualifying of clients ahead of time uncover enough information to guarantee that this wouldn't happen? Would you do a credit check on clients, similar to what a mortgage company would do to help ward of some unforeseen debts and liens at closing? How will you guarantee that after commission, potential closing costs, etc that there will be enough equity in the home to pay the Staging fee? Here is also where pulling a credit check will show the balance of the home loans and therefore give you an idea of the supposed equity.

Furthermore, if you build in a clause that reads "If the home does not sell by __ number of days or months, or if the home is taken off the market, etc then the Staging fee is due in full" -- how can you really expect to receive payment THEN if they didn't have the resources to pay you when the Staging work was implemented? Are they likely to be more financially drained down the road after an unsuccessful crack at selling the joint?

How about offering payment plans as a financing option, with a credit card guarantee on file should problems arise down the road? For example, if the rental is for a three month minimum, how about letting the client pay each month, one at a time? If the Stager is going to be a "Real Estate Developer" or whatever name you give it, and be a project manager, then pay upfront for the outsourced services and materials such as painters or handymen, and pay the Stager's consultation/managing fee in chunks each month? Possibly awarding a bonus at closing dependent on how quickly the home sells?

As far as offering payment at closing as a guarantee or incentive that the Stager will do their best to get the house sold quickly, how about accepting payment up front and building in a bonus if the home is successfully sold in ___ # of days.

I wish you ladies the best of luck and please keep us posted of your journey into adding specialty financing options!!!

Michelle - You honor me with you comments! I am glad to be able to inspire you and root you along! I think we all bring great gifts and have enjoyed this dialog immensley.....

Tori Lynn - I loved what you had to say and so I am so glad you decided to take the time to read through all the lengthy comments and contribute! Here were my favorite parts of your contribution... "How about offering payment plans as a financing option, with a credit card guarantee on file should problems arise down the road?" and "Possibly awarding a bonus at closing dependent on how quickly the home sells? As far as offering payment at closing as a guarantee or incentive that the Stager will do their best to get the house sold quickly, how about accepting payment up front and building in a bonus if the home is successfully sold in ___ # of days."

We actually do offer some of our clients a month to month payment option (at a slightly higher rate & still with a 3 or 4 month minimum) with a credit card on file.

I think that last part is something really good as well. This was something suggested by our accountant as well. We've been trying to take the best of all the suggestions we've received and work on a great contract. I think we'll add this to the mix.

Thank you again for chiming in!

AUG

2008

Hello Melissa, Yes, you do know how to throw a party.

Gary - Well you know, I do what I can... who was supposed to bring the chips?

btw, it was great talking to you today!

AUG

2008

Alright, I've now read this thing 2x, made notes, slept on it and brooded some... still not sure I have it clear in my mind's eye? It's a fascinating discussion because it's rife with problems, shaky logic and potential payoff...it's a win big scenario that COULD... MIGHT... WOW,if ---

May I ask some questions, and I apologise if I've misunderstood your musings thus far -

Getting Paid Anyway? Are you (some of you) expecting to get paid if the home doesn't sell? I'm not sure that's morally correct. A line of thought might be: if you want to get paid "realtor money" you need to take "realtor risk". i.e. there's an entry fee to get in the game (like the realtor having to spend out of pocket, up front, for the marketing) and then you play to win like everyone else. If you lose, you at least got to play...and you go away, watch the replay, refine strategy and practice until you get another chance to win next time around.

Pure ROI Argument? How much can you really expect to get given how much you put in vs. the other "investors?" So you put up $10K worth of stuff on a house that's $750K. Your piece of that total is 1.3%. Are you saying that you would be entitled to 1.3% of the net profit or of total sale? Is there another %? How much did everyone put in? The person who bought the property and renovated it? The realtor marketing it? You then split something that needs to be universally recognized as profit by the ratio of investment? How do you account for Time and market appreciation? Whose entitled to that?

The Negotiation. In my region, the negotiation is where the realtor earns their dough. Negotiations get nasty. Both sides usually behave badly. Many deals simply fall apart if the realtor isn't a Class A mediator with UN type negotiating skills. (In fact the training to be a UN negotiator should be 3 years in NJ real estate! That plus a few extra languages and you'd rock the whole Peace thing in a matter of months!! "OK, what's next? World Hunger? On it. Would you prefer Tuesday at 10 or Wednesday at 2?") Since stagers don't want anyone else staging, you can hardly expect to be allowed in to the negotiation. However, by this method, you have a vested interest in seeing a good deal materialize...don't you want in? Don't you want to help make it all work? For this program to work,you'd have to be really confident in the negotiating skills of the seller's realtor, at the very least, and then there's the deal busting attorneys! Don't get me STARTED!!!!! (Ye-ah, I'm yelling! I'm from freakin' Jersey!)

Lastly, Mind the Gap. When the blood bath draws to a close enough gap, aka the negotiation winds down to $5k apart or whatever the gap is, it is customary around here for the realtors to kick in. My guess is that the stager would be invited to do the same. You'd not get another assignment with that realtor if you refused, is my guess. One would therefore need to build in a Gap contribution so that you candemonstrate you're just as much inthe game as everyone else. They'll come at you with, "which would you rather have - a deal with some money or no deal and your inventory tied up for another couple of months until we get the next one?" And you know the next one will be lower, it always is, so your slice or % will go down, no?

I think the flat fee strategy will be hard to collect if the deal is a tough one to close. I can see the % option flying stronger and longer. However, the take away from this thread for me is the reminder of what Melissa already told me: take credit cards. Right now, I only take checks and cash. Which is absurd. No reason not to let them pay it off over time on a credit card.

I like the % idea. I'm ve-ry leery of doing it here in my part of New Jersey. Fear? You betcha. Fear grounded on past experience? For sure. Fear that could be seen as wisdom, caution and common sense...dunno. <sigh> It's always easier NOT to do something, eh?

YIKES... Use guys just made me realize my tough NJ skin has really thinned since starting my staging business but getting back to in your face and direct ...A contingency doesn't have to be NOT PAID as one suggested (I'm getting a little lost of where we are in the conversation ) but if you write it in the contract you get paid X% of the original listed price, the UN wouldn't be necessary no matter how ugly the negotiations were...

But gotta speak to the South being kinder and gentler in negotiations. NO WAY...I was on MLS this morning checking out what Sold and closed in the past few days. Only one of about 30 that closed was for the asking price some were as much as $60,000 less and that was after a price decrease during the listing...

I don't see Southerners as especially being more kind in negotiating than those of us from up there. As a matter of fact I think we from the North are just direct in the negotiations...saves much wasted time... however many from the South will give a glass of cool "sweet tea", a smile and then BAMM.

Sorry my new Southern friends..not all of you. But if I told you how many times I heard politely and with a smile: "Wail ...Mehhh-ay be you should go baack to the No-oth" BUT THEY MEANT EVERY WORD because a Northerner was giving an opinion about their adopted state or city or service they were receiving.

But I digressed... a little off topic. I have always accepted credit cards...but that's not filling my pockets and don't forget, you have to pay a fee to accept them.

So since it wasn't credit cards working, I started trying THINGS:

I did the thing that my Inventory, Service and own efforts to market were superior to my competition. As well as highlight that I knew Staging should be a standard with any home sale...In the beginning it was good then...Do you hear crickets? NOTHING... I got nothing.

Then I did the risk thing of not getting paid unless the property sold...except for say 30% of what my fee would be and I bragged that I interviewed the agents I worked with to make sure they were going to MARKET the property not just stick some photos on MLS and wait. Then things started changing and that risk did not pay off and I was seeing bright red numbers with each transaction.** more on that at the end...

Then I heard, through the grapevine, that a Staging Queen :) a little farther South was doing a package for waaaay less than I was charging ...I couldn't get it worked out on paper but hey it was working for her so I took a stab and tried it...In the beginning it was good. It was bringing cash flow, not covering all my expenses but I rationalized that I was doing it so my demographic would now understand that staging was the norm and would increase my pricing when the numbers of homes staged grew then...OMG...I started losing jobs to:

FREE! How do you compete with FREE? Seems in the good times a plethora (my favorite word gleaned from that ol movie The Three Amigos) of furniture stores opened on just about every corner... Homes and condos were selling at lightning speed. I know, I was selling them. If a building was released for me to sell by my builder, all I had to do was get my list out and call the next 10 people...prepare the contract and Fed-X...SOLD...money in my pocket! Well they had to furnish the place to rent or flip so they would buy from all those furniture stores... Seems the furniture stores are having problems too so now they are furnishing homes for FREE to be sold with or at least the possibility of buying from...

So, where do you go from there? I don't know...that's why I tried my stab at Christmas in July FREE (well sort of) but accruing until SOLD. FREE but could be cheaper than the accrual if you pay month to month...FREE but not really because even if you change your mind you still pay something.

I hope whoever wants to do the: Free unless it sells reads this because ... A Realtor should, if they are good, go into a listing knowing up front the % they will spend and will know their bottom line risk to market the property and use their sphere of influence to get it to SOLD...

A stager, however, doesn't have that same luxury. The cost and risk is usually going to be significantly higher.

Interest still accrues on the furnishings if you don't own it outright,
the cost to move the stuff out once its in there...is also iffy. You don't know from week to week what it will cost and if like me you charged upfront the rates you were paying seven months prior...UH OH the additional cost came out of my pocket (because I honored my contract) and the cost to me... at least 30% more than when I put the stuff there...
There's always the possibility of breakage (at least for me who is a klutz by nature anyway)
Then...and this happened to me, I had an injury and had to hire someone to do what I use to do to de-stage and on top of that..
I lost my good dependable help because of the economy and had to hire more expensive and not so great help to remove the stuff...and had breakage.

RED, RED, RED and more RED...none of my calculations were in the range I thought they would be.

So, what is the answer...hey I'm listening. I spoke with an authority on the Real Estate market in my area yesterday hoping for answers and help...unfortunately, for me, it wasn't what I wanted to hear and I'm still feeling battered and bruised. I was told I am doing everything right my business plan was a great model for an economy about three years ago (when I started my staging journey) BUT NOW... IT'S THE ECONOMY, it is the lack of sophistication in my demographic to understand the value of my service when it's already hard to sell it full, pretty, empty...you name it and I'm paraphrasing here, that Alan Greenspan recently said we are treading on new water in Real Estate NEVER experienced before because of failing banks, sub prime..and more, so no one really knows where it will end...

I remember gas rationing in the 70's and back in the early 80's I sold a house at 17% interest. I remember purchasing a house with some creative financing, a 3-2-1 buydown...but how can they get creative now? Financing got so out of hand that it has gone 20 steps back. There is a WORLD economy now that is affecting us... I use to be a glass half full...feeling very much like a glass empty...

I'm done my rant now on Melissas blog...I guess those of us from Jersey are long winded...

Juliet I don't know if even the best of the UN can help some of us... Sheesh I forgot the UN still existed until you mentioned it...

I am packing in my office but I promise I'll be back to comment. Juliet, what you have said has some very interesting things to think about.... I'll address them this evening (though it will probably be late).

Renee - fortunately for the rest of us, all markets are different. but I'll go there further this evening as well....

I am so thrilled to find myself falling under the Southern Belle mystique. That is a first for me, being a transplant from the O.C.

They say, down here, that anyone born North of I-10 is a Yank. Well, the hospital I was born at in Los Angeles just so happened to be about one mile South of that divide (Yes, I-10 bisects La and Orange County, and runs practically into the Pacific Ocean), so a Southern Belle I must be!

That having been said, I would like to address Tom.

Tom, Contingency Staging from a staging corporation is happening in New Orleans, just 90 miles from Lafayette. So who's reality am I to base my business strategy on?

It isn't yours, I assure you.

Timing is everything. The market is Louisiana isn't experiencing the same hit as the rest of the nation:

http://money.cnn.com/2008/05/06/real_estate/100_forecast.moneymag/index.htm

This IS the time for us. This is the perfect time. Awareness of staging has heightened to a tremendous level. There's even several T.V. shows about what we do, it interests people so much. REA's are using the buzzword of staging or tout a staging strategy on their websites, even though many of them admit they don't even KNOW a stager.

We are hot right now. The skittish REA's and Sellers are all looking at what is going on with the nation and revamping their marketing plan of attack. I offer a solution to the fear that their equity will be less than they desrve. And now, I am offering to fill in the loophole, or rather, sink hole, that REA's and homesellers alike perceive, and not with price reductions and vignette or limited or package-deal staging, but with FULL Staging, as it should be.

I am a believer, a dreamer,and a money-making schemer and all those traits that move things to the next level. Risk is part of the game, and playing it safe will not get me where I want to be. I don't want to pay my bills and have a little nest egg. Been there, and done that. I want to run a big, fat, lucrative staging business. I can't sit around waiting for a green light from my peers. My gut tells me this is what needs to be done.

I believe in my instincts. As an evolutionary product of my homo sapien ancestors, it is really the only reason I exist. Niggling little thoughts in the back of one person's head might be interesting for cerebral digestion at theirleisure. Mine are my compass, and listening to and following thru with those thoughts might sound ludicrous to some. But as the product of 355 million years of evolution, I trust mine implicitly. You can throw whatever stat you want, whatever article, and whatever anecdotal evidence you've got.

My instinct says these here bushes we are all sitting in are not safe anymore, and that the open meadow is where I need to position myself for survival. Not next year, not by Christmas, but right NOW.

So with the constructive parts of this dialog generated here minus the condescension, to my lawyer I will go. The plan is in forward motion. I will do everything to gear up, except listen to the folks telling me the bushes are still safe.

I know they are not.

~Michelle

This has been a facinating and educational discussion. As I am not a Staging Queen (yet!!) I think I might also be able to express some of the angst Michele has (big staging corporation)from my even lover level prospective. I love my little business and I don't want to be left in the dust.

Change is a scary thing and maybe many of us out there just starting are concerned about being left on the sidelines. If everyone else is doing it I have to do it to type thing.

On the other hand I am looking at this as a possible option just simply because not so many are doing it. For my business at this point, it would take only one total disaster of the kind Tom has mentioned in his blog comments, to knock me out of the game for good. On the other hand if luck held out, I did my homework and hooked up with the right REAs, put together a kick --- contract, it could propel me upward and quickly as I think Melissa is hoping when considering ROI and fees.

At this point, I don't yet have the inventory, in house help or revenue to take this plunge but I can see how it could evolve at some point to continue growing like those in Michele's and Melissa's stage. The big problem for me with all of this,,, bottom line...there is just so much I can control and to me this is in many ways relinquishing control of my business no matter how good a contract you come up with. As a former practicing Paralegal in Civil Litigation, there is always a loophole to be found somehow somewhere.

Michele, I do not think you are being foolish, I admire your hutzpah. You are a true business woman and pioneer as is Melissa. I wish you all the luck and who knows....we can all plagerize your model (JUST KIDDING)

Melissa AND Tom too, thanks so much for laying this out there for everyone. I have had to read and reread each of ya'lls blogs to wrap my tiny brain around this stuff and I am better for it.

Ok, it's almost midnight... I worked very late into the night due to movers being off schedule today & I have a very long day tomorrow finishing up ..... Still I wanted to try to address some of this.

Juliet - I'm going to try to address these one by one from my perspective & my personal market.

Getting Paid Anyway - I agree. If we are going to ask for more money on a percentage basis then I think that we have to take the risk. I do advocate a minimal amount upfront to cover things like movers fees, but beyond that, IMO, it would run very much like a real estate office. Which as you and I discussed at length is how I have structured my overall business model, so this just continues the continuity IF we decide to implement it.

Pure ROI - I don't necessary agree with the way you have this worded, but that's ok. I think much like a full service REA if we partner with the REA then we deserve similar rewards. As stated above, we do have a lot on the line in actual cash outlay - it's an investment that is relative.

The Negotiation - maybe things are a bit different here in the Charleston market than NJ. There are two types of Realtors (or agents). There are discount brokerages and full service ones. The discount brokerages are paid in advance and their service is done when the property is listed in MLS, perhaps they list it in a newspaper or two and or may even work up a flyer pdf for the sellers. Full service brokerages do full on marketing, help to negotiate contracts and help with closing docs, etc. They are paid significantly more at closing.

So I guess the real question might be, is all we do as stagers to drop in the furniture, maybe do a little painting and/or provide some photos OR do we partner with the agents to market the home? The answer may be different for each and every one of us.

Mind the Gap - To my knowledge that rarely happens around here. I was an administrative manager at a real estate office prior to delving into the staging realm. In the year I was in that position, no matter how much lower the contract was to list price I never saw an agent discount their commission for it. I know many many agents both professionally and personally and the only time I ever know of it happening was actually on one of my personal properties - and it was only for the home warranty (around $350 which the LA and BA split out of their commissions).

I would say for what I know of your situation (i.e. you use rental furniture) this would not be a wise choice. Your overhead would be too high and thusly the risk. Credit cards are a good option. The downfall is that some sellers may still feel their risk is too high and choose to not stage. This, right now, is not enough of a problem, at least in my area, to outweigh the credit card option on it's own.

It is late for me, so hopefully that made sense....

Michelle - Interesting to know that it is already beginning to take place. After talking at length with Gary Barnett I realize that perhaps we are at a tipping point - sort of like when you at a play, concert or similar and a few people stand up to clap... a few more stand up and then statistically speaking there becomes enough that everyone else stands up automatically. It seems that many of us were thinking the same thing at the same time... what's with that?

Renee - Certainly there are parts of the south (and mult-generational southerners) that don't like northerners or their attitudes. Many of them think the south will still rise again.... was it ever really risen, I mean come on? However, as a GRITS (Girl Raised In The South) girl myself I have to say that I also find people far more friendly than many places up north. That's not an across the board thing, but a generalization.

I will say that we haven't experienced the FREE thing yet & I hope we don't. I don't have an answer there. I will comment on another part of that because I happen to know that I am the Staging Queen in your comments (you happened to get that information at a realtor conference edu-session I was presenting). I guess our end product is different than yours (we use less large ticket items and accessories) and our contracts were structured differently. We charge less but make up for it on volume. With that said we aren't the cheapest company in town and aren't the most expensive. I would say we are middle to high from the competitor rates that I am aware of. Different things work in different markets, however. Even though we are only a few hours away from each other we have completely different demographics and economic conditions. What works for us, may not work for you - as clearly seen.

I do feel that now that we have been able to prove that staging does help to sell homes and we have successfully been able to partner with agents to get them sold and show our true value that we have the right to change some marketing plans and possibly earn a little more money where possible. If we choose to go forward with the contingency or performance plan then we will still continue to offer the pay up front at a discount policy. Little to no risk, little rewards.... Big risks, big rewards!

Ana - I think you hit the nail on the head that this is an evolution of our businesses. I would not suggest it for the new stager or the barely making it stager. This is something that you MAY be able to implement when you can pay the bills whether you get paid for this job or not.

Fear is normal & important - it helps you weigh out the options that are right for you. There are good things and bad things as every single person who has weighed in has suggested. There also will always be a learning curve when you start something new. This doesn't mean that its not worth trying! As Tom said above, fear is simply an acronym for false evidence appearing real - which is why Michelle has chosen to put fear aside and be smart, savvy and spread her wings. Will she fly or come plummenting to the ground? I don't know. I do know that if she falls, she'll probably do some self diagnostics and adjust accordingly, spread her wings and fly again.... if she still falls, well, lather, rinse, repeat.

I have a little lather, rinse and repeating to do myself. It's 12:30, I worked until 10pm, packing and moving in 100 degree heat for hours on end today. I need a shower and my bed..... night all....

AUG

2008

Hey Melissa...

Trekkies call it Borg Mentality. LOL.

I just think it's our collective instincts kickin' in.

~Michelle

Speaking of Borg - have you ever noticed how much Amber Langston looks like Jeri Ryan - Seven of Nine on Voyager? (and that's a good thing!)

You will be assimilated, resistance if futile.....

LOL.

Jeri Ryan is just plain hot, no matter WHO you are.

I wish someone would say I looked like her!

~Michelle

AUG

2008

Gee, this post got a whole lot shorter than I remember it from the other day..??

AUG

2008

OMG I can't believe I made it to the end of all these blogs on getting paid our worth and the 'mechanics' of getting paid. I swear I thought I'd have to continue reading tomorrow...but I just couldn't step away.

LOL, I guess I finished sooner than I thought because some comments were deleted. I was thinking "I'm such a great speed readier"...then Gary burst my inflated bubble by pointing out the missing comments. DRAT.

I've bounced around reading the posts...I'll deferr payment...OMG, no I won't!...Oh, OK...I will! Won't...Will....maybe I'll sleep on it.

Actually I've wanted to do the deferred payments option for some time now and I am *so* glad you started this whole chain of blogs Melissa! I currently do rent the majority of the furniture I use...but I have a plan to avoid being burned until I can acrue enough $$ to purchase all my own inventory.

It was Michelle Molinari's comments...oh so many of them...that has convinced me that I am stupid if I wait a moment longer to get my act together and work this out.

Bookmarked!

AUG

2008

Yes, Dane, I can get a little passionate.

I saw my attorney yesterday morning. He is absolutely confident he can cover all the millions if bases I want covered. I will have my new contingency contract in 2-3 weeks.

Thanks to all who helped point out the potholes and shared your ideas, theories, concerns, and validations.

I only have a couple of weeks now to determine our new advertising campaign to announce our new service that will allow complete real estate stagings for more people who need all their deserved equity!

I cannot thank you all enough!

~Michelle

Michelle - couldn't agree with you more about Jeri Ryan! You will definately have to keep us posted on how that new contract and plan works out!

Gary - hmmmm -- wonder why that is?

Dane - excited to have you in the conversation now. I think there are a lot of great parts of the plan, but it certainly isn't for the faint of heart (or the cash flow poor)!

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Melissa Marro ~ StagingAndRedesign.com MarketReadyRealEstate.com

St Augustine, FL

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