In this ever challenging market, agents are always looking for that little something extra that gives their listing the edge over the competition.
As an agent who regularly carries 20 to 30 active listings, I have found that in the current market no stone should be left unturned. I have tried all the marketing incentives, seller paid mortgage payments, seller paid closing cost, free furniture, free trips, agent bonuses, increased commissions and others. Most of these "experiments" have had little to no success.
Not being a big beleiver in home staging, another agent in my office has made me think twice. After listing a vacant property that had been listed for 11 months with two other companies, she took the listing, had the home staged, and sold for full price in only eight days. When I visited her brokers open I was amazed at the job that was done for such a small amount of money.
Selling property in the Washington DC metro area has become quite an art over the last 18 months or so with so much inventory and what seems like an ever dwindling number of ready, "willing", and able buyers. So, I have decided to test the home staging process on one of my vacant listings and post my results here on my blog.
The test property is a 4 bedroom, 2 full and 1 half bath colonial with built-in bookcases, gas fireplace, formal living with crown mouldings, formal dining with bay window, chair and crown mouldings, and hardwood flooring. The two story foyer features hardwood and a curved staircase with hardwood. All 4 bedrooms are good sized and the master features 2 separate closets and a garden bath with soaker tub. The kitchen is average size and includes a very large breakfast area with bay window. This home has just over 2300 square feet of finished living space and a full unfinished walk-out basement with a built-in suana. Built in 1999 the home has a full front porch, large rear deck, good landscaping, and a very desirable location. The interior has been freshly painted from top to bottom with all nail holes, dings, etc. repaired prior to painting. The wall to wall carpeting is a nice neutral tan and in good condition. This property was listed with another agent for 9 months with the owner in the home, it was very cluttered and did not show well and was listed at $489,900. It has now been listed with me since January 4 (almost 3 months as of this writing), is vacant, had the paint done, and a professional cleaning and is priced at $374,888. We have had 16 showings to date but not one offer.
Now, I have hired a professional stager to come in and do her thing for a total cost of about $1,500 and expect the transformation to be complete this weekend. I will post my before and after pictures as well as the marketing results when I get them. If my success is as promising as the other agent in my office, all my future listings with get the staging treatment.
Anyone who has had success with staging and its cost, feel free to share. Happy Selling!
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