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Still standing... staging survival.

I received a phone call today from a new REA that asked if I was still in business and if I would still be here next year. Of course I said "yes", but it made me stop and think about why he asked that. So, I asked him.......... He said that he had asked other stagers that he had used before and they had all quit or couldn't do it right now.

OK... you might be saying "So what?"

I am an advocate for the staging industry, always have, always will. I believe in standards and helping each other to attain our goals. True... there are 75% less stagers here in NorCal than there was a year ago. That is right... 75% less. What concerns me is why it didn't work for them. Were they mis-lead by false training and broken promises? Did they think that they were jumping on the staging train? Did they actively set their staging business up as a true business?

I don't know the answers, but it does have me thinking about what I can do to help or what we all can do to help. It saddens me actually. I don't think of my competition as "competition", I consider them as affiliates for the industry.

For me...I have had to diversify, to be innovative, and accept change. Staging is a blanket term for many different areas for our clients. To offer a variety of services based upon area, buyers, trends, and the market, one has more of an arsenal so to speak. I am proud to still be standing. I credit my wonderful team for this, but I still feel for my staging friends who have moved on to other things, to have quit with broken dreams.

Why do you feel you are still standing and what positive advice can you give to others?

Posted by Lori Kim Polk, Roseville, Sacramento Home Stager on 12/20/2008 09:57 PM

Comments (13)

staging, artful journey designs and staging, lori kim polk, inspiration, real estate, sacramento, roseville, home stager

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13 Comments on Still standing... staging survival.

DEC

Hi Lori! We are standing because we are pretty new. HOWEVER, we are in it for the long haul and I don't see quitting as an option. We love it and provide a wonderful service. That will always be needed :) Getting "rich" quick wasn't the goal!!

Wendy.. good for you to be in touch with reality. Your goals are what will get you where you want to be. I have always considered staging as an investment... it is my way to be artistic and to be a designer. If this industry offers me enough to keep up on my overhead.. then it is worth it to me. I too, am in it for the long haul. I commend everyone who can sustain. Best to you.

Hi LKP! I think many people who end up dropping out do so because it is a luxury service in most markets these days. Staging is far more utilized where you live than most of the country. Also, many people must earn money beyond their staging business overhead because they don't have a spouse or partner who pays the base living expenses such as: mortgage, light bills, cable, car payments etc. I have noticed a big difference between the stagers who have other financial support at home vs. those who must earn their business overhead AND pay their daily living expenses as well--all on their own.

Though I am sure many folks think that stagers are getting rich with the needs of real estate these days, the reality is that most sellers can barely pay their mortgage much less hire a stager. This is prevalent here in Florida especially. In this economy, it doesn't surprise me to see so many dropping out. The same goes for real estate agents as well. As long as you have the financial resources to make it through this time, than all the better when staging really kicks into gear. : ) CA is way ahead of the country with staging....and hopefully, the rest catches up soon! Keep up the great work out there! Regards-Kathleen G

Lori ~ Good question. I haven't folded because I didn't quit my day job, thinking that success would come overnight. Of course I wanted it to, but realistically I have bills to pay and two kids in college. My goal has been to get at least a years worth of my day job salary in the bank and my youngest at least three quarters of the way through college before I attempt to leave the day job. The fact that most people want to meet on weekends or evenings is a benefit to me, as I continue along part-time with my true love.

Even though its hard to be believe the staging industry is actually growing. The amount of stagers coming into the business is growing much faster than the amount of stagers that are leaving. In this economy its all about going opportunity. We have more opportunity in our industry than ever before because we are no longer and "nice to have" we are a necessity when selling a property. We see it all the time as we travel the country doing the Expos.

I was in a meeting with a good size corporation the other day about becoming a national sponsor for our Expos. They jumped on board with both feet because the staging industry is a natural fit for their business and they see how crucial it is.

If they can see it then we stagers should see it too. If stagers are going out of business then were they ever really in business? Was the business set up correctly? Did they have goals, a marketing plan and business model? Did they stay on top of their education? Did the pursue all leads into different areas of staging - even areas they never thought they would be? Often stagers jump into business without understanding they are doing just that - starting a business. We had a good ride for a while as the phone would just ring. We'll now we need to be ringing the phone - it's a lot of work but success is there for the taking.

Diversify - I speak about it on the road at the Expo I speak about it in person with groups of Stagers in the area. How many reveune streams do you have in your business and how many businesses do you have?

If you are going out of business - work on your business instead of at your business and watch it grow. Kym

Kathleen... you are so right! I didn't quit my day job either because THAT is my other income. My team works during the day when I can't. Sometimes I end up working 18 hour days. I also have another revenue stream from my travel site... that takes care of some bills. Having the financial resources during this time is how we can weather the storm ;)

Kathy... sounds like you have a plan for sure. That is where many have failed. They don't have a plan or they think it was a get rich job at the start.

Kym...great words of wisdom! I believe that the stagers coming in to the industry now are much more savvy to the business end of it. They have researched, attended the Expos, and have had some business training. With RESA, continuing education, and the staging Expos, this allows people who are interested in staging to make an "educated" decision. Revenue streams and diversification are also very important. Love your line: "If you are going out of business - work on your business instead of at your business and watch it grow." Your coaching sessions are also extremely helpful to others ;)

Lori,

I completely agree with Kym. I see too many stagers that don't have a clue what their cost of doing business is, have never developed a business plan and think of it as just $$$ in their pocket at the end of a job. Little do they know what it costs to run a business or the first clue of how to do that. And some training companies leave you with the impression that as soon as you walk out the door on the last day of training, you can be making a six-figure income. When that doesn't happen for them, they soon get discouraged and rightfully so. The Expo's are so worthwhile and as we have traveled to several, it is obvious how starved for education and help so many are.

I agree that there is much more emphasis on the aspect of running a Staging company as a business now. With the expos, RESA etc. having a presence in the market now, it gives people thinking of entering the field a wider view of what to expect. It is a business that continues to grow and to diversify. Realtors will discover this over the next year. Those Staging companies that are set up to make a profit will be the ones left standing at the end of this year.

DEC

Interesting, I've had some of those calls too. I sorta laugh, it always catches me off guard. I certainly agree with everyone that has been doing it for a while that the money to be made is not what most people think, and around here, if redesigns is all you do, you might want to think again. You've got to be able to do what the market call for...vacants.

I can see how the homes properly staged will sell faster, but we have a totally different method of getting hundreds of lookers through a house. We conduct estate liquidation sales for heirs, executors, attorneys and individuals. We discovered that a house contents sale puts hundreds more people through the house than a traditional open house. We ask the brokers to attend the sale and take names. Almost every person coming to the sale, either wants to buy the house or knows someone who is looking. See our website: http://www.RhodeIslandEstateSales.com At the end of each sale we have the property cleaned out and swept by a local clean up crew of veterans who do the dump run and donate any leftover usable stuff to furnish new living quarters for homeless veterans. See their website: http://www.TrashCleanouts.com We have expanded on this very successful method for flooding the house with people and now fill up empty homes with stuff and run a staged sale. Consider this messy but worthwhile concept!

JAN

Lori -- Thanks so much for this post. Just this week I received an email from a Bay-Area stager whose business was folding after 8 years, offering his assistance for projects. This makes me so sad -- we can all identify with putting our hearts and souls into our businesses, and this economy is tough. Last summer I moved to the Bay Area from Austin, where my staging and residential design business was thriving. After breaking the ice into the kinds of projects I loved the most there, I had to turn away business from a number of Realtors and homeowners as our family prepared to move out of state.

Of course much is different in the world in the past six months, including where my business is located. But it has created some opportunities as I talk with a variety of real estate professionals here. As mentioned above, some local staging businesses have folded, or their inventory is tied up in properties that are selling much more slowly than in the past. One realtor expressed interest in fresh inventory from a new stager in town because "I feel that I'm selling the same living room in every house I list -- the stager I've been using uses the same things in every house, regardless of how different the properties are." While I absorb the feedback I hear, I'm apprehensive about the "novelty" factor this realtor brought up, as I'm definitely in this business for the long haul. I have to believe that experience, integrity, diplomacy and respect are valued everywhere, in every market. After investing in staging inventory and business infrastructure the past several years, there are fewer big expenses looming for me than newer stagers. But I'll always work to support this profession and all who work in it, regardless of whether they're "competitors" or not. I love this business, and our new home. Let's all wish for the best in 2009! Leslie

APR

I am looking for stagers in Fort Worth texas. Know of anyone? Thanks

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