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HOW MUCH CAN YOU SAVE BY HAVING YOUR HOME STAGED?

Reblogger
Home Stager

Instead of talking about how much Staging costs let's have a look at how much it saves.

Original content by Judy Colburn

Here is an excellent tool that you can use to determine how much money you can save by staging your property before listing it.

 

RESA Staging Savings Formulaby: Real Estate Staging Association Monday, June 14th, 2010

The Real Estate Staging Association (RESA) is a member governed trade association for Home Stagers. RESA was formed in order to support all professional Real Estate Stagers or Home Stagers in North America. The Real Estate Staging Association® (RESA®) study shows 126 homeowners had their property on the market on average of 263 days before they decided to stage. 263 days = 9 months!!!

Unstaged Master Bedroom Master Bedroom Unstaged

Those same homes were staged and sold in 60 days on average after staging. This is 78% less time on the market. This is 7 months less time on the market.

As an example, using this formula you can determine approximately how much money you will continue to spend while your home is on the market un-staged.

If your mortgage is : $1800.00

If your direct expenses are: $300.00

Total carrying cost per month: $2,100.00

Our study shows home owners had their property on the market for an average of 9 months. $2,100.00 X 9 months = $18,900.00 in expenses.

Had those homeowners staged first, their time on market would have been cut by 223 days on average (7 months). $2,100.00 x 7 months= $14,700.00

Staging their homes first would have saved them $ 14,700.00.

These numbers are all relative to individual mortgage and expenses.

Staged Master Bedroom

Use this simple formula to determine how much you will save by staging your home or listing before putting it on the market: 

Mortgage + expenses (utilities etc.) = Monthly expenses

Monthly expenses X 9 months (avg. time un-staged) = Cost to list house un-staged

Savings: Expenses x 7 months (average time on market reduced) – staging fee = Savings if you stage your house first!

** If you have a price reduction you can also add that into the loss you are taking by listing a property un-staged.

Here's RESA's Staging Calculator

This property was professionally staged and sold before it was listed!

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Pro Staged Homes      Home Staging & Redesign      San Dimas, CA 91773     909-714-1149      www.prostagedhomes.com      judy.colburn@prostagedhomes.com    

 

 

Posted by

Retired Home Stager

 

 

 

 

 

 

 

 

 

Comments (7)

Roger D. Mucci
Shaken...with a Twist 216.633.2092 - Euclid, OH
Lets shake things up at your home today!

Great material here............perfect post to re-blog Janice, thanks.

Jun 28, 2010 11:46 AM
Janice Ankrett
Burlington, ON
Staging Professional

Roger,

I thought it was worth it ;)

Jun 28, 2010 02:29 PM
Brian Madigan
RE/MAX West Realty Inc., Brokerage (Toronto) - Toronto, ON
LL.B., Broker

Janice,

That btype of analysis is exactly what people are looking for.

Brian

Jun 28, 2010 03:33 PM
Malcolm Johnston
Century 21 Lanthorn Real Estate LTD., Trenton, Ontario - Trenton, ON
Trenton Real Estate

Nice post to reblog Janice. There are many people who can only be persuaded to do anything when presented with the cold hard bottom line.  I think we all have to look at things from that perspective once in a while.

Jun 29, 2010 02:58 AM
Janice Ankrett
Burlington, ON
Staging Professional

Thanks Brian.

You are right Malcolm.

Judy did a great job in her post.

Jun 29, 2010 04:24 AM
Ty Lacroix
Envelope Real Estate Brokerage Inc - London, ON

Janice:

Interesting numbers and something I will pass on to my sellers.

Ty

Jul 01, 2010 12:26 AM
Janice Ankrett
Burlington, ON
Staging Professional

Glad to hear that Ty. There is a house near me listed at just under 1 million dollars. It is partially empty and unoccupied. It has been on the market for a year now and on its 3rd agent. Think of the carrying costs plus the cost of their present home!

Jul 01, 2010 02:38 AM