So, the Edmonton Real Estate Board has released statistics for the end of June, and "Days on Market" were up to 47.
I just wanted to share another success story as I believe that the timing is right.
There are still many sceptics out there who don't believe in the importance of Home Staging.
Yet, it was shown that in 2009, 98% of buyers completed their entire search for their new home on the internet. What does that tell us? It tells us that photos are exactly what is attracting the buyers (or not attracting them).
Of course, the buyer will sit down at the computer, go to the MLS listings, type in their criteria, and hit "enter". So, they already know what geographical area they are interested in, the type and size of dwelling they need, and what price-range works for them (either what they know they can afford, or what they have been pre-qualified for).
So, now that they have arrived at the list of properties that fit their criteria, they now rely on photos to attract them even further. Buyers report that they look at the photos even before considering reading all of the "specs" on the property. If the photos are lack-lustre, dark, or overly personalized and cluttered, they won't even bother reading further. From the photos within their criteria set, they then create their short-list.
The listings need to attract the buyers!!! This is exactly where Professional Home Staging Services are invaluable.
Now, I will get to my success story. Keep in mind, average days on market in Edmonton right now is at 47.
I was hired by my client to come in and assess their 860 sq. ft. 2 Bedroom, 2 Bathroom Bungalow in North Glenora in Edmonton in the middle of June. I performed for them our Basic Guidance Home Staging Package. They ended up with a To-Do list that they worked tirelessly at for the next couple of weeks.
Their listing officially went live on the internet on June 29/10. They scheduled an Open House for the Sunday, July 04, which was also officially their first showing. They received their first offer the following day, on Monday, July 05. Negotiations started and they ended up signing the offer 2 days later. The accepted offer was 97.78% of their asking price.
So, in conclusion, this listing was SOLD in 7 days, for almost full asking price, in a market where the average days on market is 47. This is largely due to the large amount of de-personalization, de-cluttering, furniture rearrangement, and re-distribution of accessories and soft furnishings prior to having the listing photos taken.
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