Super Staging Cannot Overcome an Overpriced Home ~ Get the thing priced right.

By
Real Estate Agent with Integrity Real Estate Services 116 SE AVE N, Idabel, OK 74745 141871

Super Staging Cannot Overcome an Overpriced Home ~ Get the thing priced right. 

 

For one reason or another you've decided it's time to sell your home.  So you googled "How to sell a house or how to sell my home".  

At the point your home becomes "for sale" in your mind, you need to stop thinking of it as your "home".  It is now a product on the market (house for sale).  

  • Whether you have listed with a real estate agent or not.  
  • Whether you've told anyone that it is for sale or not.
  • Whether you're considering staging, or any other aspect to do with selling it.  You've decided to sell... so it's time to think differently.
  • It becomes a product on the market (how to sell my home) the moment you decide that your home is for sale, it needs to change it's role and function in your mind.  

That's the first step to reach your goal of selling your home.  

Of course, I believe you should immediately call a real estate agent, but I've beat that drum until you (if you've read very many posts on my blog) are well aware of my stand on that one.  So let's just skip that one this time.  

Today I want to drive home another point that many have shouted in cyberland numerous times.  

Get the thing priced right!


Yes, I called it a "thing".  Please start thinking about it that way.  It will make it easier to look at it objectively because buyers are going to be looking at it objectively, again as a product on the market.  

Now that we've gotten past that, let's deal with what this post is about.

 

~Selling your home is not like playing monopoly, where the roll of the dice tells a buyer what house they are going to move into and then they pay for it with funny money. ~

 

Buyers are looking for homes that suit their needs and are priced right.  Getting the money to pay for that home is a more involved and complicated than it's ever been... SO...

Number 1 - Price it right.  Price the house according to the local market that it is located in.  You think your house is worth more than any other comparable house in the neighborhood.  Your neighbor down the street says the same thing about his house.  In reality, the house on the next block is worth more than either one of yours.  You and your neighbor both have not completed  any additions or updates that add value to the house. The house on the next block updated the kitchen last year, built a nice sunroom and patio on the back on the back of the house and has a top of the line solar system.  

Price it right or it's dead on the market. Let me qualify that last statement.  There are a few brave souls that will make an offer according to the market, even if you're not priced that way.  BUT usually if you're way overpriced, they are not going to bother to make an offer on the property.  Usually if you're more than 5% overpriced, no offer.  

Price it right! 

 

But you've heard that staging sells houses.  No.  Staging does not sell a house if you do not have it priced right.  The savvy buyer (the one listening to their real estate agent) sees beyond the pretty arrangement of furniture and decor.  They are looking at THE HOUSE.  The house will show better in photos, may get viewed more because it looks attractive, but staging will not affect the appraisal on the home, staging will not cause your house to sell for the same amount as the house on the next block with the patio, sunroom, and updated kitchen.  

Make sure your home looks as good as it can. Clean it, de-clutter, and arrange as though it were going to be featured in a magazine that is distributed world wide. That magazine is going to have large full page glossy pics of your home (house) and everyone in the whole wide world is going to see them.  (The right real estate agent will actually accomplish something very similar to that with internet marketing.) 

If you want to pay someone to stage it.. fine.  Go for it.  BUT don't start adding to the price of the house when you do.  You cannot add up every little thing that you've ever spent on your home and expect it to bring the sum total of those expenditures. 

It may very well do that...

But then again, it may not.  If it's priced according to the market (for your home, in its present condition and location),  and if you've got the property presentable for that glossy mag, you are really ready to sell.  Get proper exposure for it to the world so that buyers can find it and you should see an offer soon.  

Comments (50)

Beverly Carlson
Carlson Properties 325-721-2429 - Abilene, TX
Abilene's Staging Realtor
Pricing the home for the location and condition is good business. Staging the home is part of the marketing strategy and is also good business, It's not price versus staging. Both must be right! Think of the house as a product. Say you are selling your car - one wouldn't raise the price of the car just because you washed and waxed it! Washing and waxing is showcasing the car as a product to sell. Staging is similar only showcasing a house with furnishings and decor.
Dec 05, 2011 01:24 PM
Karen Otto
Home Star Staging - Plano, TX
Plano Home Staging, Dallas Home Staging, www.homes

I agree that price is number one and will reinforce this with my clients. My recipe for a home sale is 1. Price 2. Location 3. Condition (and that's the one I focus on as a stager) However I'm curious about the title of this post and wonder if somewhere along the lines you've gotten misleading information from someone (or a stager) about "super staging selling homes".   Staging is part of the marketing tools necessary to prepare a home for sale however if someone says that "super staging" is all that is necessary to sell a home (overpriced) is erroneous and the majority of professional home stagers would agree that price is king and no amount of staging or updates (if the market you're in doesn't bear it) is going to help anyone sell an overpriced home. 

Dec 05, 2011 01:25 PM
Anthony Daniels
Coldwell Banker - San Francisco, CA
SF Bay Area REO Specialist

It always boils down to price.

You can sell a former crack house, in the middle of a war zone if it is priced right.

Good post, thanks for sharing it.

Dec 05, 2011 01:46 PM
Evelyn Kennedy
Alain Pinel Realtors - Alameda, CA
Alameda, Real Estate, Alameda, CA

Judi:

Great advice fo sellers.  Start to think of the home as a house for sale.  I wish all sellers could detach themselves from their home so easily. 

Dec 05, 2011 02:22 PM
J. Philip Faranda
J. Philip Faranda (J. Philip R.E. LLC) Westchester County NY - Briarcliff Manor, NY
Broker-Owner

Sage advice. Staging works well, but it does not inflate the market or hynotize the buying public into overpaying. 

Some things make you sell faster. Staging is one of them. IF you are priced right. 

Dec 05, 2011 02:28 PM
Leslie Ebersole
Swanepoel T3 Group - Saint Charles, IL
I help brokers build businesses they love.

Judi: perfectly written advice.

This time of year there are so many price drops on the hotsheets, I shake my head. Some houses that my buyers would have loved -- and bought -- this summer are finally priced right. Too bad they were passed over by being in the wrong price category earlier in the year.

Dec 05, 2011 03:24 PM
Lisa Cromwell
RE/MAX Premier, Northern VA, Loudoun County - Leesburg, VA
Realtor, CRS, Loudoun, No. VA

Great post and right on the money.   Still looking for the magic formula to take the emotion out of pricing.   Too many sellers just can't understand the need to apply the laws of supply & demand when it comes to selling their home. 

Dec 05, 2011 04:19 PM
Steve Warrene
Your Town Realty - Lower Burrell, PA
Pittsburgh Real Estate Investment Specialists

Judi, You said it so professionally.  I tell my sellers that emotions are not part of the sale of the house and that we have to price it right regardless of their feelings.

Dec 05, 2011 09:06 PM
Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

Judi Pricing is the most important factor in getting the home sold.  Staging is just a tool that will make it sell faster and fior more as long as it is priced right.

Dec 05, 2011 10:35 PM
Liz Wallace
Century 21 Sherlock Homes - Rockville Centre, NY
Broker C21 Sherlock Homes, Rockville Centre, LI, N

Judi great post.  I missed it but picked it up on a re-blog from Jennifer.  If the price is not right they will never show up to see the staging.

Dec 05, 2011 10:47 PM
Bob Force (REALTOR®)
Weichert Realtors - Aspen Hill - Mount Airy, MD
The FORCE in Maryland Real Estate

Judi:

Yes, Yes, a thousand time yes.

Staging is not one of the criteria I search on for my buyers.  Put the price above market and I might NEVER even give it thought or send it to my buyer for consideration.

Dec 05, 2011 11:23 PM
1~Judi Barrett
Integrity Real Estate Services 116 SE AVE N, Idabel, OK 74745 - Idabel, OK
BS Ed, Integrity Real Estate Services -IDABEL OK

Thanks everyone!  I did not realize this had been featured.  I'll be back later today to respond to comments. 

Dec 05, 2011 11:40 PM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Absolutely Judi.  Staging can make the home presentable and more attractive to many, but it won't make it worth much more than the market value.

Dec 06, 2011 12:03 AM
Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Eighteen Years Experience in Brevard County

So true and yet, for some, so hard to apply. An ugly house priced right will sell sooner than a pretty house priced wrong.

Dec 06, 2011 12:24 AM
Jerry Morse
The Morse Company - Janesville, WI
BBA,GRI

Staging and pricing together are the best solution.  However, the right price can solve almost any problems. 

Dec 06, 2011 02:30 AM
Joan Inglis, Master Accredited Staging Professional
Carolina Spaces, LLC www.CarolinaSpaces.com - Charlotte, NC
Home Staging, Model Merchandising, Interior Design

Really great post!  As a professional stager and designer, I totally agree.  To get the sale, a home has to be priced right and it has to look right.  When priced too high, a staged home frequently suffers from price reductions.  Stage before listing, price competitively, and it will sell.

Dec 07, 2011 12:42 AM
Kim Boekholder Utah Real Estate
Results Real Estate 801.580.5624 - Draper, UT
Broker, Results Real Estate

Excellent post! Its such a hard concept for sellers to grasp that while their home may show extremely well and it has upgrades galore the price still needs to be right.  as I read thru your post I said to myself ... amen to that! great job 

Dec 07, 2011 02:12 AM
Charles Stallions Real Estate Services
Charles Stallions Real Estate Services Inc - Gulf Breeze, FL
Buyers Agent 800-309-3414 Pace and Gulf Breeze,Fl.

I would not even consider taking an overpriced listing if I can't sell it in 60 days I don't need the headache.

Dec 07, 2011 01:56 PM
Yvonne Van Camp REALTOR
To Buy and Sell Real Estate, see me at Southwest Missouri Realty - Springfield, MO
"Home"work, I have the Answers!

I so agree, without the right price, you haven't got a chance.   Difference is, when it is ugly, count on it the sales price being discounted, and shiney pennies always hold their value, but they never are worth more than face value.   We like them though.....

Dec 13, 2011 10:14 AM
Anna Dovger
Add Value Home Staging LLC, 281-704-6607 - The Woodlands, TX
Home Staging -The Woodlands, TX

Totally agree. Actually nothing will help sell overpriced house. Either it is a Staging, or Super Marketing plan. You have to price the house right. I also do not understand some Realtor's strategy on pricing the house higher  and "leaving the room for negotiation". Buyers do not even start negotiation on the overpriced homes, they just go to the next house on their list.

Dec 14, 2011 04:44 AM