Home Staging is fast becoming one of the most valuable marketing tools for Realtors® and homeowners looking to sell properties fast and for the right price. Once considered an “extra” it is now a key ingredient for most listings as they compete for top dollar.
Home Staging is not decorating. It is not a hobby. And it certainly is not to be ignored. It is serious business. Staging enhances the image and perceived value of the property, ensuring that it has every chance to sell profitably. Staging is not about setting the table for a make believe feast, displaying an open book with vintage eye glasses on top, or other contrived vignettes that make the space look stiff and cliché. Home Staging is about attacking issues in the house that detract from its appeal. It is about highlighting the positive aspects of the property that may not be obvious, and minimizing the negative ones. It is about selling the right product to its intended market, and making it stand out among its competition.
Like the cereal aisle, crammed with so many options all fighting for our dollar, many homes have the same key ingredients with the same promises as the one next door. But the one that is packaged most effectively relative to price (whether corn flakes or colonials) creates an image of higher value and greater appeal. We look at our options side by side and receive an impression almost immediately. We must be grabbed by the visual before we will look further to see if this is a product we want. It’s no coincidence that eye-level shelf space at the grocery store is sold at a premium. It offers products high visibility, curb appeal and the best chance of catching someone’s attention.
If the appeal is not there, do you move to the bottom shelf with the generic brands in the plain packaging and lower your price accordingly? Maybe. Or do you package it nicely, heighten its perceived value and sell for more money? An unappealing house that isn’t moving may be affected by many factors. And one of those factors may be visual appeal. Fixing that problem may be cheaper than lowering the price and moving to the bottom shelf. If you’re thinking about reducing the listing price of a home that isn’t staged, consider using only part of the intended reduction amount on the actual price drop. Then use part of it on staging before you hit the market with a revised listing. You may be able to stage for $5k and reduce the price by $10 more effectively than reducing the price by $20k (with funds left over.)
Here is a good story: This property pictured here was on the market for over a year with no enhancement to its appearance. It didn’t move. Sandra Wendland, of Legacy Properties Sotheby's International Realty, took over the listing, hired Kate Lowry Designs, LLC to stage it, and it sold in less than 2 weeks. This house had 12 months’ worth of expenses to keep it running and a year of lost time with its first listing. Staging from the beginning of the selling process is ideal, saving time, money and effort. But it’s good to know that you can reinvent a listing and still get it sold no matter when you do it.
About our Guest Blogger
Kate Lowry is owner/designer for Kate Lowry Designs, LLC. She specializes in home staging, interior redesign and is the downsizing expert for several retirement communities in the area. Kate gives downsizing seminars and contributes to the PPH Real Estate Section as well as various industry newsletters and blogs. Kate can be reached at 207-776-9558 or www.katelowrydesigns.com
About Legacy Properties Sotheby’s International Realty
Maine Real Estate Expertise – Legacy Properties Sotheby’s International Realty is the leading luxury property company in Maine. With offices in Kennebunk, Portland, Brunswick and Camden, Legacy Properties Sotheby’s International Realty serves the coastal communities in Maine for distinctive properties at all prices. With more than 50 licensed agents, Legacy Properties Sotheby’s International Realty is able to provide Maine Real Estate services for buyers and sellers throughout the state. www.LegacySIR.com
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