But What About My Stats!!! What would you do?

Break your stats down by price range and that way your over million won't skew the rest of them.  Also, you can use it as an example of how staging and price must go hand in hand.  If one is out of balance the magic is gone. 

Hey Debbie- that was me above, for some reason a "fatal error" occurred and my name wasn't captured.

You've asked a good question that probably many of us have wondered about. I was also going to suggest that you break down your stats by price range, and see that Terrylynn beat me to it!  You can rest in the knowledge that the staging job was well done and the feedback you've received has backed that up. 

Hi Debbie, Being a newbie I don't have an answer for you but I'm dealing with a similar issue. I staged a home that seemed over-priced at least to me. The house looks great but no offers yet. The seller wants to keep it staged because the comments have been so positive. Now the same seller wants me to stage another home which I think will also be a hard sell in this market even with staging. But I'm not the REA and it's not my job to price the home. I'm there to give it the best possible chance by doing a great job staging. If all of the comments on your staging are positive, then you've done your job well.  But I know how you feel, I'm worried that if the homes don't sell right away it will look like my staging was a failure. Some things are beyond our control. Staging does help sell a home but only if the other components are in line....pricing and marketing. I'm learning!

Debbie- I feel your pain! Tomorrow, I destage a home I staged in February. It finally sold AFTER they reduced the price! I know it looked terrific, the agent was thrilled, but it was a fix and flip and sometimes those sellers set a price that is completely unrealistic. I am thinking of excluding all fix and flips from my stats for that exact reason. The great thing about owning your own company is that you do have the freedom to market yourself the way you want. And you can certainly break down the stats anyway you want, as long as you are still remaining honest.

When first meeting with a client, I always bring up the subject of how the most perfect staging is not going to sell a house with an unrealistic price tag! Good luck!

I've been in this situation as well, I just de-staged a house (2 weeks ago) that was on the market for just over a year.  It was one of my best Consultations to date - I just knew it was going to sell right away.  However, when I found out the asking price, it seemed high.  When I spoke with the sellers - they confirmed it was priced on the high side.  I just reiterated that the best staging work in the world would likely not sell an overpriced home (in this market).  They finally reduced by $100k, and they sold.  The work I did received rave reviews, and the sellers have vowed that the staging made all the difference.  What can you do?  I received a call from another agent who saw my work, so in the end - it was worth it.  I'll leave this job out of my stats, but for this reason, I do get feedback on pricing like is it high, low, just right.  I've never had anyone say to me that its none of my business - I believe that it is my business to know.  Good luck!

Debbie, when our market hit this BIG lull I stopped distributing my personal stat's sheets.  I do not want to mislead anyone and as said time and time again there's so many things, out of our control, that lead to a sale.  SO...stats be darned for now.  Good post, I'm enjoying reading everyone's comments. 

As an agent that has also taken the ASP class, I know that condition and price go hand in hand for a quick sale.  I am to the point of turning down listings if they won't price it within 10% of the market.  Why spend money on a listing if it won't sell?  It costs money.  As Terry Watson says sometimes you just have to tell sellers "You know, I'm good, but I'm not THAT good!"

This is a great post -- it is different for all of us, for sure.  Bottom line -- staging helps, it does not hurt.

Just lay it out -- I agree with Connie -- she is a smart cookie!i

Hi Debbie,  Great question and I can tell you what I do.  First of all, my stats are "my" stats.  I do think they are important to my marketing package and business model.  I think the key is whether the STATS are relevant or not. 

We have had a few properties come off the market over the last couple years.  Two were $100,000 overpriced ($1.2 - $1.5 Million) and one of the others was a flip that the homeowner decided to "test" the market by staging overpriced then decided to rent the property out until the market improved.

I do two things.  First I have a column on my stats report that is titled "competitive".  This is where in conjuction  with the REA I determine whether the price was "in the ball park".  If the price is not even in the ballpark and the homeowner or realtor are "testing the market" I do not reflect those STATS in the numbers I use for myself.  Secondly, when I discuss Statistics with my clients I review my stats and industry stats.  When discussing my company stats I make it very clear that I take the price into account and explain that there have been a few properties we have staged that are not included in our numbers and why.

I find myself telling my customers time and time again about my vested intrest in the sale of their property.  We have a proven track record that we want to keep intact and their listing price could effect that.

It is a tough market to price a home in.  So to some things up, I reccomend placing those homes in a different column or category.  You can only control what you have control over.  Your success is not always reflective of your stats sheet.

Joe

essentialstaging.com

Your blog brought back memories (nightmares) of a statistics course I was required to take when I thought I was going to continue with business school.  I also hold the Ethics board position in our local IAHSP chapter so acting ethically and professionally is important to me.  You will always have outliers in your business those properties that fall outside the normal boundaries.  They are very often thrown out when compiling stats.  I agree with Joe and all those that commented.  You don't have to include outliers in your averages or you can explain them with a note or in discussions with your clients.

You cannot control price or location and in many instances condition (although we do our best on that one.)  You also can't control how many deals fall through these days. Most consumers understand exceptions and most stagers if they have been in business long enough have had houses that stay on the market longer than they would like or don't sell.  Most active and busy Realtors have lost a listing or had one that didn't sell. 

If you can learn anything from this take it with you, but know that you did your best and we don't control the universe.