This January has been an onslaught of new HGTV programs including one by the Scott Brothers, called Buying and selling with the Property Guys. This new show has integrated Home Staging as part of their new episodes to show homeowners how their clients’ homes are transformed and sold quicker and for more money.
My latest client started thinking about selling her home by hiring a landscaper last fall and began packing up closets. She realized more needed to be done, but did not have a plan. She called and once I completed and explained the consultation recommendations, she knew where she needed to invest her time, realizing what was going to bring her value when her house hit the market. She said, “You helped me set goals; reinforced all my work and gave me the power to do more thereby helping me to move forward.”
Sellers want quick and inexpensive solutions to upgrade their property and in many instances this is quite possible. Painting is one of the least expensive solutions to upgrade their property and in many instances this is quite possible. Painting is one of the least expensive means to a more marketable property. Nairn Freemann, owner of one of New York’s leading home staging companies, CSP trainer and colleague says that, “ninety percent of the population cannot visualize! They base their judgements solely on what they see and how they feel.”
Buyers are demanding more value and are not as interested in paying top dollar for a property that requires a lot of work. According to Shark Tank’s Barbara Corcoran, for every $1 a home seller does not invest in work that needs to be done, a buyer will deduct at least $3. Many of today’s buyers are searching for a turnkey property and do not have the expertise or time to carry out renovations. One week I received a call from my client and she was thrilled with the outcome of this room, she said, “I finished painting the back room, it looks amazing! I picked up a few more things on the list and I am progressing well, I will keep you posted, thanks for giving me so much inspiration and energy.”
The initial consultation was in October. This property went on the market January 9th. It received 6 viewings and 2 offers on the 1st day and closed within 2 days for the full asking price with no conditions.
Statistics: HomeGain (www.homegain.com) results for staging over the last three years shows exponential growth from a 159% ROI (return on investment) in 2008 to a staggering 586% in 2010. With the advent of TV shows sellers are more informed than ever and HomGains’ latest stat, April 2012, the showcasing component alone stacks up at 196% ROI.