Buyers’ market VS Sellers’ market—no matter which we are experiencing—everyone is happier with a house that is beautifully staged. In December, I staged and listed a house (btw, a terrible time to list), but just a few short weeks later, we closed with a price at the upper end of the current comps in the area.
Staging is incredibly important in today’s real estate market. The last few years we have worked with a sellers’ market, but there has now been a full-on shift toward a buyers’ market. In a sellers’ market, houses will sell whether they are staged or not, but the price for a staged property will be significantly higher than an unstaged property. In a buyers’ market, staging works to make your property stand out ‘among the crowd’ of similar, available houses.
Successful real estate agents stick with their business plans, whether it is a buyers’ OR sellers’ market. They gain the advantage of longevity for their business, through building a brand that can weather the cycles. They also stand out and perform better because they are using a proven model which puts their properties in the best light. Staging allows the buyers to see the maximum potential in a property.
This property was in a modest-to-beginner level neighborhood in Colorado Springs. It was mostly updated throughout, so my purpose for staging was to make it stand out among other, very similar properties in the market, and to garner a higher selling price. With those goals in mind, here was my plan:
I did not stage every room in the house, but used my 7 Second model. I focused on wowing the buyer as much as possible in those crucial first 7 seconds. I did the living room, dining room, kitchen and master bedroom/bathroom. Then I simply warmed up the other bathrooms with some fresh towels. Because of the slow market, we only had 2 showings, but that was all we needed. The second showing was our buyer!
Here is a side note: even though appraisers say they don’t look at the staging during their inspections, we have found, when the property looks pristine and well-cared for, it makes a difference. When working with a real estate agent, ask about their strategy to make your listing stand out. Many agents include staging in their listing price, making sure the photos are beautifully done and the online description is strong.
We got a great price on the house and both buyer and seller are happy! Another win for 7 Seconds home staging!
Loving the wow factor,
Karen Conrad Metcalfe