It’s a Hot market and houses are selling quickly. My seller doesn’t want to spend money on Staging before listing.
These are the statements I hear when I meet with real estate agents and introduce myself as a Real Estate Stager. I believe this is due to a lack of understanding the entire process encompassed by real estate staging and the full benefits it provides. Combined with those “$2500 Staging Cost” that most of us have seen on cable TV rehab shows. Granted, if you are looking to stage a vacant property, yes, it will be more expensive since you need to rent rooms of furniture, have it delivered and styled.
However, over 80% of sellers are still living in the property while listed for sale. This is completely different from “as seen on TV” and not nearly as expensive. Let me break it down into parts to provide an overview of what drives the cost of each phase in the process.
The answer is that the cost depends on the level of styling provided but is not as pricey as most people think.
The most valuable aspect of the process is the Initial Consultation. This is similar in value to a pre-listing home inspection – the home inspector alerts you to any structural/ maintenance/ safety improvements needed that could result in expensive repairs if identified by the buyer’s inspector. The seller determines which issues to correct, and the investment is reflected in the list price.
The Real Estate Staging Consultation picks up where the home inspection stops… evaluating the aesthetic details to ensure mass appeal to current buyer. This 2.5-hour discovery session ends with a customized 50+ page Room Ready Handbook™ that contains a detailed action plan to improve the condition of the property to deter any buyer concerns that could result in a lower offer. Quite often recommended updates to modernize the property are as simple and inexpensive as a fresh coat of paint and updating light fixtures.
In my opinion, the most valuable aspect is the Color Consultation – yes, your agent can recommend a paint color and light fixture, but they are likely relying on the latest trendy color as a one size fits all approach and it might not work with the cabinet or flooring color that is more costly to update. We’ve all seen photos of a property with newly painted grey walls and orange oak kitchen cabinets and trim – EEK! At that point, you’ve invested in the paint, but the color is just making the cabinets look more dated! Not exactly the best ROI. By investing in an expert color consultant to select the paint, you will avoid that scenario and the results will be a modern, cohesive space that works with all the elements in the property.
The RRH also includes detailed notes by room for items to remain, pre-pack, or move to another room to enhance the presentation. Along with a suggested shopping list of any items that will modernize the space to appeal to buyers.
Pricing starts at $395 – a small investment that is sure to be returned in the offered price.
OK, I have my customized action plan, what else impacts the price?
To be perfectly honest, the largest investment to prepare a property for sale, depends on “The Work” required to complete the updates. However, much like the pre-listing home inspection, this investment typically is reflected in the list price to be returned in the offer. The benefit of hiring an expert is that we understand the updates with the largest return on investment and will maximize your budget at any level.
The final step is up to the seller on the level of professional styling desired before marketing photos:
Seller Styling – this level requires no additional investment other than purchasing the suggested items to refresh the space for photos. This is best for the DIYer who has a knack for styling or a real estate agent with a warehouse of accessories to provide for the seller. The Stager includes detailed notes for placement and styling prior to marketing photos in the Consultation recap.
Photo Prep - this level is generally $250 for the professional service and requires about 2 hours for most properties. Property Stylist returns prior to marketing photos to arrange furniture and purchased accessories to enhance presentation for great photos. The seller has the option of purchasing items from a shopping list or having the stager shop for the items needed and add the cost to the invoice + sourcing fee.
Full Showcasing – this level usually starts at $800 since it includes accessory rentals to enhance the existing furnishings. Service is the same as Photo Prep, but also includes a combination of newly purchased and rented items from the stager’s inventory. The Property Stylist creates a complete plan by room and provides a customize plan of curated items to modernize the existing seller’s furnishings. Purchased items become property of the seller, rented items will be detailed in the contract with a monthly renewal fee.
Your house is your largest asset – don’t leave money on the table!
In the big picture when thinking of the thousands of dollars of equity at stake, hiring a professional stager is a small investment with a huge potential for return. In my opinion, it’s worth the investment in the consultation just for the peace of mind knowing you will avoid the stress of the property not selling quickly or the potential carrying cost – the additional equity return from any updates is a bonus!
Contact Simply Modern Staging today to ensure you are not leaving money on the table when selling your property!