real estate and home staging

By
Real Estate Agent with Realtor Exit 1st Class Realty ( 321-806-9121)

As a homestager, I feel that it is very important to show case a home to its maximum potential.  The joy and excitement  one gets after staging a property is pretty amazing.  You know the reaction I'm talking about when the home owner walks in and says "WOW"  It's amazing!!!  For us the hard work is done and we wait to see if our work has paid off.

This is where the real estate side comes into play.  I always tell and remind my clients that no matter how much a stager changes a home and gets it ready to show,  there's always the issue whether the home has been priced right.  The reality is, not all homes are.  Case in point, the home I recently staged was on the market for a year priced at $1.7 million and not one offer.  The home owners finally agreed to have a stager come in after having their realtor convince them of the importance of homstaging.  Since the staging, the price has dropped to $1.4 million.  Great right?!  Wrong!!!!  The home is still OVERPRICED by $4oo thousand.  I am not a realtor but I too knew that the asking price was way to high.  Unfortunately, the home owners at this point do not want to lower the home because their is not a mortgage.  Keep in mind the home was originally purchase back in the late 70's for around $190.000.000.  Realisically,   according to the realtor, he  recommends that it be priced around $ 850,000.00. 

Now you are wondering why I am writing this.  Simple   A home needs to fit the price of the neighborhood.  When a home in the same neighborhood with the same size etc is priced in the high 500's  (ok without a waterfront location) you can't expect to get this high of a value.

We as homestagers can only do what we can do to make a home more updated and welcoming, but home owners need to realize that we can't make magic happen.  It is very important for homesellers to listen to their realtors, especially if they are very familiar with the area and the resells.  Sure realtors want to make money and so does everyone else, but at the end of the day, the one who is responsible for the home selling is the home owners. 

Please don't come back and say homestaging does not work ( which thankfully this hasn't happened to me yet) instead look at all the stats and make a realistic decision.

Hopefully future homesellers will look at all the information, and price their properties accordingly.  I don't know if this property will sell.  I hope it does for the home owners, but my gut is saying "Why spend that much on this property when I can find another beautifully staged home with an asking  price which reflects the value of the neighborhood ( ok a couple of thousand here or there, is ok, but not a half a million over everyone else) I have had alot of realtors visit this beautiful home.  They all were amazed at the transformation and were very pleased, but they all agreed it was still way over priced.

I know there are many of home stagers and realtors alike that feel the very same way.  All I can say is, we can just do our best and hope these homes sell to whomever falls in love with them.

"Dress up your Home by Staging it"

 JB Staging Concepts HSR, ASHSR

 

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Rainer
6,162
Robin Gulledge
Remax Capital City - Cedar Park, TX
Cedar Park, TX ABR,CRS,GRI

You are absolutely right, the bottom line falls on the homeowner. Staging is a wonderful piece of showing off the home, however the realtor and stager can only do so much. PRICE DOES MATTER.

Sep 17, 2008 06:48 PM #1
Rainmaker
9,866
Janet Brown
Realtor Exit 1st Class Realty ( 321-806-9121) - Melbourne, FL

Robin I agree 100 % thanks for the comment

Sep 17, 2008 07:00 PM #2
Rainmaker
286,754
Barb Van Stensel
Chicago, IL

Janet, thank you for explaining it in a great way.  One of the issues I have had in the past with a former stager was that she expressed her opinion on how much the home should be priced, what should be done for marketing, what to have at broker's opens and she would be in attendance and wanted to be involved in the entire phase of the sale of the home.  There are boundaries to be set and you set them well and I thank you for that. 

I see overpriced properties all the time but that's because (a) the Realtor doesn't sell in one area but takes what they can get because they need the money; (b) they don't know how to evaluate a property properly; (c) some are too weak and can't stand up against the seller's when it comes to listing their home yet are excited that they got a listing, even though it is overpriced; (d) inexperienced.

For example:  four unit in Chicago in declining yet nice neighborhood is $200K over the market.  Land is worth only $150 for the lot and it's going for $375K.  How can this happen?  the agent doesn't know the neighborhood.

Another example:  Property need renovation work in the amount of $125K yet the Realtor thought that $50K would cover the costs.  It's the lack of experience and if lacking, should disqualify themselves like some good appraisers do.  What happend to this property?  Had an offer on it but the agent thought it was too low!  One year later after carrying costs, etc., the property sold for half of the offer!! 

Staging and landscaping are two big "WOW's" in my business and that's what makes the deals go under contract fast - well, good pricing helps. 

Thank you for a good post!

Sep 17, 2008 07:12 PM #3
Rainmaker
46,138
Wendy Timmons
Allison James Estates & Homes - Temecula, CA
Temecula Realtor

Great post! Everything you said was true :)

Sep 17, 2008 10:37 PM #4
Rainmaker
954,720
Kathy Clulow
RE/MAX All-Stars Realty Inc. Brokerage - Uxbridge, ON
CNE - ASP - SRES .... Uxbridge Ontario Real Estate

Janet - And some think price reductions can be averted by staging ... nice to see someone who recognizes it's the total package that affects the saleability of a property price condition comparables location marketing to name just a few.

Sep 17, 2008 11:09 PM #5
Rainer
4,209
Dawna Graham
River City ReDesign & Painting - New Westminster, BC

The markets have all changed, will change again and again and again. How can the home owner know what their home is worth if they don't do the research? Pricing a home based on wants or simple greed will always cause it to sit and sit and sit. If they can afford to sit and wait - why are they selling in the first place? Why not declutter this crazy market and take it off until the market can bare that kind of price? I'm beside myself with how many listings in my area have been sitting overpriced for months (some even over a year) waiting it out. What's the point?

Sep 17, 2008 11:20 PM #6
Rainmaker
9,866
Janet Brown
Realtor Exit 1st Class Realty ( 321-806-9121) - Melbourne, FL

I agree with some clients not knowing the area, I also understand about some realtors also under pricing for repairs, but in this case the clients parents died and they were trying to  pocket as much money as possible without really spending money to inprove on thing that need to be either repaired or maintained.  As a stager, our job is not for our clients to spend a lot of money.  We teach them tools so that they can apply them to the home.  Of course its great when you have a client that is so willing to spend more money to improve on their property so that it will sell quickly.  One of my clients did this infact, and like the work and improvements so much he decided to stay in his home.  But in this case they didn't want to spend really any money, so of course the home will sit much longer.  I trully love what I do and enjoyed working with this client and all my other clients.  I think the bottom line is ,  we all bring the tools and resources to the home owners, but when they decide they don't want to do the MAJOR repairs, they then have to understand the home will sit much longer.

thanks everyone for all the great responses.  Hope everyone has a great day.

Janet

Sep 18, 2008 06:28 AM #7
Rainer
2,184
Ty Tennyson
Ty Tennyson - Orlando, FL

Hi!  Nice article, Janet.  Thanks for stopping by my page to welcome me to Activerain.com!!!  I appreciate your thoughtfulness.  It was nice of Mike in Tucson to recommend me to this wonderful website.  Peace!!!!!!!!  Tanya "Tiyheen" Tennyson

Sep 18, 2008 12:24 PM #8
Rainmaker
268,838
Kathleen Lordbock
Keller Williams Realty Professionals - Baxter, MN
Keller Williams Realty Professionals

Many factors go into play on a 'Home sale". Staging, pricing, location, and the condition the sellers keep the home in after staging are just a few. The personality and expertise of the Realtor figures in strongly too.

Sep 18, 2008 09:04 PM #9
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Rainmaker
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Janet Brown

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