Have you thought about staging your home?
Staging can add unparalled value to the selling process.
Q: What Is staging?
A: While everyone will have their own definition, we at Madison & Co. Properties define the concept as: "positioning the home to achieve the maximum sale price with the minimum time on the market".
Q: Doesn't staging just consist of interior furnishings?
A: No, it doesn't at all. While many "stagers" concentrate on the interior (i.e. furnishings), many prospective buyers may not even pass the threshold unless the exterior has "curb appeal." This is especially true in Colorado where we enjoy nine months of "outdoor living." We at Madison & Co. Properties believe that staging includes and extends "beyond the four walls."
Q: Does staging really work?
A: Just turn on HGTV or TLC, and see the results. At Madison & Co. Properties, we believe in the power and value of staging. We all have individual tastes, and our homes reflect this - it's human nature. We believe staging positions a home to attract the highest number of prospective buyers and ultimately achieve the maximum selling price. This is why developers have been staging before there was even such a term!
Q: Must the prospective seller who is considering staging purchase all new furniture?
A: No, of course they don't. Some staging may just require repositioning of existing furnishings. For others, we may (in consultation with the client) consider the addition of new furnishings (for purchase or rental), and for others, some updated paint and accessories can make all the difference. In each and every listing, we discuss options with the seller to ensure the achievement of the highest sale price and minimal effort and disruption.
Q: Any great success stories with no out-of-pocket expenses?
A: Yes, recently there was a home in which the bedrooms were allocated in a non-traditional way. We understood this at our initial visit with the client and received similar feedback from the first open-house. Thus, we worked with the client to move and reposition the existing furnishings, and success was just days away.
Q: What is the average cost of staging?
A: As mentioned, for some clients there is no cost (i.e. repositioning furnishings, trimming shrubs, and so forth). For others who request, we can offer the services of a professional interior designer staring at $300 for the initial consultation. We believe this is an investment that will yield positive results, and the cost of the consultation and any additional work can be deducted from the basis of the home as an "improvement" prior to sale.
Q: You mentioned staging "beyond the four walls." Can you elaborate?
A: No matter the market conditions, curb appeal is a motivator. The reality is the condition of the exterior, including structure and landscape, will influence one's first impression of the property. For example, a home in central Denver needed some curb appeal. We suggested minimal work, including trimming of shrubs, some ground cover, and minor hardware changes (i.e. door knocker, kick-plate, and a pineapple door-bell cover). Once the improvements were done and the front door updated with a new coat of gloss paint, the home literally stopped traffic. Total monetary output: $200. One additional suggestion is that outdoor lighting accenting the home will attract viewers from dusk onward; this is especially important during the winter months.
Q: Professional vs. Amateur Stagers - any thoughts?
A: While we are well aware that the Internet offers many resources as do books, the reality is a local expert will 1) know the desires of the local/regional marketplace and 2) will have the contacts and resources to provide the most "return on investment". Why be "penny-wise and pound-foolish" when thousands of dollars are at stake?
Q: Any last "pearls of wisdom?"
A: Staging is an art and a science. Each home has unique attributes which can be accentuated by staging correctly. Some of the most challenging homes are those with unique designs - the homes which may attract 1 in 100 viewers. Our goal is to put the odds in the seller's favor and enhance every opportunity to attract qualified buyers in the shortest amount of time.