
You Don't Know What You Don't Know! YDKWYDK
I've been saying that for years to agents and homeowners about home staging. I still say it to myself quite frequently. We all need to be lifelong learners, don't we?
I just got involved in a friend's real estate dilemma. He owns a lovely home in Ponte Vedra Beach worth about $400,000. It has been a rental for the last few years while he was out of the country. He came home to some unpleasant surprises. The damage repairs and cosmetic touch-up amount to about $10,000, not as bad as it could have been. If he doesn't spend the $10,000 plus a small amount for staging, the agent predicts the house will only sell for about $300,000. He will lose $100,000 if he doesn't spend $10,000. Amazing!
Thank goodness for agents who will do a little homework and be honest with their clients. "Do you want the red pill or the blue pill?" (Quote from the movie Matrix)
We always want the truth, don't we! Don't you think your homeowners want to know all their options?
Sherry Webb, a top agent with Ponte Vedra's Watson Realty office, is the listing agent. She will complete the prep with coastal style staging. Good job, Sherry.
Another recent similar situation: An older vacant condo in an unpopular area needed about $1000 worth of cosmetic repairs and small amount for staging with art, plants and accessories for three months... about $600 for labor and leasing cost. This homeowner could have lost $20,000 or more if she had done nothing. Thank you Muriel Thorne, of Coldwell Banker, for recommending a staging report and vacant home-staging. We had a sale in 23 days.
We must tell our homeowners and occasionally agents YDKWYDK! Here is the unvarnished truth!
- If they don't stage the home and complete the staging report recommendations and updates, it will take 2 to 3 times longer to sell.
- They will also lose 5-8% more on the selling price after 60-90 days on the market.
- Agents are 50% more likely to show a staged home than an unstaged home they have not seen.
- The online pictures will not attract buyers unless the home looks like a model.
Thanks for letting me rant a little. Jacksonville is finally getting the message about home staging. I am seeing a major uptick in activity.
Our local Real Estate Staging Association, Jax RESA, is one of the most active chapters in the state. Join us for the next meeting if you are local. We always meet the first Friday of each month in the morning. See details in Backstage.
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