The Value of Home Staging

As an experienced realtor, working in Buckhead and North Atlanta, I’ve seen it time and time again: furnished homes sell better than vacant ones. Keep in mind, when using your own furniture, less is more. In a down market here in Atlanta, I sold my home in three months. One of the first things I did was rent a storage shed and move out 1/3rd of my furniture, decorations and clothes.

It seems the catchall phrase for preparing a home to make its best first impression is “home staging”, which can actually mean 4 different things:

1. Utilizing existing furnishings for a home sale
2. Paying an expert to rearrange your existing furnishings
3. Leasing home furnishings and decorations
4. Allowing a tenant to live in your home

There can be pros and cons to each of these.

1. In some ways, utilizing your existing furnishings and decorations and calling it “staging” is a bit formal. Basically you’re preparing your home for sale. I’m constantly amazed at how some homeowners, and their realtors, don’t seem to put an ounce of thought into making their home ready for the marketplace. I’ve written a lot about getting buyers into your home through curb appeal, but that’s just the start. You also have to make a great impression once the buyers enter your home.Here is a great website on preparing your home for sale. In short, you’ll want to de-clutter, clean out your closets and probably remove furniture. Sometimes an interior paint-job of neutral colors is warranted. When we sold our house in early 2009, within 3 months of listing it, the first thing we did was clear out the closets so the clothes hung loosely. We also tried to make our home “buyer neutral”, by removing some family pictures and personal items. You really have to look at your home with a fresh set of eyes. Get rid of any furniture in the middle of walk-thru areas. Ask yourself, “Is the footstool or extra chair more important than the perception of extra space?” A good realtor should help guide you through this process. Sometimes a home, especially one that has been lived in for a longtime, can start to resemble an flea market with too much inventory.

   It can be a little delicate guiding someone into removing “prized” possessions. The owner needs to remember, when trying to sell a home it’s no longer about your personal flair. One needs to be selective with “personality” and provide unimaginative buyers with a neutral pallet.

2. There are experts, that your real estate agent should be able to recommend, that can help you present your living space, furniture and decorations in the best light to potential buyers. These home staging experts can be one of your best investments in getting the home sold quickly and for it’s maximum value. They can help guide you through all the issues mentioned on the previous point.

• If your home is vacant, you can hire a home staging company that will decorate and furnish your home. As mentioned before, a furnished home sells better than a vacant one. Many buyers can be unimaginative and it can be hard for them to conceptualize how a room can be laid out. A furnished room is like holding their hand. Of course, the downside is this service can be expensive, but in the end you’ll probably sell your home more quickly and for a higher price with this service versus in a vacant condition.

• There are also companies that prescreen tenants, with nice furniture, that will move into your place in exchange for free or reduced rent. As a listing agent, I’ve had both good and bad experiences with these Atlanta companies. One home I had listed in Buckhead, with a tenant secured through a staging service, had some problems. The “tenant” had to be reminded that in exchange for reduced rate, she was supposed to make the house available for showing within an hour’s notice. Eventually, I had to have the showing appointments made through me. I would tellthe “tenant” when the appointment was, because the “tenant” was always coming up with excuses not to show the home. I sold the home within 4 months in late 2008.On my next vacant Atlanta listing, my client went with a different Atlanta home staging service for his home in midtown. This company was much more responsive to the needs of the homeowner and agents. It seemed to do a better job of prescreening the “tenants.” The company actually provided the furniture and decorated some of the rooms in the home. The “tenant” was a businessman who traveled all week and barely stayed at the home.

In case you are wondering, the staging services that secure a “tenant” for your home usually make their money on the spread between what the homeowner is compensated for rent (sometimes nothing) and the reduced rental rate the company charges the “tenant” for the hassle of showing the home.

If you have any other questions about homes staging, please feel free to call me.

Related posts:

1. Sold with Home Staging
2. The benefits of a home manager
3. Empathy For Home Sellers
4. Marketing your home on the internet.
5. Getting your home ready to sell.