Consider It Sold: Home Staging Strategies for a Quick and Profitable Sale

All rights reserved. Except for the inclusion of brief quotations for review, no part of this book may be reproduced, stored in a retrieval system, or transmitted by any means—electronic, mechanical, photocopying, recording, or otherwise—without written permission from the authors.

ISBN, print ed. 978-0-9879302-0-0
ISBN, PDF ed. 978-0-9879302-1-7
ISBN, eBook ed. 978-0-9879302-2-4

Note: This book contains the opinions and ideas of its authors. It is intended to provide helpful information only. It is sold with the understanding that the authors are not rendering legal, real estate brokering, or other professional services. If legal, real estate, home improvement, or other expert assistance is required, seek the services of a competent professional. The authors assume no responsibility for errors or omissions. Neither is any liability or responsibility assumed for any injury, loss or damages caused, or alleged to have been caused, directly or indirectly, by the use of the information provided in this book.

Preface

If you’re thinking about selling your house, then you’ve most likely heard about home staging. Until relatively recently, staging has been a well-kept secret of savvy sellers and real estate agents. With the advent of home decorating and real estate programs on TV, however, more homeowners are becoming aware of the benefits of staging their home before putting it on the market.

Staging is a truly effective way to persuade potential buyers that your house is the one for them. Regardless of where you live, how big or small your home is, its listing price, or the number of people living in it, the same basic staging principles apply. Staging will improve the perceived value of your home and will help it sell quickly and profitably.

You might wonder how can we give advice on making changes to your home when we haven’t even seen it. The fact is, we all fill our homes with beloved treasures and choose paint, art, furniture, and accessories to express our personal style. After all, a house is a private space, arranged to suit the homeowner’s needs and tastes. However, the way you normally live in your home is not usually the best way to sell it. Staging is not about making your house nicer, more convenient, or more comfortable for yourself. It’s about showcasing it so potential buyers can clearly see the space, appreciate its best features, and want to snap it up.

This book demystifies the staging process and will guide you through it from beginning to end. It is divided into three parts:

Part 1, “Building the Foundation,” is an introduction to home staging. It clearly describes what it is (hint: it involves psychology and is more about marketing than decorating), its benefits, and when you should begin the process. You’ll discover how to prepare for the staging process, including examining your feelings about moving, assessing your home and the competition, and setting a timeline and budget. You’ll also get tips on motivating yourself to get the job done.

Part 2, “The Four-Step Home Staging Plan,” thoroughly details how to stage your house in four steps: de-cluttering and depersonalizing, making simple repairs and upgrades, cleaning, and styling. It explains the principles behind the process so you can apply them to suit your unique needs. It shares our favorite online shopping sites for first-rate staging supplies, and each chapter includes a detailed checklist to help you keep organized.

Part 3, “Almost Showtime,” addresses how to stage the exterior of your house for excellent curb appeal. You’ll also get tips for special situations, such as staging a vacant house, seasonal staging considerations, and how to stage your house quickly when you’re in a rush to put it on the market. Finally, you’ll learn the basics of photographing your house for online postings and stress-relieving strategies for maintaining and showing your staged house. You’ll find more checklists to guide through these finishing touches.

Going through the home staging process is not always easy. There will be moments when you doubt whether some of the suggested changes could possibly make a difference (they will). You might even find it hard to implement changes and see your house in a new way. We feel your pain. However, some parts of the staging process are actually fun, and many people like the results so much that they continue using many of the staging principles in their new homes.

We can assure you that home staging does work: compared to non-staged competitors, staged homes are more attractive to more buyers and therefore sell quicker and for more money. Your home was a major purchase, and your money was hard earned. Staging it to sell offers a solid opportunity to profit from your investment.

So, you’re moving. Feeling stressed? It’s no wonder if you are. The issues associated with moving can be physically and emotionally draining. Many people find that moving creates an enormous amount of work, stress, and upheaval in their lives. This is where home staging can help. Smart staging techniques will not only attract interested buyers and hasten a sale in any market, they will also help keep you organized and prepared for moving day. The following two chapters are a general introduction to home staging and an explanation of what you need to do before you begin staging your house.

FOR MOST HOMEOWNERS, their house is their most valuable asset. When the time comes to move, they want to sell it for top price. All too often, however, they rush to put their house on the market and are surprised and disappointed when it doesn’t sell right away. If the house sits on the market for too long, the seller either has to take it off for a while or reduce the list price, oftentimes drastically, and sacrifice thousands or tens of thousands of dollars.

Many factors affect housing sales, many of which are out of the homeowner’s control, such as total number of houses on the market, mortgage rates, unemployment rates, and regional housing values. However, two crucial factors that significantly affect time on market are completely within the homeowner’s control: the asking price and the presentation of the house. Your real estate agent will help you determine a reasonable asking price. This book will help you with the presentation of your house.

“Time and again, we find that staging our new homes significantly decreases the number of days they’re on the market.”

Home staging involves making simple yet strategic changes to a house before it’s listed so that it appeals to the greatest number of buyers. The more buyers attracted to a house, the better the chance of a quick sale. And a quick sale usually means a more profitable sale. This is because buyers know that when a house sits on the market for a few weeks, the seller is more open to negotiation than when the house is first listed. Thus, the longer a house sits on the market, the lower the offer price relative to the list price.

You need to persuade potential buyers that your house offers exceptional value. Buyers often underestimate the value of a house simply because of problems with the way it is presented. By carefully staging your home, you will improve upon many details, some seemingly minor, which together will greatly increase its perceived value. Your staging efforts will make buyers notice your home and love what they see.

Home staging goes well beyond the obvious chores of tidying the house and mowing the lawn before a showing. As you’ll learn in this book, it includes a wide variety of tasks, from making needed repairs to creating focal points in a room. None of these tasks are complicated, but many require time and effort.

Your staging work will give you a distinct edge in the real estate market. A staged home has excellent curb appeal outside and looks spacious, clean, orderly, and up-to-date inside. Most of all, it is so appealing that potential buyers will want to linger and dream about living there. And once you have people imagining living in your house, it won’t be long before you get an offer.

Buying a house is a surprisingly emotional decision. Even though it’s a significant investment, we usually make relatively quick decisions based on first impressions, gut feelings, and intuition. Buyers often decide whether or not they like a house within the first few minutes, sometimes even the first few seconds, of walking in the door. After the deal is complete, people often explain their decision using emotional terms: they just “felt” the house was right for them, or they immediately “fell in love” with it.

It’s All in the Details

Don’t believe that small, subtle details can influence people’s decisions?

In his book 59 Seconds: Think a Little, Change a Lot, psychologist and author Richard Wiseman lists numerous studies showing that seemingly insignificant details can influence people’s behaviours. For example, researchers found that after people sat in front of a computer screen that had dollar signs as its wallpaper, they subsequently were less likely to donate to charity and were less friendly to others; interviewers who were given cold cups of coffee tended to rate their interviewees as “colder and less pleasant” and people who saw a briefcase on a table during a meeting suddenly became more competitive.

Buyers make snap decisions because they tend to make broad assumptions, often subconsciously, based on subtle visual cues. What buyers see, and subsequently feel, when viewing a house strongly influences whether they make an offer. For instance, if buyers see a cluttered or overflowing closet, they assume that the house doesn’t have enough storage space. Similarly, if they see minor issues like a cracked window, peeling paint, or a messy room, they assume that the house has not been well maintained and that other, more significant problems may arise. Of course, people don’t usually realize they are making such assumptions, but they leave with a feeling of unease and may not even know why.

On the other hand, other visual details can create feelings of well-being and comfort, like a cozy reading corner, fresh flowers, or a spacious room with plenty of natural sunlight. Home stagers understand that small details make big impressions and carefully stage the house to make a stunning first impression, draw buyers in, and make them want to stay.

Home staging exploits what Dan Ariely author and professor of psychology and behavioral economics at MIT, describes as the principle of “virtual ownership.” People tend to value something more when they own it. Even if we simply imagine owning something, we place greater value on it. The advertising industry has discovered this concept a long time ago. We see a commercial showing a happy family going to a soccer game in a minivan, and we imagine ourselves in their place. We already start thinking of it as ours as we plan where everyone would sit and how we would use the extra cargo space under the seat.

A properly staged house is presented so that buyers will be inclined to imagine themselves and their families living there. And when they imagine living there, they already assume virtual ownership and thus become more emotionally attached to the house and more likely to buy it.

Staging also appeals to people’s natural desire to improve the quality of their lives. People looking for a new house are usually looking to “move up.” Even if they’re downsizing, most people hope to move to a place that is in some way better than where they currently are living. For most people, “better” means more space, more storage, and less work. Staging your house will convince potential buyers that it is a spacious, serene place where everything they need is already waiting for them.

Of course, people know that every house requires upkeep and cleaning. They understand that children with sticky fingers or dogs with muddy paws invariably leave their marks on the walls and floors. However, your house doesn’t need to remind them of these realities. No, your house will seem as if it’s so well organized, clutter is not an issue; it’s so well maintained that repairs will never be a problem; and it’s so clean that surely it must practically clean itself. In other words, you’re selling a dream.

Because home staging is still a relatively new field, there are some misconceptions about it. The following are examples of what home staging is not:

Home staging is not the same as home decorating. While it’s true that home staging creates a lovely looking house, the goals of home staging are very different than the goals of home decorating. Decorating involves styling your house to reflect your tastes and personality and to suit your needs. Home staging involves removing signs of your presence or unique taste in order to create a neutral space. The goal is to show off the best features of the house, not to express your creativity or personality. Forget about making your house comfortable or convenient for yourself. In fact, a staged house can be uncomfortable or inconvenient to live in because it is designed to meet the wants and needs of potential buyers, not the wants and needs of the owners.

Home staging is not deceptive. The purpose of staging a house is to highlight its best features while minimizing its flaws. Staging isn’t about hiding problems or deceiving people. It is unethical (and possibly illegal) to hide a problem or defect rather than repair it or disclose it to the buyer. Simply put, staging serves to present a house so that it is visually and emotionally appealing to the greatest number of potential buyers.

“I recently had a house on an excellent crescent that just wasn’t generating interest from buyers. After a few months I convinced the owners to have it staged. What a remarkable difference! The comments from potential buyers immediately changed from being negative to very complimentary, and it sold very soon afterward.”

According to studies released in 2010 by the Real Estate Staging Association (RESA), staged homes spend significantly less time on the market than non-staged homes. In their study RESA followed 126 non-staged, unsold houses that had been on the market for an average of nine months (approximately 263 days). When the homeowners took these houses off the market, staged them, and then re-listed, these same houses then sold within about two months (60 days). In another study that same year, RESA found that houses that were staged before being placed on the market sold within about 39 days. This means that in RESA’s study, houses staged prior to listing sold over six times faster than non-staged houses.

Consider the implications of selling your house quickly. Not only will you get more money (the US Department of Housing and Urban Development found that staged houses sell for up to 17% more than non-staged houses), you also will likely avoid having to move before your house is sold. The first few months in a new house are expensive, and carrying two mortgages would force many families into debt.

Selling your house quickly may also allow you to finalize the purchase of your new house. Putting the money from your previous house towards the new mortgage will also save you substantial interest costs.

While everyone wants to sell their house for the best price possible, most sellers also want the convenience of a quick sale so they can get on with their lives. Imagine being able to move when you want to and not having to put your life on hold until your house sells. Imagine the convenience of having fewer showings and fewer mad rushes to clean the house and put everything in order at a moment’s notice.

Finally, home staging also helps to make moving day less stressful. As you’ll see later in this chapter, part of home staging involves cleaning, de-cluttering, and packing away items that you don’t immediately need. Doing these tasks well before moving day helps to spread out the enormous amount of work required to relocate. You will certainly appreciate the convenience of having a good portion of your packing and cleaning done early.

“We strongly recommend home staging to the majority of our clients. In our experience, not only does the home show better, it subsequently sells quicker and for more money than properties that haven’t been staged.”

Virtually every homeowner wanting to improve the chances of a quick and profitable sale can benefit from home staging. We believe that home staging is always necessary:

Regardless of the market. In a slow market, competition for buyers is very high. Staging your house will help it outshine the competition. In a hot real estate market, houses sell faster and easier. The better your home looks, the greater the chance you will receive multiple offers and a higher selling price.

Regardless of the neighbourhood. Staging is becoming standard in some larger cities, especially in neighbourhoods with more costly homes. If the houses in your market are staged, then your competition is stiffer and you’ll also need to stage your house in order to keep up. In other areas, homeowners may know nothing of staging and simply present their homes for sale as they have decorated and lived in them. If staging is not yet a popular selling strategy in your area, then enjoy the advantage you will clearly have by staging your home.

Whatever the style, price, and condition of the home. Whether you live in a small condominium, a modest bungalow, or a large luxury home, staging is essential before listing. Smaller houses look more spacious after being staged. Homes in the higher price ranges have a smaller pool of potential buyers, so they must make very positive first impressions to meet buyers’ high expectations. Every home has personal or disorganized areas that are not ready for showing. Even the cleanest and most up-to-date house can usually still benefit from some tweaking before being put on the market.

Whether the home is occupied or vacant. Vacant homes are more challenging to sell because they tend to look cold and unwelcoming. Staging a vacant home by renting or borrowing furniture and accessories for key rooms will help it sell much quicker.

Start thinking about staging your home as soon as you make the decision to sell. Beginning right away leaves time to properly prepare and allows you to spread the work out over days, weeks, and even months.

Showing it to a real estate agent and setting a listing price. Like anyone else, real estate agents are influenced by a staged home. The agent will be judging the house to determine a listing price, so prepare as much as you can before the first visit. Also, real estate agents tend to show staged homes more often because they know these homes are very appealing to buyers.

Posting photos of it on the MLS or other Internet listings. It is essential to stage your home before posting any pictures of it online. According to the National Association of Realtors, 94% of buyers aged 24 to 44 uses the Internet to search for a house. The vast majority of buyers begin their search process online, even before contacting a real estate agent. Your photos will be the first contact you make with potential buyers. If they don’t like what they see in the photos, they will simply move on to the next posting and not bother viewing your house in person. If you have already posted pictures before you have finished staging, it’s not too late to replace these photos with new, post-staging photos. (Chapter 9 discusses how to photograph your staged house).

Open houses and private showings. Ensure your house is staged before each potential buyer views it. This means refreshing your staging efforts before every single showing so that it looks just as good as it does in the photographs. (Chapter 9 provides tips on maintaining your staged house so that last-minute showings will be a snap.)

Of course, you can also stage your home when you are not selling it. Once people see the simple, low-cost, yet dramatic improvements that staging makes, they often want to stage their new homes to create the ideal space for themselves. You can easily adapt many of the home staging steps and principles to make your new (or lived-in) home more organized, updated, and stylish.

NOW IS THE TIME TO MAKE A STAGING PLAN. This chapter outlines preparations to consider before you start staging. You might be surprised to learn that the first task is to examine your thoughts and feelings about your upcoming move.

Frequently one of the biggest obstacles to staging is the homeowner’s reluctance to make changes. Why would anyone wanting to sell her home resist making changes that would make it easier to sell? Often, even though she may not realize this, it’s because she is emotionally attached to her home and is reluctant to move.

Moving can stir up complex emotions; rarely is it easy to leave your home or neighbourhood. After all, moving is a major life change. Even if you’re looking forward to a new future, you’re still leaving a phase of your life behind, which is never easy. Everyone mourns loss, and moving involves dealing with a significant amount of loss.

If home was a refuge and comfort, saying good-bye can bring up feelings of sadness and grief. Most people feel nostalgia for the good times and all the “firsts” that happened there. If home was associated with conflict and strife, there may be feelings of relief in leaving but also disappointment and regret in leaving a place that didn’t live up to hopes and expectations. People often must move because of distressing events such as divorce, death of a spouse, or financial difficulties. In these cases, moving away from a loved home and community is even more difficult and may feel like yet another loss.

Once you make the decision to sell your home (or, if the decision was thrust upon you, once you accept that you must sell), it is critical to begin a process of letting go of your deep attachments to the house. Sellers who are still emotionally attached to their homes have a very difficult time being objective about it, and objectivity is critical for making the right staging choices.

If you are not objective about the condition of your home, your biases towards it will cloud your judgment. Remember, ownership causes us to attach greater value to an object, often leading us to overlook its imperfections. For example, the faux paint finishes and stenciling that you painstakingly added in the ’90s may bring warm memories and still look fine to you. Maybe you have lived with a broken closet door for years and are so used to kicking it closed that you no longer even notice it. Perhaps you’re so used to the brass and smoked glass lighting fixtures that came with the house that you forget they’re there. Potential buyers, however, don’t have any attachments to your house and will quickly notice flaws and outdated features.

Allow yourself to feel your feelings while gradually beginning to view your home more objectively. Even a slight shift in thinking can have a profound effect. For example, instead of thinking “this is my home,” think, “this is a house.” Try changing your perspective from “I live here” to “I will be leaving.” Move from “this is mine” to “I want someone else to have this.” For some, this will happen naturally and quickly. For others, letting go may take longer and require patience and effort.

Acknowledge your feelings about moving, whether you are feeling excitement, relief, disappointment, sadness, or a combination of all of them. Remind yourself that these feelings are natural. It can be helpful to confide in someone you trust and plan ways to move forward appropriately.

The following are some methods you might want to try to help you through the process of letting go:

Take pictures of your home before it is staged so you can remember it just as it was. After it is staged, it may no longer seem like your house. Remember to take pictures of your yard too.

Throw a family “good-bye party” for your house. Include the children, and invite everyone to talk about their favorite memories of the house.

Record a “walking tour” of your house and yard. You or your family could narrate this as you go along, recording special memories or comments about each room.

Write a note to leave for the new owners, detailing what you know about the house’s history and maybe a little bit about your life there. You could include some pictures of the house through the years to show how it has changed. Wish them well in their new home.

Hide a time capsule or leave a small memento in the house. For example, if you have a hole in the wall that needs repair, hide a photo or note inside it before patching. People who have left messages say they found it comforting to think someone might find these little treasures years from now.

Spend some time imagining your new home. Get excited about everything that you can look forward to. Are you eagerly anticipating moving to a larger home or more convenient location? Focus on how moving will be the beginning of a new chapter of your life.