The Real Estate Staging Association (RESA) just released its 2010 statistics. These statistics were gathered nation wide and showed the following amazing results:
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Vacant & Occupied Homes: Previously on the Market |
Listed, Un-Staged - NOT SOLD |
Same Homes - Staged, Listed, SOLD |
SOLD |
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2009 Study of 126 Homes |
263 Average DOM |
60 Average DOM |
78% Less Time on Market |
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Occupied Homes |
Staged Before Going on the Market |
SOLD |
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2009 Study |
167 Homes |
On Average in 39 Days |
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Vacant Homes |
Staged Before Going on the Market |
SOLD |
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2009 Study |
117 Homes |
On Average in 42 Days |
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These statistics show that staging a home PRIOR to putting it on the market yields the greatest results. It saves you and your clients time, money and lots of stress! However, even staging a home after it has already been listed for sale, can still help the home sell faster. These statistics are available to download for FREE on our local website: www.WeStageSC.comand the Real Estate Staging Association's website: www.RESA-USA.org.
As shown in the above national statistics, staging prior to putting the home on the market can save you lots of time. But exactly how much money does that equal? The above study shows that 126 homes were listed on the market for approximately 9 months before deciding to stage. It also shows that 284 homes (vacant & occupied) that were staged prior to being listed sold on average in 40.5 days, or approximately 7 months faster than the unstaged homes. Here is an example of a formula to use to calculate the savings:
Monthly Mortgage Payment = $1800
Direct Expenses = $300
Total Monthly Carrying Costs = $2100
For the homeowners in our study whose homes were on the market for approximately 9 months their total expenses were ($2100 x 9) = $18,900.
Had the homeowners staged their homes first, they could have saved 7 months on market and their savings could have been ($2100 x 7) = $14,700.
These numbers are all relative to individual mortgage and expenses. Use this simple formula to determine how much you will save by staging your home or listing before putting it on the market:
Mortgage + expenses (utilities etc.) = Monthly expenses
Monthly expenses X 9 months (avg. time un-staged) = Cost to list house un-staged
Savings: Expenses x 7 months (average time on market reduced) -staging fee =Savings if you stage your house first!
If you found this helpful and want to be able to show the significant savings that your client can actually earn, you can download our free brochures on our Real Estate Professionals Page. Here are two that you may want to use.
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An Exact Property Comparison - this seller saved $35,000 by staging their $349,000 condo comparted to an identical property only a few houses down that was for sale at the same time and the same price!
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Proof that Staging Sells - the staged homes in this neighborhood saved an average of $42,250 in their $650K homes compared to comperable non-staged homes in the same neighborhood.
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Melissa Marro, a published artist, now turned staging advocate and national speaker speaks her mind about real estate and the home staging industry. In her 'no holds barred' approach, audience members find real answers to the industries pitfalls and learn how to overcome them with tried and true information and guidance. With marketing as her passion, she turned a small home based business into one of the nation's largest home staging and training facilities. She now operates as the CEO of First Impressions Home Staging & Interior ReDesign as well as an instructor for Staging And Resign and regularly speaks at the StagerList Expos and Real Estate Staging Association (RESA)'s trade events.
For more information on having Marro speak at one of your real estate functions, please contact her at 843.822.2622 or email at marro.melissa@gmail.com
If you would like Marro's team to provide information on staging a property in the state of South Carolina, or the Greater Charleston Area, please visit www.WeStageSC.com, email marro.melissa@gmail.com or call 843.822.2622.
Excellent info. Melissa! Thank you for putting this together!
Melissa- Good information and what a selling tool when we're talking with Sellers and Realtors.
Interesting Post! Good information, thank you for sharing.
Hi Melissa.. I LOVE this sort of info. It has real teeth. As a Stager, one of my biggest hurdles is getting the client beyond the "HOW MUCH WILL IT COST ?" question. It can be the worst part of making a proposal. Having some hard figures like these to present may be very helpful. !!