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To Stage or Not to Stage?

We all know time is money.  When it comes to real estate, this couldn’t be truer. While the sales price of a home may

Staging a Home

Photo credit: HGTV

not change, obtaining a sale quickly can save a considerable amount of money in the form of carrying costs and even loss on sale if the market is in decline.  One way to give prospective buyers a perception of the depth and functional usage of space is to furnish the home. As such, transferees may request additional monies for staging the home as a part of the home marketing benefit. Should you comply?

It depends. Buyers typically spend 10 – 15 minutes in a home the first time and often look at several homes as part of a tour. In this time period, staging can either help or distract, which is why it’s always best to look at it on a case by case basis.  If there is a home in question, consult with your relocation company about whether or not staging will help. The Realtor and relocation counselor should consider the appeal of the vacant home as compared to competing homes and recently sold properties.  They should also walk through the property to determine if there are any trouble areas that can be helped with better lighting or furniture. For example, contemporary style or very old homes may have layouts that are confusing to buyers. Staging may help buyers visualize how to use the space, thus alleviating these concerns.

If your transferee does decide to stage the home, they should work with experts in the field to find furnishings that do not distract from the space (nothing too clunky or vibrant).  Sometimes, the monthly anticipated cost of renting furnishings might justify purchasing some items and later donating them or even including them in the ultimate sale. You should remind them that this is an option.

Ultimately, when developing your company home sale program, every effort should be made to keep (tasteful and limited) transferee belongings in the home as long as possible. When a home is expected to go vacant for a period of time, taking and displaying photographs showing the home furnished can also help with envisioning the space. If the home is still not selling, then it may make sense to tap into additional staging resources – especially if the company is stuck with the carrying costs.

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MIKE CANNING
VP, Client Services

RICK CALANNI
VP of Business Development Northeast Region

 

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