What is Staging, and Why Aren't Banks Doing It?

Each month I am in a LOT of homes. The ones that are selling at the time of this writing have one or two things in common; they are either better "staged" than the others, they are better priced, or they are both.

Staging doesn't always mean place settings and flower arrangements, though that can make a difference in how a home shows. Staging primarily means preparing the home as best you can to sell it. That can often be nothing more than keeping the grass cut. Or it could mean a new roof.

You've heard me talk about the power of new paint and carpeting, but it basically comes down to prioritizing what your home needs to be in ideal condition, then doing the extra things that will have the most impact. If the first thing a potential buyer sees is a horrible lawn, that may be the best place to spend your "staging" money.

Bank owned properties are often a great example of the need for staging. They are often missing things (carpet, faucets, light fixtures, switch plates, etc.) that make the home "feel horrible" when you show it. Sometimes they are dirty and have the feeling of abuse. And they are often absent power, water and gas, so that potential buyers don't know what works and what doesn't until they have the inspection. And if it is cold outside, without heat buyers can't wait to get out of them. As a result, these homes must be sold at bargain basement prices, although the owners are sometimes slow to realize this. Its a fact that these homes would command much higher prices if the owners spent just a bit in staging. So why don't they?

Most often banks are simply unwilling to spend the money to make the homes "habitable." I know that sounds crazy since they are selling homes, but the fact is they often try to sell houses that are simply uninhabitable. At any rate, it can mean big savings for buyers and "hard to believe" losses for the banks. But as for the losses to the bank, it's their money to lose, right?

Hey,wait a minute...

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Al "Top" Stickland

Riley Jackson Real Estate