Devin Khuu

I wrote this blog for the CSP stagingweblog.com, however I truly felt it was important to post on activerain as well for one simple reason. Those who are looking to add staging to their portfolio, add value by increasing additional accreditations or those who simply want more from a training provider need to be aware that no two programs are the same. Find out what works for you!

As owner of dk design studio – Niagara ON, I pride myself on being resourceful, creative, and educated. In June of 2008 I launched a new e-commerce division of dk design studio; dk home. This St. Catharines based division meets the decor needs of the staging industry and further provides home owners with a unique, premium source for home decor products from around the globe .

During the initial development stages of dk home, I focused more on the design and product development of the line rather than the shipping and handling. When it came time to arrange for shipping, I discovered the need for liability insurance, especially when shipping to the USA. With mass amounts of class action law suits against manufactures in regards to tainted products, shipping companies are now strongly recommending liability insurance coverage. Taking the advice of seasoned entrepreneurs and wholesalers alike, I invested in additional business coverage.

The first company I approached was of course, Jones Des Lauriers; a CSP™ preferred pricing partner. Jones Des Lauriers offers a wide range of personal and business insurance coverage, not to mention their excellent customer service. As my situation was a little unique, a proposal would have to be drafted over the next few days.

During the time it took to prepare a quote, I did my research, calling several other companies. The first challenge I ran into of course was the same one I had almost three years ago when I tried to get business insurance for my first home staging company. Most insurance carriers do not understand our industry , therefore the insurance providers would either over charge, or simply decline a quote.

I was able to narrow my search down to two larger insurance firms (other than Jones Des Lauriers) who “said they understood my needs”. They too required time to prepare a quote. By this time Jones Des Lauriers had contacted me, not with a quote but for a courtesy call to say please bare with us, your situation is unique and we are still working on a proposal.

Back to the competitors; one had not got back to me at all; the other was still working on the full proposal. However they did at this time offer, an initial quote for coverage on my staging business; $1200.00 compared to Jones Des Lauriers preferred CSP rate of $500.00.

After receiving the initial quote of $1200 just for the staging business from the third insurance provider, I was also informed that before liability coverage for dk home- decor line could take effect; I must transfer all my personal insurance coverage to them. This is the only way they would secure my business premium. When questioned as to why, the only reason was his company didn’t fully understand my industry and didn’t want to be held accountable for not ensuring my business properly. I opted to follow through with a full quote from his company as Jones Des Lauriers had not completed my proposal as of yet.

The final outcome, Jones Des Lauriers understood my needs and would assist me adjust my coverage as my company expands and develops. Full coverage for both my staging business and dk home turned out to be $775 per year. The only other company who offered a quote, wanted $1200 per year for staging insurance, $2700 per year minimum liability insurance for dk home, with the condition, that I must transfer all my personal insurance, property insurance to them to receive their “wonderful package”.

I have always been proud to say I am a CSP™. Having the added benefits of National Preferred Partners such as Jones Des Laurier, ICI, the Brick. To name a few, just add value to becoming/remaining a member.

You do the math- $1200 a year for insurance or $500. You would save $700 the first year alone. Not to mention all the other trade discounts we receive. In three years you would have paid for the CSP™ program and then some.

I encourage new stagers, or even seasoned stagers to research the benefits of membership with CSP™. The program itself is far advanced from the competitors. Just ask anyone of us who belong to other associations. Once you review the course content and the benefits your company receive, I think you’ll agree CSP™ membership has its advantages!

Devin Khuu

dk design studio

revitalize rejuvenate reveal - staging niagara and beyond

Today’s paper, Friday June 27 2008, St. Catharine Standard, Business Section, front page; Canadian housing boom over, analyst say.

“The Canadian housing market has ceased to be a seller’s market in both the residential and the recreational sectors, meaning the boom experienced over the past few years is over, analysts say”.

O.K. Niagara, time to wake up!

The United States have been suffering through this downwards spiral in real estate for months. Now it looks like we may get hit too. Lucky for us, the experts believe our “cooling off” will be nothing compared to that of our partners to the South. Consider States such as, Florida, California, Texas and exurbs; properties that are outside the main core of a city.

You can take charge of your home equity and protect it. Prices may be cooling off and the market is no longer in your favour; however a few homeowners will take the high road and invest in a professional staging firm.

I am sure you have heard this over and over again. So why is it such a hard sell? It isn’t for those who truly understand what a professional staging firm can do to secure the equity in their home. If staging didn’t work...why has it been around for so long and why are there so many programs on t.v. highlighting the before and afters of a showcased property?

HGTV’s House Doctor – Ann Maurice, was my favourite. Only someone like me, who grew up in a Scottish home with wall to wall carpet in the bathroom, carpet around the toilet, and carpet neatly fitted up the side of the tub can appreciate and understand why I enjoy Ann Maurice the most.

However this proves that although you love your home and rightfully so! The family moving in may not appreciate your sense of decor. Every little item that is not in check, chips away at your price point. In today’s market, this can affect your take home profit a great deal.

We all know that if a property is listed for $350,000.00, you are not going to offer $350,000.00 unless it is your dream home and in “move in condition”. Instead, we look at the property listed at $350,000.00 and maybe start the bidding at $338,000.00 - $340,000.00 then see what happens!

If the buyer views your property with a low ball figure in mind, any flaws in your home add fuel to the fire. $$$ for the purple walls they have to repaint. Old carpet they must remove or update the ugly outdated bathrooms and kitchens. What are you left with?

Staging is a marketing tool designed to sell your property at its full potential.

How do you survive this downward spiral?

<!--1 Hire a knowledgeable real estate professional.

Joe and Penny Steinman Royal Lepage, have helped me along the way! Many times!

<!--2Hire a Professional Staging Firm

dk design studio – Niagara - Hamilton

CSP™ list of professional stagers in your area

<!--3 Be open to the advice of your professionals and let us market your home to its full potential. Staging will cost less than your first price reduction!

A picture is worth $$$$ to you

I recently staged a home for a close friend. I hadn’t realized she was listing her home for sale, if I had she would have been given the same advice I provide all my clients. Stage before you list. Or at the very least before you have your first viewing; agents tour or otherwise. And make sure your photo “does your property justice”!

Staging before you list will allow your real estate professional to assess your property at its best and may affect the price in which the Realtor feels comfortable listing your property. Even a real estate professional will not envision your home as it could be...only as they see it at that moment. That’s how they market your home. As is! It is not going on the market as a property that could look like the renovated gem two doors down. Your home will be listed in its current state.

Renovation does not have to be included in your staging proposal. A certified staging professional (CSP™)will bring out the best; using what you have or a few accessories to complete a look that your buyers want.

The best tool today for marketing real estate, is the access to view properties on-line before trucking the family out for a visit. The use of MLS photos truly opens the door to potential buyers. Before the house tour, buyers will have searched through hundreds of homes on line. Ensuring you receive fabulous photos of your property will be the difference between buyers touring your property or slough it off as “not what they want”!

Most of us don’t take into consideration that the average buyer will only book appointments for ten properties before making an offer. Out of those ten properties, (if your home makes the short list) your buyer will spend less than five minutes determining if your property is right for them.

dk design studio provides home owners with a professional photo package after showcasing, which your real estate professional can upload to MLS and use for feature sheets. Photos are very important and are often not taken as a valuable marketing tool.

This photo taken by Real Estate Professional and posted on MLS

This photo taken by dk design studio after staging

Which home would you rather veiw/list?

Make sure your home looks its best. If you don’t, you could lose the attention of your buyers immediately. The best advice is secure your equity, stage your property and make sure you receive the best possible photos for your marketing package.

Wishing you great success,

Devin Khuu

dk design studio

www.dkdesignstudio.ca

devin@dkdesignstudio.ca

revitalize rejuvenate reveal * staging niagara and beyond