Whenever a client is considering selling their loft, part of my job is to explain the three key aspects of the sale: Price, Presentation and Promotion.
Presentation can be a sensitive topic to discuss with sellers.
"Bob, I think your loft looks like S***", is the quickest way to lose the listing. Typically, most sellers just need to tidy up and de-clutter. Sometimes, however, a seller will need a little more help. Over the years, I have realized, without a shadow of a doubt, that great presentation (i.e. home staging) pays for itself many times over. The cost (approx 1% of the property's value) is not only realized in the final sale price but often the DOM (Days on Market) is dramatically reduced. Home staging can include proper use of furniture and accessories, outside landscaping to increase curb appeal, and a subtle yet fresh fragrance throughout the house to appeal to a buyer’s senses. The quicker a client can sell their home, the less stressful the whole process can be.
Does home staging really work?
In 2005, Ph22 of the Chocolate Lofts was sold by the developer for $195,000.00. One year later, the unit was listed under power of sale for $189.000.00. Although the price was competitive, the unit showed terribly. Buyers could not see past the dirty, smelly kitchen and the broken murphy bed in the living room. The unit sat on the market for two months. Then, in October 2006, my buyer, James Zibarras, purchased the studio loft for $169,000.00, after a week-long negotiation. I assured James that we would resell the loft for a profit by simply staging the loft. Shortly after closing we staged the loft and sold it for $214,000.00. It had been on the market for only 10 days.
Still not convinced?
Read how Jenna Hofbauer recently staged her loft to sell and got maximum results!