One of the topics that was presented at the OREIO roundtable was home staging. Although I have watched the occasional home renovation/home decorating tv show on HGTV, I certainly do not consider myself a professional decorator, or designer by any stretch of the imagination. My specialty is numbers. I understand what kinds of things that go into costs and budgets, so that I can minimize costs while maximizing profits.
While you minimize costs, there is a second part to maximizing profit and that is maximizing potential revenue. This is where home staging comes in. I was very intrigued by the discussion by our presenter. I had thought that home staging was merely decorating, but it's more than that. It's a marketing plan to ensure that you maximize the potential revenue when you go to sell your home.
So, you might still be wondering what the difference is between decorating and staging. Decorating is making your place look nice, but staging considers what type of clients would enjoy a certain style of decorating and gear the designs around that person, so it becomes more sellable. Staging involves highlighting key features in your home that are attractive, and making them stand out for the buyers. Staging is a marketing plan that is strategic in nature to help you sell your property for more money in less time.
The thing that makes staging work is the fact that people rarely buy a home for themselves without thinking of how they see themself in the house. If you can present to them a certain lifestyle, it certainly helps them have a clearer picture in their head how they would like to live. Real estate agents often do not simply sell houses, they sell lifestyles. People need to know that they can enjoy their time in a building despite most buildings consist of the same basic elements (walls, roof, floors, etc.). It's how a buyer sees themself in those walls the key to making a profit maximizing deal.
Now, I have decided that I would love to start posting free referrals on this blog to help those needing resources to find things related to real estate. However, I think I will reserve posting referral advertisements where I have not either dealt with the person, or found out from numerous sources of their outstanding reputation. As a future real estate agent, I don't want to compromise my reputation based on poor work by another company or individual. Hence, despite an excellent information session by an Ottawa-based home stager, I'm not going to post a link to their information until I actually get to deal with them personally.
Wednesday, March 11, 2009
Home staging
Posted by
Chad
at
9:14 AM
Labels: decorating, free ads, home repairs, home staging, investing, OREIO, Real estate, Rent
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