The soft real estate market has homeowners in the Urban Corridor (UC) and throughout Tampa demanding tools to help them sell their property at a profit – or sometimes just sell it period. One tool that has gained popularity is home staging. That’s because studies show thoroughly cleaning, de-cluttering and preparing a properly priced house before it is put on the market, gives it a better chance to sell faster and closer to its list price.

 

For example, StagedHomes.com recently conducted a three-year study of 300 homes. Part of the study included unstaged homes on the market for an average of 163.7 days. These homes were then staged by Accredited Staging Professionals (ASP™), re-listed and sold in an average of 13.7 days. More impressively, study homes that were staged prior to being listed sold in an average of 8.9 days.

 

As for selling price, homes staged after spending some time on the market averaged equity of $14,074; compared to homes staged prior to listing, which averaged equity of $16,784 (a 5.8 percent increase).

 

The overall conclusion of the study found that staged homes sold 50 percent faster and for 6.9 percent more money than homes that were not staged.

 

StagedHomes.com’s research was conducted during the 2004-2006 residential market boom and continued through the early part of the current leveling out period. This means the data that supports staging shows it benefits home sellers in either a sellers’ or buyers’ market. Since the market is always one or the other, staging should be considered when preparing a home to stand out above its competition, which is critical considering the large number of houses currently for sale.

 

In the Tampa area, the downward shift in homes sales (and prices) actually began quietly in mid-2005. By late December 2007, there were 1,166 single family homes for sale in the UC. The table below, which is based on data from the Mid-Florida Regional MLS, illustrates the trend of UC single-family homes sold in 2005 versus 2007.

 

 

Although location, location, location is the mantra that’s still king with Tampa’s potential homebuyers, sales trends like these have made price, price, price the next in line for the throne. Price is then followed closely by best perceived value, which is influenced greatly by the buyer’s first impression of a home.

 

That impression starts as soon as home shoppers drive up to a property. To make them want to come into the house, grass should be cut and a path or walkway to the front door must be clearly defined. The home’s exterior should be power washed and freshly painted, complete with sparkling windows and a door that ‘pops’ and says “come right in!”

 

STOP! If you can smell it, you cannot sell it. Is that mold? Kitty litter? Wet doggie hair? A dirty diaper? Did you have tuna fish for lunch? You can smell the picture.

 

These are realities of daily life, but a house being sold is a product. Everything inside must be clean and smell fresh. As buyers cross the threshold, they must be drawn from room to room in an orderly fashion. It’s important that each room clearly states its intended purpose (instead of bedrooms serving as storage closets and dining rooms as offices). Buyers only know what they see and are often put off by having to visualize what is supposed to be there.

 

Neutral paint on walls and removal of personal items (like family pictures or objects that shout ethnicity or religion) are must dos. Why? The showing of a house is not a bully pulpit. It needs to appeal to a wide variety of people and they need to be given the opportunity to clearly see where their personal items would fit best. Staging is not decorating – it is de-decorating and de-personalizing.

 

Selling your real estate is not a passive activity. The best time to sell is within the first month of listing. Money spent staging will be far less than the home’s first price reduction after 30 days. Sellers – take the time and make the effort to open the door to buyers seeking a move-in ready house, at a great price and in a great wrapper.

 

Buyers are still out there, interest rates are great and mortgages are readily available for those with good credit. Give buyers the product for which they are searching. Take the “u” out of your “house,” and with that imaginary “hose,” get that place Q-tip clean!

 

About the Author:

Nancy Nolan Huhta is a Keller Williams realtor serving the UC and other areas of Tampa Bay. She is a graduate of StagedHomes.com’s ASP™ course and provides complimentary staging consultation for all of her residential listings. To contact Nancy, call (813) 817-0330 or email NancyHuhta@KW.com.