Winning the Real Estate War

MoneySense Magazine, April/May 2005
“Winning the Real Estate War, ” by Julie Cazzin

Excerpt from MoneySense Magazine:

Coldwell Banker Realty tracked 2,772 properties, ranging in price from $229,000 (U.S.) to $4.8 million, in eight major U.S. cities.

It found that while the average home was on the market for nearly 31 days, the typical staged home sold in just under 14 days.

And while the average home sold for a mere 1.6% over the seller’s asking price, the staged homes went for a hefty 6.3% more.

“Home stagers perform their magic by playing up the best features of your house and minimizing the worst…. Debra Gould, who owns the Six Elements Home Staging firm in Toronto, says it’s important to avoid planting negative associations in buyers’ minds…. gives the example of an open house she attended where the owner had left all the garbage and recycling bins at the top of the long and steep flight of steps leading up to the house…. she advised the agent to have the homeowner tuck the bins away behind the house rather than drawing attention to the major inconvenience of not having a place to store them at sidewalk level…

… Home Stager Gould recommends you pay special attention to the furnace room since every home buyer wonders what shape the furnace is in. “If the furnace looks clean, it looks newer,” says Gould. That goes for the fuse box and electrical panel too.

… A couple of planters on your front porch, a vase of flowers on your dining room table, even a simple rose in a bud vase can warm up a room. This is where you can let some of your creativity show through. “You want to get away form making rooms feel dull and sterile,” says the home stager Gould. “Flowers and plants are good for that.” Candles help too.”

NOTE: This “Winning the Real Estate War” story was re-run by Canadian Business , Spring 2006.