Recently a client approached me to sell their condo in Kerrisdale. The suite was a well laid out, 2 bdrm plus den, offering over 1500 square feet of living overlooking Elm Park. The building was a beautifully built and well maintained concrete low rise. My first impression was that this would be a fairly straight forward sale as the condo was located in a sought after building in a great location.
The suite was in immaculate well maintained condition. The only issue I could see that buyers might have would be the ability to look beyond the poorly appointed furniture relative to the layout. The dining room area had no dining table and was made small looking by a large oversized wood hutch. The master bedroom had no bed in it. The living room was arranged so that it looked very narrow and difficult to furnish.
We decided to go to market without making any changes to the furniture. After 2 weeks on the market and 15 showings, we finally attracted just 1 offer which was on the very low end of where I suggested it might sell. This offer was accepted with a subject period of 2 weeks. On the 14th day the buyer backed out and the sale did not go through. At this point the seller was feeling a little frustrated.
It was my suggestion that staging the home would solve all the buyer concerns about the lack of dining area, the narrow living room, and the uninviting master bedroom. I felt that if the condo was correctly staged, we could attract a buyer quickly, and at a much better price than the previously accepted offer.
The seller was concerned that paying $4,500 for staging might not pay off. I felt otherwise.
3 days after the staging went in, we sold the condo at a price $50,000 above the previously accepted offer. The staging cost the homeowner $4,500 so the net result was a gain of $ 44,500.00! Staging your home does work.
If you have any questions about home staging or would like a consultation, please call Andrew at 604-657-7936.