In eight major US cities, Coldwell Banker Realty tracked 2,772 properties ranging in price from $229,000 to $4.8 million USD and found that the average home was on the market for nearly 31 days, while the typical staged home sold in just under 14 days. It also found that the average home sold for only 1.6% over asking price, while the staged homes went for an average of 6.3% above asking. The median selling price for detached homes in North Vancouver in 2005 was $643,500. If we apply the Coldwell Banker Realty results to this number we would have a typical asking price of $633,200 plus 1.6% over asking ($10,300) resulting in the $643,500 sale price. If the home would have been staged, for the asking price of $633,200 plus 6.3% over asking ($39,890), the resulting sale price would be $673,100. For an initial home staging investment of $80-320 for a consultation, to $2-8000 for a full home staging, the homeowner would gain $29,600 more than if the home had not been staged, and after factoring in the cost of staging would walk away with at least $21,600 (a 270 % return) for their efforts. Remember that: The cost of staging is far less that any price reduction that you might consider taking if your house is not selling.

Home ‘image’ is intruding upon the old adage ‘location, location, location’, according to a poll released by Royal LePage Real Estate Services on February 16, 2006. The poll indicated that thirty-six percent of potential buyers said that they would be willing to pay a premium for a home with updated décor (41 percent of men versus 30 percent of women), and 63 percent of buyers preferred a higher priced home that does not need any renovations over a lower priced fixer-upper.

When you stage your home in preparation for sale, you are already prepared for your move, both physically and psychologically. Physically, you have shed your clutter and pre-packed 60% of your belongings. Your psychological attachments to your home have been addressed by the preparation. Changes to the way your home is presented helps you come to the realization that you are merchandising your house to sell, not decorating your home to live in.

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