Why Realtors Should Encourage Staging (Part III)
Money. It’s what we most of us work for, right? Yes, I love love love my job and am excited about it most days when I roll out of bed, but I also definitely do it for the money so that someday I can lie on the beach in Fiji drinking something with a little umbrella sticking out of it for a month or two at a time. Aaaahh…I can hear the waves crashing now. No wait, actually that was my stomach growling. Sigh. So where were we? Oh yeah, talking about the reason we work being the paycheck we receive.
Now color me crazy, but my theme as I market to Real Estate Agents recently has been “Work Less. Make More Money” and I happen to be a big proponent of that theory. Who really believes in the thought of ”Work more. Make less money”? If that person is you, then smack yourself on the back of the head Gibbs style (for you NCIS fans out there, you know what I mean) and keep reading. Let’s just look at some very simplified numbers because they speak for themselves:
>> DISCLAIMER: Simple math to follow and I’m not including marketing expenses, etc. so these numbers are not 100% accurate. <<
- List Price of Staged Home: $350,000
- Potential commission = $10,500
- Accepted Offer of Staged Home: $345,000 x 3% commission = $10,350 smackaroos in the Realtor’s bank account.
- List Price of the same house, UN-staged: $334,000 (because the right updates, repairs & merchandising were not suggested it doesn’t command as much money)
- Potential commission: $10,020
- Day 30 price reduction: $15,000
- Revised potential commission: $9570
- Day 60 price reduction: $15,000
- Revised potential commission: $9120
- Accepted Offer of UN-staged Home: $290,000 x 3% commission = $8700