Many homeowners need to move to the new home before the old home sells. Sometimes it’s a tenant who has moved out before the home goes on the market, causing it to sit vacant. As you can imagine, selling an empty house is a bit of a challenge. Not only are there the insurance, maintenance and security aspects to consider, but also the appeal to the potential buyer.
Staging a home for sale is becoming more common as homeowners learn how valuable the process is. It is even more valuable when the home is vacant. Since studies show that a home without furniture takes 78 percent longer to sell than a furnished home, and the latter sells for closer to the asking price, consider the following to maximize your profit on the sale of the home.
Hire a professional home stager
These designers bring in everything from furniture to accessories and arrange them in ways that appeal to a homebuyer’s emotions. Most homeowners spent between $348 and $803 to have their homes staged, according to the professionals who are members of ImproveNet. Check out their handy calculator to get a better idea of costs in your ZIP code.
Stage it yourself
Making a home look lived-in when it isn’t is a big job, even for professionals. But the good news is that you won’t necessarily need to stage the entire home, according to Kerry Derwent-Robb at HomeStagingHints.com. She recommends staging the dining and living rooms, as well as one or two bedrooms. If you feel you lack that interior designer flair, get some ideas and inspiration online at HGTV, on Pinterest or at HomeStagingChannel.com’s YouTube channel.
Stage it virtually
Yes, there are virtual stagers, and they can change wall colors, switch out the flooring and even add virtual furniture. The danger in this method is that if a buyer likes what he sees online and shows up to tour the home in person, the first thing he’ll notice is that it looks nothing like its photos, and he may feel deceived. You can get around this by making it clear online that the home is virtually staged.
The price? It varies, but Kim Palmer of Minnesota’s Star Tribune says that virtual staging may cost up to $100 per photograph, but you can find virtual stagers online that charge as little as $40 per photo.
Hire a professional tenant
We don’t get it, but some people don’t mind moving frequently, especially those who are “resident managers” who work for home staging services like Showhomes. This process takes staging to an entirely new level, and homebuyers will not only see a furnished home, but a lived-in home, complete with a stocked refrigerator and clothing in the closet.
The managers bring their own upscale furnishings and accessories, and they even pay their own utility bills. Showhomes pays for the homeowner’s additional insurance costs.
Home managers aren’t suitable for all homes. In fact, Showhomes will only work with homeowners whose homes are listed at $500,000 or more. Their fees run from $1,000 to $3,000, and some companies also ask for a percentage of the sales price.
While selling a vacant home may be unavoidable, there are simple ways to make it look lived-in. You owe it to your bottom line to do all you can to make the home as attractive as possible to buyers.
Rob Proctor is the broker/owner of At Home Real Estate Company in Loveland. Rob calls Northern Colorado (Loveland, Fort Collins, Greeley and Windsor) his home with his wife and three daughters. To contact Rob, call 970.481.2133, rob@athomerealestateco.com or visit athomerealestateco.com.
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