The staging proof is in the statistical pudding. In home staging, pretty is good, but not everything. Spade and Archer also delivers the goods, physically and financially. Below are the facts about our success, just the facts ma'am.
Average days on market since November 2009
- General market : 90 Days
- Spade and Archer projects: 11.7 Days
- Spade and Archer houses go pending 87% faster than the general market
THE TOWER CASE STUDY:
Lets talk about The Tower. It's a cool story, but please note, the names have been changed.
Unit 1910 in The Tower has been on the market, vacant and unstaged for over 4 months at a price of $399,000. We staged unit 2210 in The Tower just last week, it went on the market a few days later at a price of $415,000. The views, layout, finishes and fixtures (down to the Murphy bed in one of the bedrooms) is exactly the same in both units.
The unit we staged (2210) went pending in just 4 days. The Realtor spent a total of $2,190 to stage the unit and it sold for $16,000 more than the exact same unit just a few floors away. So if we subtract the cost from the profit $16,000 - $2,190 we can see the return on investment or ROI is $13,810.
This is what working with Spade and Archer is all about; identifying the exact improvements to achieve the highest ROI in the least amount of time.
PS - The unstaged unit 1910 is still on the market at $399,000.
MAPLE STREET CASE STUDY:
It’s that time again to put on our thinking caps talk about Days on Market, or DOM. I know it is more fun to talk about the pretty stuff, but honestly when it comes down to it, the entire point of the pretty stuff is to get more of the green stuff. If you want more of the green stuff, then you want less DOM. Here is a case study, the names have been changed to protect the innocent.
123 NW Maple Street is a condominium complex with six identical units. Two of the units went on the market within a month of each other this past summer. Both units originally listed at $519,000. The two units are mirror images of each other and have comparable finishes, fixtures and amenities, so it would make sense that both realtors would come up with the exact same price.
The realtor for Unit A (we will call him Realtor “A”) called Spade and Archer for a consultation prior to going on market, which is his usual practice. We gave him a few minor suggestions and pricing of $2,510 to stage the entire unit. He and his client proceed with staging about a week later. It went on the market and went pending at full price within a few days.
About a month later we received a phone call from the realtor for Unit B (we will call him Realtor “B”). Realtor “B" asked how much it cost to stage Unit A. We looked up the price and let Realtor “B” that we would be more than glad to stage Unit B for the same cost. We did not even hear back from Realtor “B”, but a few days later Unit “B” dropped their asking pricing to $499,000. For those of you keeping track, that is a $20,000 price drop. So here is what it all boils down to. The more Days on Market you have, the less money you can ask for.
The total investment for Realtor “A” was $2,510 and the return was $20,000. The ROI in this case is $17,490 as well as a fast sell, and a happy client. Unit B is still on the market as of this morning. This is what working with Spade and Archer is all about; identifying the exact improvements to achieve the highest ROI in the least amount of time.