In today’s fast-paced real estate market, house owners are seeking whatever advantage they can get to make their properties stand out. Staging a home and making them as attractive and inviting as possible is one method to do so.
Home staging has been shown to improve a home’s selling price by $5,000-$15,000 on average, and it also encourages purchasers to buy sooner than they would otherwise.
What is the mechanism behind it? Professional stagers will come into your space with professional equipment like furniture, artwork, window coverings, and more to help you sell your home quicker than you could on your own!
What Does a Home Stager Do Exactly?
Cluttered or worn-out-looking properties take longer to sell and, as a result, are less likely to sell for a decent price. A home stager’s goal is to increase the probability of a property selling fast and for the highest feasible price by making it more desirable to prospective buyers. Home stagers are masters of renovating, staging your home with furniture and accessories to make it appear as lovely as possible.
They don’t do this for free; instead, they charge for their services. The cost of hiring one varies depending on the size of your home and the number of rooms they need to stage, but you can expect to spend between $500 and $1500 per room.
Although hiring a professional may seem like overkill when attempting to sell your home, research performed by the National Association of Realtors have shown that staging may improve the selling price by an average of $8000-$10000.
In terms of time, experienced home stagers are trained to work swiftly and effectively, so your home will be ready in a matter of days.
Getting Your Home Staging Business Off the Ground
In your local real estate market, find out which houses sell quickly and which do not. What are some of the things that prospective homebuyers look for while looking for a home?
Learn about real estate brokers who may be a helpful source of information about current market conditions as well as a possible client source.
Make a list of all the homes you’ve staged thus far. Begin by concentrating on your own home. All of this is explained in full in the instructions below.
Make findings of the real estate market in your region.
To be successful in business, you must first understand your target market’s goals and needs. Living in a posh neighborhood necessitates a willingness to spend a lot of money on luxury items. If you reside in a more remote place, you’ll have to be ready to forego high-end purchases. Understanding this is crucial to properly market your goods and services.
Do some research on the housing market in the area where you wish to launch your company. It’s also a good idea to be aware of current regional architectural and interior design trends so you can integrate them into your plans.
Take these questions into consideration:
- How long do you intend to remain at this place?
- How much does the typical person spend on a home, and how does this compare to other parts of the country?
- How many houses were listed and sold at those hours last year?
Choose a Specific Market Audience to Target.
When establishing your home staging company, this is one of the most crucial things to consider. What methods do you intend to use to narrow down your target market? Do you want to focus on a certain sort of real estate agent or housing condition, such as short sales or foreclosures? Or are you aiming for a broad appeal that will appeal to a wide range of houses and homeowners?
For example, you may build a network of local flippers with whom you can partner on real estate deals. Consider specializing in huge estates and luxury residences if you want to operate a full-fledged business. This allows you to target a specific group of people who are willing to pay a premium for your services.
Make a pricing strategy.
Pricing might be difficult, but it’s an important part of the company growth process. You should consider your financial commitments, the length of time each task is willing to take, and any other factors that might cause problems in the long term.
If you’re not sure where to begin, start by determining the number of rooms to stage and the cost per room. The number of hours you’ll require is determined by how much, if any, furniture has to be relocated. Let’s imagine you have six rooms in your home that need to be staged. You should charge by the hour since it is a simple approach to calculate the cost.
Make up client contracts.
A robust contract is required for every kind of work relationship. Use pre-made templates or consult an attorney to come up with terminology that is appropriate for your situation. However, there are a few standard features that should be included in each contract.
Set out the price schedule and payment schedules, for example, so that no one is confused about who owes what at any particular moment. This also enables you to receive a home staging consultation without being obligated to pay anything more than the meeting price.
Liability insurance is a wise investment.
You should acquire liability insurance to protect your losses if you accidentally break or damage anything in a client’s home. The last thing you want to deal with is a court struggle or pricey home repairs. As a result, make sure you’re safe.
You may believe that liability insurance is unnecessary since the worst that may happen is a disgruntled customer. However, if someone is wounded while working in your client’s home, this might result in legal issues and probable litigation. So, when you start your firm, buy insurance to protect yourself from any possible future troubles.
Also, ask other real estate agents about their home staging liability insurance experiences.
Make contact with local real estate agents.
Begin with providing guidance to homeowners who want to sell their properties on their own. Connect with local realtors so that they may promote your services to their customers when they inquire about staging or if a home needs assistance before it is put on the market.
These agents are just as eager to sell their clients’ properties as they are to sell them quickly and for a high price. To establish contact with them and provide your contact information so that they may refer you to potential buyers when the time comes.
Obtain a Discount from Home Decor Supplier
Some homeowners clean and organize their homes properly before selling, while others might need a few finishing touches. In any case, you’ll almost certainly need to add extra décor to fill in the gaps and make it more desirable to potential purchasers. So, where can you get low-cost home décor?
When you’re just getting started, checking with friends and family might be a good place to start. You could have a friend or family who is updating their furnishings or getting rid of certain belongings after downsizing. In any case, these goods can be ideal for your staging project!
You may also browse for low-cost furniture and home décor shops. Keep in mind that you’re not seeking high-end items here; rather, you’re searching for something that will give off the correct atmosphere without breaking the bank.
Finally, don’t overlook social media platforms such as Facebook Marketplace and Craigslist! If you know how to search with the appropriate phrases, you might discover some incredible savings in these sites.
Create a blog
Having an online presence is necessary for every company, just as it is for any other. However, in a visually attractive and fast increasing sector like home staging, it’s critical. How you present your website will have a significant impact on how soon it gets discovered.
How frequently do you come across a company with an out-of-date website? Isn’t it true that this doesn’t happen very often? That’s because they realize how important it is for websites to seem current and professional. If yours seems to be outdated or unprofessional, prospective customers may be hesitant to trust what you have to offer.
Carefully consider your company’s brand.
Design is a key factor for home stagers. As a consequence, you must ensure that your branding, as well as the design of your website and marketing materials, are professional and consistent with your style.
When you start working with customers, your brand will be the first thing that comes to mind when they’re looking for a home staging firm.
Make a portfolio of the houses you’ve helped to stage.
A portfolio of houses staged by a competent home stager is a must. This not only helps you to show prospective clients your work, but it also lets them see your style and how well you understand what works for premium design.
How do you go about making one? To begin, visit every real estate website you can. You’ll want to pick houses that are comparable to the ones you want to present for possible customers in terms of price, size, and degree of the home.
Make a local advertisement
You’ll also need to establish a customer base to get started. How do you go about doing that? I can tell you for sure if you do some local promotion; place fliers on grocery tables and business cards at the local realtor office.
Include a link to your website URL so that they may see photos of previous staging work or read testimonials.
It’s also a good idea to engage a professional brand strategist and designer if you don’t know where to start.
Compile a list of testimonies.
Obtain some references from individuals who have worked with you. What was the total amount of money they saved? How straightforward was the procedure for them? How would employing your services help them sell or buy a home? For instance, one consumer may have said that “My apartment was sold in three days after an offer was accepted! I was able to save $20!”
Make sure to include client testimonials on your website and in other marketing materials when you’ve acquired them.
Advantages of Owning a Home Staging Company
If you have an eye for interior design, starting a home staging firm has a lot of benefits. Some advantages of beginning a home staging company include:
- You have complete control over your schedule.
- Some stagers work part-time to supplement their income.
- Staging is a relatively new profession that requires little education and expertise.
- Because of the constant stream of new homeowners, there is constantly new business.
- You get to meet new individuals every day and assist them with their most important investment (their house).
The Drawbacks of Starting a Home Staging Business
Home staging, like any other business venture, has its negatives, which include the following:
- How much money you can anticipate making if you conduct your own home staging instead of getting compensated by realtors or homeowners
- Getting your first customer with whom you may build a portfolio.
- Because many of your clients will be able to meet with you only on weekends and/or evenings, you may be required to work those hours.
Starting a home staging company, like starting any other business, is fraught with challenges. You should be well-prepared and knowledgeable of what you’re about to embark on.
Seasonality exists in this industry, just like it does in other enterprises, and it’s crucial to be aware of it ahead of time. You’ll need to account for income fluctuations since most people sell their homes in the spring and summer.
Additionally, get advice from successful company owners, even if they are not in your sector, on how to start your firm, and search up some useful resources on the internet. Reach out to realtors ahead of time to learn what they’re looking for and how they use home stagers.