Don’t Accept Candy From A Stager

By:  Jeff Shiller, Esq.

I know it’s tempting.

They dangle the “low cost” carrot in front of you.

They say, “Come here, Mr. Rehabber.  Step into my van.  I charge less than anyone else.  Hire me!”

You’re on a tight budget.  The electrician charged you too much and the market sagged another 2%.  So to cut corners, you give in to temptation.

S-T-O-P!

STEP AWAY FROM THE CREEPY STAGER IN THE VAN!!

Cost is certainly a factor, but don’t hire any stager until you ask 7 critical questions.

In my previous post on staging (read here), I commented on how important it was in this market for rehabbers to hire a top-notch stager to properly stage their properties for resale.  Staging your property correctly can result in your property being sold 80% faster and for a 7% higher price.  That means a big difference to the bottom line, so it’s worth the expense if you have the right stager.  But how do you find such a stager?

I asked a staging expert, Karen Lawlor, to put together a list of questions for our readers to make sure they’re not wasting money on an unqualified stager:

1. What’s your average days on market?

This speaks for itself.  If he doesn’t know the answer, be worried.  It means he doesn’t properly track the results of his work.

2. Do you have before and after pics of your work?

Staging is a very subjective art form.  How do you know this stager has tastes similar to you or, more importantly, your buyers, unless you see and analyze the results of his or her work?

3. How many properties have you staged?

It’s tough to knock someone just because she lacks extensive experience, but how do you know she’s good without experience?  Your rule of thumb should be the less experience she has, the more she should have to prove results to you, and for less money.  The person with experience and proven results should ask for and get higher compensation.  Like it or not, expertise costs money.

4. How many other investors do you work with?

Working with homeowners is one thing – investors another.  Your stager should understand the differences.  Ask the stager what services he or she has provided to other investors.

5. Can you describe your experience with building material selections?

Related to Question #4, a good stager will be able to consult with you even prior to beginning your rehab to help you select building materials, kitchen cabinets, flooring, fixtures, etc., that properly map to your budget and buying demographic.

6. What is your fee and specifically what does it cover?

Many people do not ask this question, thinking all stagers charge for the same exact service.  But stagers can provide many different services for you, and you will want to know what services are being offered.  For instance, does the “flat fee” cover shopping for accessories, or meeting with the kitchen people to help lay out the look and feel of the kitchen?  Make certain you tell the stager exactly what you need and that the fee covers what you expect it to.

7. Where do you get your inventory?

Some stagers are able to charge less because they have storage rooms full of furniture that they use in every house.  This may save money on furniture rental, but there is a down side.  How much furniture could one person have?  Is the good stuff already being used elsewhere?  Moreover, each house you have will likely appeal to a different type of buyer.  Will this “stock” furniture appeal to every type of buyer?  If budget allows, you may want to have the furniture hand-picked from a rental furniture store to make certain the decorations flow properly with the neighborhood, as well as the colors and style of house.

One other very important point on hiring a stager:  Make sure you get at least 3 referrals from any prospective stager and call them all.  At least one referral should be a property investor.  Ask the referrals about their experiences with the stager and what services they felt were most important to have.

Thanks to Karen for these great questions!

Next week Karen will appear in a low budget yet exciting video on proper staging for investors, and will share lots of free information.  Don’t miss it!

Til’ next time,  Jeff

 

P.S.  If you have any other staging questions, or need expert staging advice, contact Karen at karen@stagingsolutions.biz.  Her website is www.stagingsolutions.biz