Want to learn a simple mind-control trick that can add 10 percent to your real estate sales prices? I’m Carole Ellis, and I’ll tell you exactly what you need to know to leverage this SPOOKY but highly effective real estate strategy in episode 5 of REI Today.
Let’s go ahead and tack an extra ten percent onto that your next real estate profit, shall we? I’ve got good news. This strategy won’t cost you a penny, and it’s as easy as, well, rearranging your furniture. I’ll explain. First though, speaking of furniture, can you imagine a scenario in which it would make GOOD INVESTING SENSE to put $6,000 into a beer pong table? No? I couldn’t either, but in some cases, turns out I was wrong. Get the scoop on the situations in which it makes sense to sink CRAZY CASH into WEIRD HOME AMENITIES in our News and Networking Section at REI.Today. I’ll tell you not just about the craziness, but the actual, real-life payoff story as well. Now back to mind control…
First let’s set the scene: You’re selling a property, and it’s a GREAT piece of real estate. You got it cheap, you’re selling it high (but still competitively, haha) and you know that the bidders are going to be lining up to throw money at you. It’s the best house for the lowest price on the block. You can’t lose.
But then, you DO lose. People swarm your showings but when they arrive, something just feels off. They don’t “ohh and ahh” over your awesome renno the way they should. They don’t even stay in one room long enough to really appreciate the great light, the fantastic amenities, and, weirdly enough, they don’t even seem to notice the great views. It’s so weird. You can’t figure it out, but the answer is, oddly enough, YOUR SOFA.
Let me explain. We’ve all heard of staging and you know how important it can be when you are selling a property to owner occupants. People who are going to live in a house tend to buy based on the emotional appeal of the house and their ability to imagine themselves living, HAPPILY, in that house rather than based on the hard numbers such as the lowest price, the best value, etc. Staging helps your buyers imagine themselves in your property and spurs them on toward putting in an offer and participating (we hope) in a bidding war.
So what does your sofa have to do with all of this? Well, it could literally be costing you buyers if you have made one or more errors with its placement or appearance. Here are some MAJOR potential problems that a simple sofa can cause in a listing:
First of all, poor placement. Remember those awesome views? Place the sofa so that you could sit on it and enjoy those views! If you don’t, your buyers subconsciously will be directed away from the windows and toward wherever your sofa is facing, like that blank wall. Bad move.
Second of all, your sofa could be contributing to a lack of purpose. A lot of times investors and other sellers will simply throw a few pieces of furniture into a room and consider it “staged.” However, if your sofa doesn’t appear to have a purpose for being there – maybe it’s stuck against the wall, for example, rather than positioned to provide cozy proximity to the fireplace – then your buyers, again, subconsciously, will feel “lost” in the room because it will not feel like the room itself has a purpose other than to house that random sofa! Crazy, but true. When buyers feel a lack of direction in a room, they feel uncomfortable and, bad news: they LEAVE.
Finally, that sofa (sorry but hey, not really so sorry) could just be plain ugly. Or, more likely, unrelatable. Remember how we said the point of staging is to help buyers imagine their OWN STUFF in a property, thereby creating an emotional connection that ties them to the property and makes themx more likely to start a bidding war? Well, if your sofa is unusual or somehow inappropriate for your buying demographic, say too luxurious for first-time homebuyers to own or too “custom” or trendy for the boomers you are courting, then that psychological switcharoo where they imagine their own sofa where yours currently sits is less likely to happen. And, as a result, your high-priced sale is less likely to happen as well.
So let’s put some hard numbers with this sofa so you can really see what you stand to lose. According to the National Association of Realtors (that’s the NAR to the association’s friends, by the way), a home that is EFFECTIVELY STAGED will gain between one and five percent on its selling price, at a minimum. About one in 5 realtors showed hard numbers indicating that the price increase for THEIR STAGING is closer to 10 percent – think maybe they’re listening to REI Today?
And before you think that you simply can’t afford to stage a home, don’t worry: you don’t need to stage every room (most people actually only stage the living room and kitchen), and you don’t have to fill the place with furniture! Ultimately, you just need to demonstrate a PURPOSE for each room and then use your staging materials to direct buyers’ attention to the high points in those rooms.
So effectively staging a property can earn you a 10-percent price bump at the closing table, but failing to key in on the subconscious clues you’re sending your buyers with your staging could literally kill your listing. Don’t let that sofa cost you thousands! Get all the information you need to stage a home CHEAPLY AND EFFECTIVELY while using your buyers’ subconscious minds to make the sale by accessing our free report on “Mind Control Staging” in the REIToday Vault. If you’re not already a member of the REITODAY Vault, text 33444 RIGHT NOW or visit REI.Today/vault to get immediate access to these shocking and valuable pictures. Text one word REITODAY with no spaces or periods to 33444 or visit REI.Today/vault.
When you do that, you’ll also be able to GROW YOUR NETWORK by interacting with me and your fellow listeners to REI Today… so stop by to ask questions, make comments and network with other investors across the country! Just text the word REITODAY with no spaces or periods to 33444 or visit REI.today/vault right now for your free membership.
Thanks for listening in. Be sure to listen in to Episode #6, where you’ll learn what local produce has to do with YOUR PROFITS. I guarantee you, it will surprise the KALE out of you. It’s available right now on iTunes, Stitcher and at REI.Today, so get it right away!
REI Nation – always remember this: Your best investment is YOUR OWN EDUCATION!
Carole Ellis is the host of Real Estate Investing Today, a popular 9-minute daily podcast focused on educating real estate investors about the important topics that will make their investing SAFER, FASTER, and MORE PROFITABLE. She's also the editor of the Bryan Ellis Investing Letter. She has more than a decade's worth of experience in and reporting on the real estate industry and, additionally, has written dozens of courses on the topic. Carole lives in Kennesaw with her husband, Bryan, and four children. She believes wholeheartedly that your best investment is always your OWN education.