Naturally, when you sell a property you want to make a profit, the more you make the better. There are several ways to maximise your profits, but one simple method that is often overlooked is staging a property before you market it.
Many people ignore this method because they do not really think that it is worth the effort. In reality, this could not be further from the truth.
A 2015 survey carried out by the National Association of Realtors shows that homes that are staged sell for up to 15% more than properties that are not.
Staging a property is far easier to do than you think. You do not need to be an interior design expert to do it.
These days hiring a professional property stager is easy and not as costly as you might think. Companies like Emblem Furniture have streamlined their business and now offer everything from show home furniture hire to a full staging service.
Staging firms know that the only way to ensure that they turn a profit is to provide you with value for money. As a result, they price their services to make sure that you make a big profit even after paying them.
Staging helps you to turn over properties fast
Using a staging service is especially cost effective in a market where property prices are rising. The fact that you can add up to 15% to how much you are paid for your property means that you can easily afford to use a staging service.
In a rising market turning over properties fast is key to taking advantage of the boom. If you have money tied up in a property that you cannot sell, it is not available for you to take advantage of another investment opportunity. All the time you are sitting there with your money tied up the cost of the property you want for your next project is rising.
Statistics show that well staged properties sell far faster than those that have not been staged.
Staging improves cash flow too
Selling properties fast helps you to keep control of cash flow. It means that you never have to leave a contractor or supplier unpaid, allowing you to build a strong relationship with them.
Contractors always want to work for developers who pay on time. It means that when they get busy, they are far more likely to choose to complete your job first rather than opt to work on another property. They are also far more likely to feel comfortable making deals with you and offering you a discount.
As you can see, there are many advantages to staging your investment properties before marketing them. This also applies to commercial properties like offices.
Staging costs money, but when you do it right you easily get your money back and turn a nice profit. It is not hard to do, so if you are not staging your properties already why not give it a go next time one of your buildings is ready to be marketed.
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