One walk through a home tells Rachael Stafford what adjustments are needed to pique the interest of potential buyers.
For Stafford, the founder and creative director of organizing and staging company Order in the House, changes can range from decluttering rooms to services like painting and repairs, or even bringing in furniture rentals.
It91裸聊视频檚 a service valued by homeowners, she said, especially in a hot market where sellers look to gain any advantage that can help drive up the price of their property.
But as home sales throughout much of Canada have turned sluggish, home staging services have taken a hit as sellers rethink the cost of a thorough revamp, Stafford said.
91裸聊视频淲e91裸聊视频檙e still supplementing with some (furniture) rentals where rooms really need it,91裸聊视频 she said. 91裸聊视频淏ut I find that sellers are more so trying to scale back a little bit on the rentals, concerned about the initial investment and the ongoing monthly fees should the property not sell quickly.91裸聊视频
Stafford, who is based in the Toronto area, said companies like hers have had to adapt in this high interest rate environment after a years-long housing boom. When interest rates were low coming out of the pandemic, 91裸聊视频渞ealtors and homeowners were willing to put in that extra money and go that extra mile because they knew they were getting the [return on investment] on it,91裸聊视频 she said.
But now, many clients are either relying more on Order in the House91裸聊视频檚 decluttering and home organizing service or simply tidying up themselves based on advice received from the initial consultation.
91裸聊视频淲e have a warehouse where we store our staging accessories. It91裸聊视频檚 obviously very tough to be incurring those monthly storage fees when staging is not busy,91裸聊视频 Stafford said.
91裸聊视频淚 think people forget staging appears to be a very glamorous industry, but there are a lot of moving parts behind the scenes. Thankfully, our organizing services help compensate for the slower trends in the staging market.91裸聊视频
According to a study by the Real Estate Staging Association, 45 per cent of staged homes in both Canada and the U.S. sold for more than the seller91裸聊视频檚 listing price from January to September of last year. That was down from 63 per cent in both 2021 and 2022.
The Canadian Real Estate Association reported earlier this month that the number of newly listed homes fell 5.1 per cent on a month-over-month basis in December. It noted that Canadian housing markets have remained quiet since the Bank of Canada91裸聊视频檚 interest rate hikes last summer.
Cailey Heaps, president of the Heaps Estrin Real Estate Team in Toronto, said that with the region91裸聊视频檚 home sales at a 20-year low, staging companies are 91裸聊视频渇ar more available than they used to be.91裸聊视频
She said the biggest shift in client behaviour that she91裸聊视频檚 noticed has been sellers choosing not to maintain the staging in their homes for the duration of the listing.
91裸聊视频淭hey might stage for the first month and then if it doesn91裸聊视频檛 sell, they remove the staging 91裸聊视频 and go back to living with the way they had the house, but rely on the photos from when it was staged,91裸聊视频 Heaps said.
She added that if she suspects a listing is going to take longer to sell based on factors such as geography and price point, she will recommend clients invest in a more 91裸聊视频渃onservative91裸聊视频 amount of staging that can go the distance.
91裸聊视频淪o suggesting, 91裸聊视频極K, let91裸聊视频檚 stage the main floor, the primary bedroom, but we can leave the kids91裸聊视频 bedrooms in thebasement,91裸聊视频91裸聊视频淗eaps said.
Home stagers have had to be more creative to account for the longer listing periods and added flexibility sellers need in the current market, said Katie Walker, principal designer at Katie Walker Interiors. She said the slower market hasn91裸聊视频檛 affected the volume of business for her Greater Toronto staging company, 91裸聊视频渂ut it has changed the way that things are done.91裸聊视频
In addition to traditional staging, where physical furniture is rented to place in the home, her company offers the option of virtual staging, which saves both money and heavy lifting.
Designers are able to blend 3D models of furniture into photos of the seller91裸聊视频檚 home and digitally remove some of the existing furniture. Walker said the option isbecoming more popular, especially as part of a hybrid staging process that still includes physical remodelling of high-priority rooms.
91裸聊视频淲hat we91裸聊视频檙e seeing is obviously longer days on market, so it91裸聊视频檚 affecting the way the homeowner will treat the transaction. Instead of saying they91裸聊视频檒l get a hotel for a week and incur that cost, they91裸聊视频檒l be living in the property,91裸聊视频 said Walker.
91裸聊视频淚n the old days, back in COVID, I would have said, 91裸聊视频楻emove that desk so we can make this space look larger.91裸聊视频 Now I91裸聊视频檓 hearing more of, 91裸聊视频榃ell, I have to live here for the 45 days that this is going to be on market so let91裸聊视频檚 make that work.91裸聊视频91裸聊视频
With forecasts of a potential rebound in the housing market this year as the Bank of Canada looks to begin cutting its key interest rate, Stafford said she91裸聊视频檚 hopeful the staging industry will see a similar bump. She said even minor touch-ups by a professional can go a long way.
91裸聊视频淵ou really want your home to show at its best, particularly in the photos for the MLS listings,91裸聊视频 she said.
91裸聊视频淏uyers 91裸聊视频 are browsing photos (and)listings online before they91裸聊视频檙e even willing to reach out to the sellers91裸聊视频 realtor to book a showing. So if that house doesn91裸聊视频檛 show at its best, sellers are really missing an opportunity.91裸聊视频
Sammy Hudes, The Canadian Press