Vacation Rental By Owner

Planning to travel this summer? Going to a business conference in another state? Going to spend several months in another state on business? Sold your house but cannot move into the new place right away?

That last one was me a year ago. My family moved to the new house in North Carolina. But I remained in Atlanta to sell the house and finish out my time in Corporate America. Someone told me about the vacation rentals by owner concept and, boy, did I have fun! I stayed a time in a warehouse loft conversion. Then, because someone else had reserved the conversion (a person who spent a month there each summer) I moved easily into a brand new high rise condo.

Just think of it. All the comforts of an apartment but no utility bills. Really nice, comfortable furnishings. All the comforts of home. Many more comforts than a hotel room, but around the cost of a hotel room. AND in each case, the owners were nice people totally motivated to ensure I had a wonderful experience.

If you are traveling for any reason, I suggest you do an internet search on "vacation rental by owner" and have some fun exploring this option.

There are potential issues. One place I almost rented was high rise with one, central thermostat: the upper floors were way too hot and the lower floors was very cold. In another place, I would have had to step over sleeping homeless people to get to the parking at 04:00 AM when I left for the office. They might have been very nice people, but I chose to look elsewhere. Some places did not have adequate laundry facilities, some had a washer/dryer right in the unit - great for evening clean up.

So, when I say you should explore this option, I mean ask a LOT of questions. Find an owner you are comfortable working with. Ask for, then contact references. Choose carefully. Then have a really good time!

Tomorrow, we are going to talk about Staging to Rent - a new phenomena that is sweeping the staging world.

Have a wonderful Wednesday, and a great vacation!

Do Staged Homes offer benefits to buyers?

Okay, I am not a complete fool (just a partial fool). I know some people think staging a house hides defects, making it dangerous for buyers to trust obviously staged houses.

AND, I know some stagers do try to hide defects. I, and the stagers I work closely with, consider that completely unethical. If there is a fiscal choice between fixing faults and staging the house, I tell my sellers to fix the faults. Then I offer very inexpensive suggestions about how to make the house show better.

Staging a house showcases it, yes. Buyers find a staged home welcoming. It is easier for them to imagine living there, in effect, it is easier for them to try it on for size. So, if it does not fit they can feel secure in saying, "This is not the one".

If it does feel like a fit, staging explains the house to them. Is there an oddly shaped alcove in the kitchen? Staging shows buyers how they can live in the house by explaining oddities. Say there is a rather odd alcove in the kitchen. Staging installs something that makes sense, like a computer desk in a large alcove or a tower of drawers in a narrow alcove. The buyer can see one way the oddity can be useful. From this jumping-off point, the buyer can imagine how he/she can use the space.

But if there is something wrong, good staging should not disguise it. Furniture or decorations should never hide nasty flaws or holes in the walls.

When I stage a house, I strive to make everything about the house very, very clear. For example, I arrange furniture to make sure buyers will be able to test every outlet and telephone connection.

Staging helps buyers. Buyers should be able to trust staged homes more than they can trust houses that are just lived in.

Staged Homes tell a story, yes. And that story should always, always be true.

Have a great Tuesday!

MPB Continued

How do I know who the Most Probable Buyer (MPB) is? And how do I know what they want?

Excellent questions!

If the house is listed, I have a long talk with the agent. If the seller is an House Investor, we have the same talk. Agents and Investors use their knowledge of the MPB to guide many of their marketing and renovation decisions. And they are very motivated to do whatever they can to ensure the staging is going to appeal to that MPB.

Recently, I put a sofa that was not clearly contemporary into a vacant house that clearly is. Before I could bring in the rest of the furnishings, the Investor (bless him, I love working with intelligent, concerned people) called to express concern. I assured him that, although the sofa was transitional, the end result was going to be contemporary. When he understood I was keeping his MPB in mind, the Investor was happy. And when I added contemporary accessories and additional furniture, the sofa "picked up" on the theme and fit right in. I used that sofa to save the Investor money. And, that worked too.

If the seller is not an Investor and is planning to sell FSBO or has not yet selected an agent, then I talk to the seller. Who has recently moved into the neighborhood? Who lives there? Young families with small children? Retirees? Singletons?

We live in a pretty atomized society. Sometimes the seller knows nothing about their neighbors.

What do I do then?

Well, I look at the seller's own furnishings. There is a very good chance they are representative of the MPB. Of course, there is always a risk that the seller loves shabby chic and lives in a warehouse loft conversion. The seller may be representative of nothing but their own individuality.

I attend Open Houses. And I make a lot of notes about each neighborhood and about what I find in each house. I keep those notes and use them as reference before I begin staging.

How do I know what what an MPB expects and needs in a house? Those Open House notes are invaluable. Beyond the notes, I read decorating/design magazines and blogs by the long ton. And, bet you guessed this, as I read I make notes.

Here are some simplified examples:
Neighborhood A is a retirement community. The MPB wants to know where the grandchildren are going to sleep and play when they come to visit. And they want a room where they can craft/read/paint/sew/do their own thing.

Neighborhood B is McMansion all the way. The MPB is a married couple, both are probably employed, with 2.34 children. They want to know where the children are going to sleep/play/do homework. They want to have plenty of space to entertain business contacts, a formal dining room is a must. And they want to know where they are going to find space for personal downtime. They may never use it, but they want to know there is a space they can use as a retreat. A really opulent master bath can really work for them.

Neighborhood C is a warehouse converted open-concept loft homes. The MPB is probably single or married, has no children, do most of their business entertaining at restaurents, and consider the whole loft to be their personal space. Contemporary/modern, sleek, and extremely uncluttered/simplified/spare is going to catch their imaginations. They need a good place to put the laptop(s), they need to see where the huge but flat TV will go.

This discussion will complete tomorrow. Does anyone have requests for the next topic?

I hope you have a great day!

Stalking the wiley Most Probable Buyer

The Keller Williams Vendor Fair was a blast. I shared a booth with a fellow stager (a great lady I frequently work and laugh with). I met a lot of great people and got a lot of good leads - going to be very busy seeing who and how I can help in the coming days. One agent had tears in his eyes when he described the very sad situation one of his client's is in. I am very hopeful staging will help that poor lady get out of her house, and her situation quickly.

Now, on to that elusive Most Probable Buyer!

Stagers depersonalize. Stagers neutralize. Stagers go in to an occupied house and remove a lot of things, then rearrange what remains to appeal to the greatest possible number of potential buyers. All that means stagers make everything as possible and don't care about design style, right?

Well, that is a very good question.

For some stagers, the answer is, yes, they just remove and rearrange. And, they get good results - the houses sell faster and hold their value better than unstaged houses.

But, some stagers take it a step further. They consider the architecture of the house, neighborhood demographics, and how the house is most likely to be used (primary residence, weekend retreat). Then, they tune their staging to the demographic most likely to buy, and to the architecture.

For example, the house is contemporary with three bedrooms. The MPB is a young professional couple still a few years away from starting their family. The Master Bedroom is staged as the master - a retreat, a wonderful place to rest and recuperate - all stagers do this. The second bedroom is staged as a bedroom, the place guests recuperate. The MPB, seeing the purpose of the room, will easily adjust and increase the purpose to "and we can convert it to a child's bedroom". The third bedroom I stage as a home office. The MPB will feel an immediate connection to this - a place to work, a place away from the TV. Staging that home office tells the MPB the house will meet their specialized needs. This is a huge help towards selling.

On the other hand, still three bedrooms, still contemporary, but neighborhood demographics say the MPB is a retired couple who are going to spend most of thier days on the golf course, volunteering, and hosting guests. All three bedrooms remain bedrooms. Or, if the house is vacant the third bedroom, the last room buyers will view, remains empty. By the time buyers get to it, they should have connected to the house and be ready to imagine using that room to fulfill any remaining needs ("I can make this my craft's room.")

If there is a desk in the kitchen, I may stage a computer on it.

Vacant downtown lofts get tight contemporary staging in a very modern color palate. Vacant country homes get relaxed more colorful staging.

In an occupied house, if I need to pack away three vases and leave only one out, that one is the vase most consistent with the expectations of the MPB - without personalizing or deneutralizing the room.

More about how to figure out who the MPB is and what they want tonorrow!

Have a wondeful day!

argh

I have been up since 02:00 AM printing handouts for the Keller Williams Vendor Fair today. Somehow, I don't think the new printer is working out.

The discussion of the Most Probable Buyer will resume after I survive this marathon.

I hope you have a really good day.

The Degrees of Staging: Take it up a notch (Advanced)

Advanced Staging, is what I call "Take It Up A Notch":
- Applies to both furnished and vacant houses.
- Brings things into the house or yard if needed.
- Incurs a certain amount of expense, depending on the staging activities.
- Sustains or enhances the asking price, even if the house is priced somewhat above it's comparables.
- Should always be considered, and frequently should be done, before a house is listed.

What does that mean? Well, for one thing it means Staging is an investment sellers make towards selling their houses. Like all investments, cost v results, should always be considered. The seller's budget is the deciding factor here. The seller may be able to afford, and choose to do, everything, Basic and Advanced, on their Staging Plan before putting the house on the market. Or, the seller may choose at first to only do Basic Staging. Then, if the house does not sell in a certain period of time, the seller may choose to "take it up a notch".

So, here we go again.....

Phase One

Prepare To Stage

Let Go
As I said yesterday, this step is emotional, may or may not happen, and does not apply to the Degree of Staging.

Get To Know Your Buyer
Understanding the demographics of the Most Probable Buyer can have an enormous impact on whether and how much Advanced Staging is done. Whenever a staging decision must be made (should I replace the carpet? Would a contemporary cocktail table make the room look better?), the answer is based on (a) the seller's budge, and (b) what will appeal to the Most Probable Buyer? As we move forward in this discussion, this will come up again and again.

Tell Them About Your House
Only component, Close Down All Home Improvement Projects, is part of Advanced Staging. This goes to the condition of the house. This goes to buyer's perception of the condition of the house. Which in turn impacts how long the house will remain on the market and what much the buyer will offer. Unfinished home improvement projects have potential costs, but need to be out of sight (either completed or stopped) before the house is listed.

Designate A Storage Area
"Think of Staging To Sell as pre-packing to move" - is Basic

Phase Two

The Science Of Staging To Sell

Simplify Contained Spaces, Declutter

Pretty much, these are part of Basic Staging. It is possible to bring in decorative storage - like attractive baskets or boxes - to hold items that are needed daily but should not be left out. So, there is an Advanced Staging component. But, fundamentally, removing clutter and emptying contained spaces are Basic activities.

Depersonalize, Neutralize

These are always Basic Staging steps.

Phase Three

The Art Of Staging To Sell

Remember how yesterday I said "I bet you are thinking, if Science is Basic, then Art is advanced."

Well, there is some truth to that theory.

Purpose Each Room/Focus/Take A Stroll
Fundamentally, staging strives for "one room, one purpose". Advanced Staging comes in when the purpose cannot be made clear using what is already in the house.

Vacant House
This is the place to decide which rooms need to be staged, and what furniture and accessories to buy or rent to complete that staging. Always, always, when staging a vacant room bring in the minimum number of items. A sofa and chair is better than a sofa and a love seat unless the room is very, very big. One big picture positioned to highlight the fireplace is better than a picture, three candles, and a trailing plant on the mantle. Everything you bring into the house must be consistent with the Most Probable Buyer's expectations. Don't bring country plaid pillows into a contemporary loft.

Occupied/Furnished House
When the Basic Staging is done, look the room over carefully. Is anything missing? Is anything inconsistent with the Most Probable Buyer's expectations? Would the room be warmer, more inviting, if curtains framed the windows? Would replacing the countryside picture with a contemporary wall hanging help buyers move in mentally? Is the cocktail table out of scale with the rest of the furniture? Basic Staging says work with is already there. Advanced Staging says rent a new cocktail table, hang the new wall art. (Hopefully, the stager has these items available for rent at a low cost, so the changes can be made quickly.)

Consider Color

Because painting can cost a lot money, I include it in Advanced Staging. But, the color of the exterior and interior can make or break a sale.

In my previous blogs and on my website I talk about painting and color over and over. This is critical. But, this is expensive.

So, painting is the #1 Advanced Staging activity sellers should choose to do.

Suppose the Staging Plan called for painting, but the seller could not afford to paint. If the house is being shown but does not move in a reasonable period of time, the grab a paint brush.

Clean

Advanced cleaning brings in a professional cleaning service on a regular basis. Weekly, monthly, every six weeks, whatever pattern works for the seller's budget....Keep it clean!

Take It Up A Notch

During all those evaluative strolls around and through the house, a variety of possible improvements will be seen. The expectations of the Most Probable Buyer come into play here. Laminate counters in an upscale house? Consider replacing them with solid surface or granite. Carpet in the living room? Consider replacing it with hardwood flooring. See my website for an extensive list. Send me suggestions and I will supplement the list. Everything here is dependent on the seller's budget and the carrying costs of the house. Because everything here costs money AND improves the chances of making a fast sale.

Tomorrow, let's discuss Most Probable Buyers - who they are and what they want.

Have a great day!

The Degrees of Staging: Basic Staging

Yesterday, I said

Basic Staging:
- Only applies to furnished (usually occupied) houses.
- Works with what is there (does not bring anything new into the house or yard).
- Is really, really not expensive.
- Supports the asking price, if the house is priced competitively with it's comparables.
- Should always be done before a house is listed.

Today, I am going to talk about how this relates to my "Science and Art of Staging" theory.

Before we start, I want to admit that yesterday I said Basic Staging only applies to furnished houses, probably houses the family is living in while they sell, but maybe houses where the family moved and left many furnishings behind. I think I was wrong. One component of Basic Staging can be applied to a vacant house. I will address this when I come to it in the discussion below (curious? frustrated? want to guess what that is?)

Everyone ready? Seat belts buckled? Then here we go -

Phase One

Prepare To Stage

These steps include:

Let Go
This is the emotional transition from living in your home to selling your house. When the seller, when the family of the seller, can make this transition, both staging and negotiating the sale are much easier. When I work with sellers, I spend a lot of time on this. I would like to say this is part of Basic Staging. But, this is emotion and can only happen if and when the seller is ready. So, I cannot include making this emotional transition in any of the Degrees of Staging. This just is.

Get To Know Your Buyer
Understanding the demographics of the most probable buyer can have an enormous impact on whether and how much Advanced Staging is done. But, fundamentally, this is not absolutely required to stage a house. So, this one will be discussed in Advanced Staging tomorrow.

Tell Them About Your House
This includes having a Home Inspection, an Appraisal, writing a letter about the neighborhood, and documenting what you have done to improve the house. This is darn good advertising and will help buyers trust, and therefore consider buying, you house. But overall this is not part of staging per se.

Again, one component, Close Down All Home Improvement Projects, is part of Advanced Staging.

Designate A Storage Area - is Basic
"Think of Staging To Sell as pre-packing to move"
In Basic Staging, we are about to remove a lot of things from the furnished house. Deciding where the boxes and excess furniture are going to be stored is fundamental to successful staging.

The removed items can be neatly stored somewhere in the house. The basement, the attic, or the very last room a buyer sees when they tour the house all work.

Getting the items out of the house completely greatly improves the staging, and the time it takes to sell. A neighbor's basement, a family member's garage, work. If the seller can afford it, a storage unit is a great option.

Of course, as the staging is done, the initial decision about where things will be stored can change. But always this is fundamental, Basic Staging - put away distracting, excess items.

Phase Two

The Science Of Staging To Sell

Simplify Contained Spaces, Declutter

Pretty much, these are part of Basic Staging. It is possible to bring in decorative storage - like attractive baskets or boxes - to hold items that are needed daily but should not be left out. So, there is an Advanced Staging component. But, fundamentally, removing clutter and emptying contained spaces are Basic activities.

Depersonalize, Neutralize

These are always Basic Staging steps. These are either done or not done. These can be done multiple times - taking more things away or putting a few things back on each pass. But, there is no way to "Take this up a notch".



Basically, The Science of Staging is Basic.

Phase Three

The Art Of Staging To Sell

I bet you are thinking, if Science is Basic, then Art is advanced.

Life is never that straightforward.

Purpose Each Room
Fundamentally, staging strives for "one room, one purpose". This is Basic. Decide the purpose of each room (always remembering buyers need to see certain, hee-hee, basic purposes or they will have trouble mentally moving in to the house). Remove everything that does not support that purpose. Move the exercise equiptment out of the master bedroom - that is for sleeping. Take the computer off the dining room table - that is for eating.

Tomorrow we will discuss the Advanced aspects of establishing the Purpose of each room. But, this is Basic, and, basically, should always be done.

Focus
Highlighting Staging Points, showing buyers how to use unusual aspects if a room (like alcoves) is Basic. But, as you suspect, there are Advanced aspects.

Take A Stroll

Basic.

Arrange Furniture, Accessorize

Basic with Advanced aspects.

Consider Color

Now, this one is really, really interesting. And really, really open to discussion and disagreement. Some stagers paint. Some stagers work with painters. Painting can re-energize a space. Painting can make a very pesonal space impersonal. Painting can make an intolerable space attractive and appealing.

Painting ought to be Basic.

But, because some stagers recommend, but do not provide, painting; because painting can cost a lot money, I include it in Advanced Staging.

(What do you think about this one? I am a little torn about it.)

Clean

Basic cleaning it DIY. Advanced cleaning brings in a professional cleaning service (spends money).


As I wrote this, I found myself questioning the value of breaking out Degrees of Staging. I am going to continue with Advanced Staging tomorrow. But, in the end, I would appreciate your opinions: is there any reason to break out Basic and Advanced Staging?

See you tomorrow!