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Ask The Experts – Riding Out A Hot Sellers Market

Posted on by Debbie Boggs, Staging Studio Co-Founder

Advice on how to ride out a hot selling market?

– Carol Ann Wolf

I love this question, because I love myth-busting!  Staging is still incredibly important even in a “seller’s market”. Yes, it may be easier to find a desperate buyer when there is a shortage of housing inventory, but that is just the thing – that buyer is desperate. When something new comes available, they are pressured to jump on it and make a quick decision. It may not be their dream house, but, hey, sometimes you gotta just take what you can get. They may not be totally in love with it, but they make an offer anyway.
If the buyers stay interested enough to make it through the initial negotiations to get their offer accepted, there is still the inspection to get through. That can definitely be a buzz kill. By now, they are starting to have buyer’s remorse. Their financing is not going through easily. (Lenders have really been putting the squeeze on, and interest rates are rising).  Then the appraisal comes back low and they have to come up with more cash. (This is common in a hot market, as appraisal prices tend to trail a few months behind actual sales).
In the mean-time, another listing that they like better may come on the market. The buyers simply may not have enough passion to carry them over each of these hurdles. Losing the deal at this point would cost the seller a lot of precious time on the market, but the reality is that we are seeing a high percentage of contracts fall through.
That’s where staging comes in. It creates that emotional connection – that tie that binds. When a buyer is head-over-heels in love with a home, they will stick it out through the thick and thin of the entire process.
So all of that is what you need to communicate to your staging clients. At the same time, you will need to adapt to the current market weather. It may be that, with houses turning over more quickly, that you need to shorten your contract period. For example, if you were previously doing a 3-month contract, you might consider making it 2 months – or if it was 60 days, you might go down to 30.
You can also build up other revenue streams. A lot of people buying homes means a lot of homes needing new decor. Interior designers are on the prowl for clients with a new home. You have the jump on the designers, because you met that client before they even sold their last home and, even better, they already know they like you and your work.
Debbie Boggs, Staging Studio Co-Founder
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Debbie Boggs, Staging Studio Co-Founder

Debbie Boggs is a co-founder of Staging Studio, a RESA® and IAHSP accredited staging certification training provider, and the co-owner of BY Design Home Staging, a multimillion-dollar home staging company in San Antonio, TX. Staging Studio gives stagers the skills they need to launch & grow their home staging businesses. Staging Studio’s goal is to ensure that every stager has access to the best resources that will rocket their staging business to success. Debbie, and her best friend-turned-business-partner Julie Young, foster a supportive staging community with their free Facebook group, Staging Studio Society, and an award-winning staging blog full of the latest trends, news, and more from the staging industry. Together with other industry leaders, Debbie and Julie co-authored the Amazon #1 bestseller, Marketing for the Staging + Design Industry. Debbie and Julie have won numerous awards for their staging and training program, including RESA Real Estate Staging Industry’s Most Influential People; RESA Top Ten Luxury Vacant Staging Team of the Year RESA; RESA Top Ten Home Stager of the Year - Vacant; HSRA Top Five Staging Companies; Freshome Best Interior Designers; and Feedspot Top Home Staging Blogs for StagingStudio.com/blog. Staging Studio is built on the belief that the home staging industry should be open to anyone who loves home decor and has an entrepreneurial drive. That’s why they work to keep tuition low and donate 10% of all course fees. Those funds go to scholarships for Staging Studio students, to help them get the training they need to run a profitable business, and to nonprofits that benefit women and children.

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