Richard was recently interviewed for Toronto Star about home staging of luxury real estate. Read about his opinion here and don’t forget to check out the full article for more information:
“You really are creating a stage because you want people to be able to walk in and feel that they are living that dream,” Warrington says. “When I take a house that really isn’t a luxury house, you’re demonstrating the possibilities.”
It’s a strategy that works for her, she says, noting she’s sold $25 million worth of real estate this year. Warrington says she makes up for the staging costs, as it helps her sell houses well above their asking price. That semi-detached home with the baby room, for example, was listed for $899,000 and sold for more than $1.2 million, she says.
Realtor Richard Silver says agrees a staged home will sell for higher than the same home left empty. Whatever sellers spend on staging can be made up by three or four times in the final offers. Plus the home sells faster, he adds.
“We’re living in HGTV syndrome,” he says.
Still, he warns that staging can also mask potential problems. A too-narrow room can be styled and photographed to appear spacious, and it could be too late by the time you realize a king bed and end tables don’t fit.
Warrington highlighted a long-term family home she once sold in midtown that she staged from top to bottom. It got 14 offers, but “really, it needed a complete renovation.”
“I think buyers have to be very careful sometimes,” Silver adds.
“What they see is a better product.”