With all the bank-owned homes on the market, many are just sitting there. Week after week, month after month they sit and they sit. No activity, no offers. Financial institutions have become landlords.
So what can they do to get these properties sold and off their books? How do they get out of the role of property manager? The answer really is simple. Have the property staged. It’s been proven that staged homes sell faster and for more money. And isn’t it in the bank’s best interest to get the highest selling price for the property?
Take a look at these 2009 statistics recently released by the Real Estate Staging Association:
87 Homes
Listed Un-Staged Not Sold Same homes Staged, Listed, SOLD
277 Average DOM 63 Average DOM 78% Less time on market
39 Homes
Listed Un-Staged Not Sold Same homes ed, Listed, SOLD 233 Average DOM 53 Average DOM
78% Less time on market
126 Vacant & Occupied Homes
Listed Un-Staged Not Sold Same homes Staged, Listed, SOLD 263 Average DOM 60 Average DOM 78% Less time on market
284 Vacant and Occupied Homes Staged Before They Went On The Market SOLD on average in 40.5 days.
Staged First, Listed and SOLD 167 Occupied Homes Not Previously on Market Sold on average in 39 days
117 Vacant Homes Not Previously on the Market Sold on Average in 42 days.
With numbers like these, how can bankers not afford to stage their REO’s? It is well worth the additional investment to get the property sold rather than continue playing landlord on empty houses.
ProStagedHomes Blog 