How We Turned $15,470 into $77,100 - A Case Study
When approached by Real Estate Agent Mel Evans to help her sellers get their home ready for market, we jumped on the opportunity. This wasn’t just a regular staging or consultation, the homeowners were moving across the province and didn’t have time to deal with all the updates that needed to happen in the home before market. Mel understood the impact that making these few updates would have and approached us to see if we’d be interested in taking on managing getting all of the work done. Our answer was of course, YES! This was the start of our new Market Ready Prep Service.
With our Market Ready Prep Service, we project manage getting all that work done for you!
See how we turned a $15,470 investment into $77,100!
REAL LIFE CASE STUDY - HALIFAX HOME
This was the home when we showed up on the consultation day.
As you can see, it needed a bit of love. The bones of the home were great, it was just stuck in the 90s, and we wanted to bring it to it’s mid-century modern glory. So that’s exactly what we did.
We changed out the carpet to a laminate to match the flooring in the hallway, we removed the existing furniture and brought in our staging furniture, with a mid-century modern style, to finish it off.
Next we headed to the dining room, again the floors were old carpet from years gone by, so it was time to change it up. Although carpet is making a comeback, it’s definitely not coming back to dining rooms! The light fixture was also giving 80s/90s vibes, so we opted for a sputnik style fixture to again tie in with the mid-century style of the home.
You can see the difference that all of this makes, paired with some new staging.
The kitchen luckily had been recently renovated, so no updates needed there. So we headed upstairs next. In the hallway, housed a small little office nook that was painted in a teal color and felt very dark. We wanted to brighten it up and make it feel like a more appealing place to get your paperwork done.
So we decluttered the space, painted it a nice neutral light color, replaced the track lighting, and added in some nice staging. I know which one I would rather work in!
Next was this super red bedroom, definitely hard on the eyes, and hard to cover with paint! If you have a bright red or orange room in your home while you’re selling, always paint it before putting it on the market, those colors throw off many buyers.
All we really needed to do in this room was depersonalize, neutralize the walls and stage.
Finally we did a small update on the main bathroom, again it was painted dark and felt dated. All it took was a couple coats of light paint, changing cabinet hardware and some light staging.
Now, if you’ve made it this far, I’m sure you’re wondering how we made $77,100 from just $15,470. Here’s how we did it:
Investment Cost:
Initial Consult: $250
Project Management (Our Market Ready Prep Service Fee): $1,000
Light Fixtures: $520
Electrician: $950
Flooring: $7,900
Paint: $2,000
Staging Fee: $2,850
Total Investment: $15,470
The home was then listed for $699,900 (which was a higher list price than it would’ve been had we not done anything)
It was on the market for 4 days with multiple offers, and they accepted an offer of $777,000!!
That’s $77,100 over ask!
That’s a ROI of 398%!!
Again, not included in this scenario is the fact that the home would’ve been listed at a lower price had we not done anything and sold as is. It pays to invest in those key items that have a big impact on buyers perspective and emotions.
Buyers are not looking to come in and do all the work, many are spending at the top of their budget to just get the home, they don’t have that spare cash to then do those updates. So if you make it easy for potential buyers to just move right in and have that updated home, you are putting yourself in a great position to get multiple offers and receive that huge ROI!
If you or your client are interested in this service and taking advantage of big ROIs, reach out to us to book your initial consultation!
