Maximizing Profits: A Case Study in Real Estate Success
The real estate journey from listing to closing can be a rollercoaster ride, especially when it comes to presenting a property in its best light. Often times you only have a few seconds to make a great first impression and that’s why seasoned Realtor, Susann Rhoades, from RE/MAX Suburban, referred Chicagoland Home Staging to her clients. In order to maximize profits for the sellers, she knew what the power of strategic updates and home staging could do for this property considered “a diamond in the ruff.”
The Dilemma
The property in question, a charming ranch-style brick home on 13th Place in Lombard, boasted timeless appeal but was in need of a modern refresh. As you can see in the before photo above some colors and finishes felt outdated according to what most buyers look for today, while the hardwood floors showed signs of wear. Plus, the kitchen had darker cabinets and tile that was overdue for a replacement. Compounding these issues was the lack of furnishings in the property, leaving the open floor plan feeling ambiguous to potential buyers.
The Solution
Presented with two options by the Realtor®, the seller faced a critical decision. They could list the property as-is, which would likely result in a swift sale given the area’s limited inventory, but at a lower price point. Or the sellers could invest some money into updates, repairs, and staging to elevate the property’s appeal and command a higher listing price.
Opting for a bigger return on their investment, the seller embarked on a journey to transform their home into a turnkey masterpiece. With our staging team’s recommendations neutral tones were applied to walls and kitchen cabinets, breathing new life into the space. Outdated tile was replaced to match the hardwood floors, which also received a rejuvenating refinishing treatment. To complete the transformation, our team put together a customized home staging plan for the property, creating an inviting atmosphere that resonated with potential buyers.
The Impact
The results spoke volumes. What started as an estimated home value of $612,000 was transformed through a $19,000 investment in updates, repairs, and staging. The majority of the investment went into refinishing the floors and painting the cabinets, crucial elements in modernizing the space.
Within just two days of listing, the property garnered an impressive 13 offers, ultimately closing 30 days later for $682,500. That’s over $50,000 more than initially expected in profits!
The Lesson
By choosing to collaborate with Susann Rhoades and our team, the seller unlocked the true potential of their property. Through strategic updates and staging, they not only maximized their profits but also transformed their home into a desirable, turnkey residence that captured the hearts of buyers.
Every home is unique, and our approach at Chicagoland Home Staging reflects this understanding. We work closely with sellers to tailor our recommendations to their goals, ensuring that each property stands out in today’s competitive market.
This case study proves that having a skilled team behind you can make all the difference in creating win-win situations for your clients. Let us help you maximize your profits, contact us today, to achieve your real estate goals with confidence.
