Entrepreneurs who are looking to create a successful business in home staging need to have some additional elements to bring life to their running business that they’ve always imagined. There are some common misconceptions as to what it takes to become a successful home stager , and what resources are available to you.
Whether it is a hobby or you’ve had some considerable thoughts about opening your own staging business there are some top five truths that you need to know in order to do what you love and love what you do.
Many entrepreneurs say that they are willing to work as much as it takes in order to avoid working 40 hours a week, however, entrepreneurs especially those in home staging who can set up an efficient system for themselves don’t have to suffer the same fate of working around the clock.
Like any business, running and operating a home staging business will require you to know what to expect in order for you to be able to ‘blossom your business’. Today, we’re going to go through some of the key factors required in understanding how you can launch your home staging business.
Although we are not going to discredit the large contribution of passion in operating a home staging business, we are also not going to ignore some of the other business elements that are needed to add in the mix of passion.
Successful home stagers need to not only have an understanding on how to stage homes but also an understanding on how to run the business . After all, you can’t really showcase your skills of home staging if you have no clients to stage homes for.
Pretty understandable, right?
Home stagers need to understand:
Who the target clientele is,
How they should be constructing their contracts , and
How they can market themselves to their local area,
So that their business can become discovered.
Let’s start with the first key element , which is ‘understanding your target clientele’.
A home stagers’ key clientele can fall into three different categories, this includes:
Real estate agents,
Home sellers, and
Real estate developers
The narrative that you use in your marketing strategy will be different depending on the clientele that you are trying to attract. For example, your value proposition to a real estate agent will slightly differ than the value proposition you are displaying to home sellers.
Let’s go through the first clientele, which is real estate agents.
Real Estate Agents
Narrowing down the right real estate agent to work with, will help you achieve your business objectives and make you become efficient with your strategies.
For example, some real estate agents only focus on working with buyers, while other real estate agents solely focus on selling homes.
You need to be able to identify the niche markets of agents that suits your business, and place more effort on agents that you can add value to. One place to start is, by making a list of all the different brokerages that are within your immediate area, placing the focus of your business to become the local leader of home staging.
Once you’ve created this list of different brokerages, you may want to target managers or the broker owners, to be able to position your services for the agents who work out of those particular offices. The way to be able to position yourself is to include a one-pager worth of stats that agents can relay back to their home sellers as to why staging would play an integral part in getting the home sold faster and for more money.
These type of stats include information such as:
Homes that are staged, on average spend 3 weeks less time on the market
Home staging provides a 360% return on investment (ROI)
Almost 92% of all buyers begin their search online, making a well-staged home look more appealing through pictures online
These type of stats are useful for agents to be able to put into perspective for their clients to understand the contribution home staging can make to a more fruitful sale of the home.
This also works hand in hand what the real estate agent is doing to be able to strengthen their value propositions as to what they can offer in their marketing campaign to get their client’s home sold for more money.
To make it more economical, you can create this one pager to send out as an email blast, provided the manager or the broker owner of the real estate office sends this for you, or it can even be used in your online marketing campaign targeting real estate agents.
Regardless of what you do, it’s important to be able to clearly display your value propositions and how they will ultimately benefit the home seller, utilizing agents to act as a messenger on your behalf with regards to home staging. Once you develop a relationship with agents , you will then be able to harvest more business that take place in the future with the same real estate agent, or even receive referrals too to build your referral business , to expand your business.
Keep an eye out of the Part 2 of this series in which we will also focus on the other key clientele, which include home sellers and real estate developers.