Faced with a Staging Problem?

Part 2: Time is Money….How to Pre-Qualify Clients

In order to save time and frustration on your part, it is essential that you qualify potential clients upfront.  If you are not on the same page with regard to expectations and ability and willingness to pay for services, you’ll lose valuable time that could have been spent with choice clients - those that understand the value of the services you provide and who can afford you.

It is quite common for agents and sellers to call and ask for a ‘ballpark’ figure with regard to furnishing a vacant property.  They have no idea if furnishing a home will cost $50.00, $500.00 or $5,000.00 per month, so be prepared to handle such inquiries.  The more adept you are at educating them upfront, the more you will be perceived as an expert in the staging arena.

It is a very good idea to give the agent or seller a ‘per-room’ cost estimate in order to better determine if staging the vacant property is within their budget.  More importantly, it saves you time because you may not have to visit the property and work up a bid proposal if the amount of the lease is not financially within their means.

Before investing any of your time and effort, qualify the client by asking:

• What their monthly budget is for renting furnishings
• How long of a rental commitment are they willing to make
• If there are any ‘problem’ areas to be taken into consideration
• Ask if there is a virtual tour or marketing photos online that you can view in order to get a better idea of the scope of the project

Provide the agent or seller with a price range before you commit to visiting the property.  This will save you time and frustration.

Sample of a Per-Room Monthly Furnishings Rental Estimate*:

Living Room/Family Room    $300.00-$600.00
Master Bedroom    $150.00-$350.00
Dining Room    $150.00-$300.00
Kitchen & Eating Area    $75.00-$200.00
Master Bathroom    $50.00-$100.00

* Even though a price range is given, the final figure will be determined by the quality and quantity of furnishings, the extent of the staging (how many rooms/areas are being furnished) and the rental pricing in your geographic area.

In Addition to the Monthly Furnishing Lease, Don’t Forget to Address:

• Delivery (round trip)
• Insurance
• Minimum lease period
• Staging Fees ( including assistants)
• Shopping for and choosing furnishings
• Coordinating the delivery of rental furniture
• Meeting and directing the movers
• Any research time spent on behalf of the clients

Remember… your time is money!

It’s a good idea to research rental costs in your area and to keep a ‘cheat sheet’ of per- room furnishing costs with you at all times in order to quickly and adeptly answer inquiry calls when away from your office.
The Next Step

If after addressing fees, time-frames and the overall staging process, the sellers request a formal bid proposal, you’ll need to visit the property for an on-site assessment.

Don’t forget to take the following:

• your client file with directions to the property
• measuring tape
• notepad and pen
• camera
• cell phone
• calendar

Make certain to charge for your time to visit the property, any research time and the time it takes preparing the bid proposal.  You can apply the entire fee or a portion of it towards the staging project fee once you are officially hired.

© 2009 The StagingTutor.com Blog.