Statistics
A July 2005 study of 27 homes enhanced by RealtyEnhancements from mid 2002 to mid 2005 demonstrate the overwhelming, positive advantages of professional preparation of listings.
These 27 properties ranged from 870 to 9320 square feet and included condos, detached, and custom homes. They were located in nine communities of Ventura and North Los Angeles County. The average size of the listings was 2809 square feet.
Statistics on these listings were gathered from RealQuest and the Canejo Valley MLS data and each listing in the study is compared to same tract listings sold in the six months prior to each sale. The results:
- Enhanced homes sold 16 days or 30% faster.
- The enhanced homes earned $42 per square foot or 13% more.
For both the seller and realtor, the outcomes are a financial win-win. The gain for a 2500 sq ft home was $105,000 more for the enhanced home than the comparable same tract listing.
More detailed analysis of the homes enhanced was conducted separating the homes in 2 categories: less than 2400 square feet and over 2400 square feet. Seventeen homes in the study were less than 2400 square feet. The average cost to enhance each was $405. They sold 18% faster for 15% more dollars per square foot. The results confirm that enhancement is rewarding at all levels of homes, not just the high end properties.
The 10 homes that were over 2400 square feet sold 42% faster for a 10% higher price.
The homes in this study were enhanced using existing furnishings. Only plants and the occasional small accessory, such as candles were added. The emphasis was placed on furniture placement to highlight the homes positive architectural features, correcting architectural challenges, and visually increasing room size. None of the listings used rental furniture.
This study demonstrates value in the enhancement process as a marketing and sales tool.
All homes in this study were with Coldwell Banker Realtor, Andrea Jacobs, of the Promenade Office in Westlake Village California, who hired RealtyEnhancements' Wendy Dilda. Dilda and Jacobs recommend using a credentialed professional enhancer, one who will treat all clients with the respect and approach that you embrace. Both Jacobs and Dilda will happily furnish more details on the study if contacted.