[THE EDIT] My Q1 Staging Industry Insights

Can you believe it's April already?! Where is the time going ?!

Honestly, I've blinked and my son, Cash is 1 year old next month 🤯 When they say they grow up fast, they weren't joking.

Now we're entering Q2, this is a great time for reflecting on the previous 3 months. I always take some time out to look back on the previous quarter.

I took some BIG swings at the start of the year, I invested in two different masterminds (investing over $50,000) - I'm gonna detail this in a podcast really soon.

The big swings are paying off, and we're taking all out massive action. I'm not EXACTLY where I want to be but that's ok, we have another 9 months to capitalise on the momentum we've built so far this year.

So that is the question to ask yourself: are you where you want to be in April?

If the answer is yes - ask yourself how are you going to capitalise on the momentum?

If the answer is no - what are you going to do to ensure that by the end of Q2 you've achieved your goals?

Those big swings, and the things you've been putting off are usually the answer 😉

In my Q1 review, I also thought it would be fun to share with you my insights on what I seen inside my staging business in the first 3 months of 2024...

AND how we can adapt moving forward in Q2 for maximum success...

Let's make 2024 our biggest year yet!

Liv

1. An Increase in Demand For Staging for Sale Services

What we have noticed?

There was a significant increase in Staging for Sale services compared to other Q1 periods.

Why?

Properties are taking longer to sell due to the market and sellers are recognising that they need an edge to ensure their property sells quickly (and for the most money possible).

What to do?

If you currently offer this service, spotlight it across your marketing. You may also use this as an opportunity to purchase more kits (see point 2)
If you don’t currently offer this service, create an introductory attractive offer to enter the market, and start staging your first properties for sale

2. Many Staging for Sale Clients Opting for Rental Extensions

What we have noticed?

Clients are opting to extend their furniture rental agreements.

Why?

In response to properties lingering on the market for extended periods, clients are recognising that if they'd like to sell, they'll need to keep the staging in situ for longer than just an initial marketing phase.

What to do?

Create rental extensions packages, offer a 4 week extension or a discount on a longer period of time (eg. 12 weeks for the price of 8)
Consider offering a bespoke package upfront of a longer period (see insight 4)

3. Potential Clients Are Negotiating on Price

What we have noticed?

Potential clients are negotiating on price more than previously before.

Why?

Money is tighter on all projects due to rising costs of materials, interest rates etc, however, sellers are realising that staging is a necessity in today's market and are looking for the best price possible.

What to do?

Price your services conservatively with a margin to discount built in.
If you don’t want to discount financially, offer a longer rental period for the same price instead.

4. Clients Asking Upfront for Longer Rental Period

What we have noticed?

Clients asking upfront for longer rental periods than the standard 6 weeks.

Why?

Firstly, they're realising that realistically their property may take longer to sell than before. By agreeing a longer period upfront, it removes hassle of renegotiating rental agreements frequently & will save them money longer term.

What to do?

Create a bespoke package that offers a pay-in-full discount or a payment plan spread across their rental

5. Clients Asking Upfront for a Price to Purchase the Furniture

What we have noticed?

Clients asking for a price for both purchase AND rental of the staging kit.

Why?

Due to the uncertainty of the market, clients are interested in a more cost effective way to stage and wonder if it may purchasing rather than rental. They're also considering if offering the furniture as part of the house sale may give them the edge (especially true in the 1st time buyer market).

What to do?

Offer your client 2 payment options (Buy outright upfront & a 6 week rental with the option to buy at later date)

6. Savvier Buyers (Especially in the SA/HMO Industry)

What we have noticed?

Clients asking for much more in-depth quotes & an itemised list in the SA/HMO arena.

Why?

We are in an era of savvier buyers in all industries & people want to ensure that they are getting value for money. Also for some, budgets are tighter & they are more careful where and how they spend their money.

What to do?

Be crystal clear in your communication, offering & quote, list all items that will be included (not necessarily itemised).

7. Potential Clients "Shopping Around"

What we have noticed?

Clients shopping around and price comparing, asking you to match other companies pricing.

Why?

Budget are tighter on most projects & there is a selection of companies to work with.

What to do?

Stand in your power & be confident in your offering & the value you provide.
If you’d like to delve deeper, build a premium brand that clients are bought into - if this is how they feel, they won’t shop the market.

Considering these insights, what could you implement in your business today to give you the edge? I expect to see more of the same as we enter Q2 ⚡️

Tell me! Was there any trends you noticed in Q1 that aren't on my list?

Also, when you're ready, here are four ways that we can help you:

1) Listen to 'The StagerBoss Podcast' or 'StagerBoss Youtube Channel'
Every week there's a new discussion on all things home staging, business growth strategies, marketing & mindset. Listen to the podcast or watch our Youtube channel here.

2) Hang out in The Facebook Group
Join the conversation, join us for free weekly LIVE trainings and interviews with over 10,000 other women in the staging industry. Come hang with us here.

3) Watch our 5-Part FREE Mini Course
Want to check out if a home staging business is for you and learn how you can replace your income in the next 3 months? Access the mini course here

4) Join Staging Business Secrets
Ready to LAUNCH your staging business and secure your first client in the next 12 weeks? Book a call with our team to discuss joining our signature 12-week online course and coaching programme. Book your call NOW.