One of the top reasons for not making enough money in home staging is not charging enough. Here are 3 tips to help you establish your home staging fees:
1. Consider all the time you don’t get paid for.
For example, preparing for a client appointment, answering potential clients’ questions in advance, scheduling and re-scheduling appointments, travel time, follow up calls (before, during and after the project), keeping track of client expenses and time on each project, bookkeeping, standing in line at the bank, etc.
If you think $100 or even $250 per hour is too much to charge a client, remember the many hours you put into your business that no one pays for.
2. Consider what tangible benefit you bring to your home staging clients.
Do you believe you provide real value to your clients? If you don’t believe this, it will be very difficult to convince them. It might help to think about how much financial value you can bring to a client if you do the job well.
Don’t fall into the trap of feeling embarrassed about your rates. Done well, a home staging project should generate anywhere from $10,000 to $50,000 profit for the homeowner.
So, why shouldn’t a professional home stager be paid well?
This house sold for $71,000 over asking.
The client invested about $900 in my advice during a home staging consultation. Someone could easily say, “wow, $900 just for advice, that’s a lot of money!” But if you asked, “what if you could invest $900 and make $71,000?”, few people would consider that too expensive.
Home Staging is an investment in a potentially significant financial return for the client. Consider this when determining your rates.
3. Remember that when you’re in a service business you are selling your time.
You have limited “inventory” so make sure you’re not always “on sale!” Since you can’t manufacture more hours in a week, the only way to earn more is to charge more for your time.
The Staging Diva course “The Business of Home Staging: What you need to start and how to grow” includes a detailed discussion of pricing strategy.
If you’ve already taken the course, now is a great time to review your notes so you make sure you earn what you’re worth this fall real estate season. If you haven’t taken course 2, you can order a recording of it right now for only $179. You’ll make that back easily on your first client because I share with you everything I’ve learned about pricing based on my MBA training and the real world experience of being an independent entrepreneur since 1989.
I have also built a lucrative home staging business from scratch in a very competitive market.
In Staging Diva course 2, you’ll learn what I charged clients three years ago and how I systematically increased my rates over time. I’ll share the single biggest discovery I made in how to best price home staging services for profit.
You’ll also learn what home stagers charge all over North America and how not to make the same mistakes they are!
Discover the ONLY Home Staging Business Training Program taught by a seasoned entrepreneur who has successfully grown her own home staging business (not as a side-line to selling real estate) — The Staging Diva Training Program. With an MBA in marketing and hundreds of home staging clients, internationally recognized home staging expert Debra Gould, The Staging Diva, is uniquely qualified to train others how to start and grow a profitable home staging business.
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