The early success of the staging program underscores the great need for these services.
Mark Koepsell, senior vice president, CORT

CORT is reporting early success from its national home staging services, launched in May of this year (see story). The first property staged through the program, which had been on the market about three months, sold in one week after being staged.

RTO Online definition: Staging - The placement of rental furniture and accessories, typically in an empty home, apartment or commercial property, to increase eye appeal and thus the likelihood of sale. is easyhome (TSE:EH), Canada's largest rent-to-own company, launched easydecor, the companies staging division, in 2007 (see story).

CORT, a Berkshire Hathaway company, launched the program to meet the growing demand for staging services from relocation management companies, real estate asset management companies, banks and corporations that own homes purchased on behalf of relocating employees. Staging uses the right mix of furniture and accessories to accentuate a property's best features, and differentiates a home from the many other vacant properties on the market.

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"The relocation industry is undergoing a paradigm shift in the face of unprecedented market conditions, including numbers of unsold homes on the market and the competition stemming from short sales and foreclosures. CORT continues to expand its relocation services to help our corporate partners meet the growing demand for rental services – both for furniture and relocation," said Mark Koepsell, senior vice president for CORT. "The early success of the staging program underscores the great need for these services, and we are confident that companies across the nation will soon experience the same benefits."

A company with a portfolio of unsold homes across the nation contacted CORT to stage a 1,000 square foot condominium in Arlington, Texas. CORT worked with the property's real estate agent and a professional stager from CORT's national network of pre-qualified staging partners. The stager determined the appropriate furniture and accessories, which CORT delivered and set up.

"I first worked with CORT 10 years ago when I rented furniture for the corporate apartment my husband and I lived in as we were building our second home, and I have continued to depend on CORT as a valuable resource in my work renovating homes and now as a home stager," said Denise Smith, President and Owner of Staged Just in Time. "Ultimately, my goal is to work more frequently with corporations, as they have a steady volume of homes that need staging. This property was my first referral from CORT specifically through the staging program, and the exposure to businesses has already benefitted my business."

The staging included a dining room, living room, kitchen, bedroom and home office for less than $3,000. An offer came in a week later. The entire process, beginning with the initial request from the customer, was completed in less than three weeks.

"This property needed a little updating, and staging the home was critical for adding some color and highlighting its positive features," said Ellen Bachtelor, real estate agent for Coldwell Banker Dallas-Fort Worth. "The feedback on this property greatly improved after being staged, and CORT has done a wonderful job of staying involved to ensure the entire process operated smoothly."

Staging can maintain or increase the selling price of a property in markets where home prices continue to fall and reduce the amount of time the property is on the market by up to 50 percent, according to the U.S. Department of Housing and Urban Development. CORT's own study of 7,800 staged homes finds staged homes sell in an average of 5.5 months, versus 10.4 months for those not staged. CORT, the only national furniture rental company with offices in the top 70 metropolitan US markets, offers the staging services throughout the nation.

"We are thrilled that CORT is reaching out to the professional staging community for assistance in their national staging program, and are confident that their business partners will soon realize the full potential of staging," said Shell Brodnax, president and CEO of the Real Estate Staging Association. "We are looking forward to hearing more success stories of CORT working with professional stagers on these projects."

Creating a positive first impression is critical to a sale. Most home buyers decide if they like a property in the first 10 seconds. For companies with large numbers of homes on the market, a faster sales cycle removes a burden on financial balance sheets. Waiting too long to take advantage of the benefits of staging is a common mistake. In many cases, companies wait until they drop the sales price in hopes of generating interest. The cost of staging is typically significantly less than the first price reduction.