This is a follow up post to the previous post #1 Question You Should Ask Your New Stager (special thanks to Carnival of Real Estate for the headlined mention!)
I have encountered stagers who have bonds but not insurance, which is really less than ideal in my opinion. Let’s look at what is bond first: (info courtesy of JW Surety Bonds)
What is a surety bond?
In the simplest terms, a surety bond is a guarantee. What the bond guarantees varies depending on the language of the bond. It is a form of credit, not insurance.
How do surety bonds work?
The principal (you) pays a percentage of the bond amount called a bond premium. In return, the surety extends “surety credit” to make the required guarantee (the bond). A claim can arise when the principal does not abide by the terms of the bond. In the event of a claim, the surety will investigate to ensure it is valid. If the claim is valid, the surety will look to the principal for payment of the claim and any associated legal fees.
What good is a bond if I have to pay for claims?
A bond is not insurance, it is a form of credit where the principal (you) are responsible to pay any claims. The alternative to a bond is to post cash or a letter of credit. Surety bonds are advantageous, as they typically require no collateral, which frees up capital. Bond premiums are also similar to fees for letters of credit and are typically less than one would earn making conservative investments with the available capital.
Note the repeated sentence “A bond is not insurance.” In the event that something is damaged at a client’s home because of the stager’s mistake, just because the stager has a bond does not mean the homeowner will receive compensations for the damage. Bond simply acts as a letter of credit for the principal, i.e. the stager in this case, it does not protect home sellers nor the owners for accidental damages.
In a follow up blog, I will feature an interview with an insurance agent on the subject matter. In the meanwhile, jot down your thoughts and 2 cents in the comments area below.
Cheers,
Cindy
(photo courtesy of 
Share your thoughts below at the comment section!
Is your listing out of date, out of trends and out of luck?
Wednesday, January 23rd, 2008I came across an article by Amy Chorew recently and she literally took the words out of my mouth. This is something every seller & agent should know (I took the liberty of highlighting the key points to look at by underlining the text):
What Do Consumers Want?
Every year NAR publishes its Profile of Today’s Homebuyer and Seller and one section focuses on the “Most Valuable Features of Web Sites†– items consumers demand when they are on your web site. Here is the breakdown:
NAR says that 96% of consumers start with a property search. If you don’t have a search button predominantly displayed, allowing the consumer to drive the experience they will search somewhere else. A consumer will stay on your web site for just a few seconds if they can’t find what they are looking for.
When they find listings, do you have the featured items above? If not the consumer will eliminate properties from their home search. If they do a search and half of the listings only have one photo, those listings are eliminated immediately.
Do you have more than 10 photos per listing? Even shoe web sites like Zappos has ten photos of shoes. Shouldn’t your listing client at least enjoy the same amount of photos that a pair of shoes does?
Staging is key with today’s photos. Martha Webb author of “Dress your House for Success†says “With all the emphasis on staging, it’s important to remember that preparing a home for market is a process that starts with the basics of cleaning and uncluttering. Clean, clutter-and-odor-free account for 35% of a buyer’s first impression. This can be accomplished in a few hours and at almost no cost. Next, a coat of paint will create a clean, fresh feeling for minimal cost. These simple steps show buyers your house has been well cared for, and that translates into value!â€
Just by uncluttering a listing will make your photos more appealing. You listings will have more staying power on the internet. Take time to revisit your listings and the photos. If your photos need help, consider hiring a professional. If you can, investigate a staging course like Certified Home Marketing Specialist and learn the dialog to help the consumer partner with you to make their home look the best it can in photos.
Twenty-four percent of homes sold last year were found directly on the Internet. That means after filtering through home after home the Internet consumer found the actual house they wanted to buy. They called or emailed you and you showed it to them, and SOLD it to them. The first showing for many buyers is happening on line.
New standards of performance are simple. Give the consumer what they want, photos, lots of them. Make sure they can reach you by email, phone or text messaging – in the time and way they require.
Technology can help streamline your communication process and your marketing efforts. Welcome to the new millennium.
Here is the link to the entire article: New Standards for Modern Real Estate Professionals.
When I first started blogging about real estate & staging, it was only a year ago, and about 80% of the buyers start their search first on the internet before they go to the open house. Now, it’s at 96%!!! If another agent tells me that internet presence doesn’t matter, I would think they are insane!
Like Amy said, staging can help to clean up the online presentation dramatically. Moreover, as stagers, we should constantly think what’s the best photographic angles while we stage.
I would love to hear about your thoughts on this article! Do so by commenting in the white blank box below.
Cheers,
Cindy
Posted in A Stager's Commentary, Agent Tips, Home Seller Advice, New things & trends, Real Estate | 2 Comments »