Financial Insights
The average Canadian home stager earns about $39,000 per year. Income varies by location, with the national average being $53,556. In 2022, 22% of Canadian and US homes sold were professionally staged, selling for 15-20% over the list price. Staged homes in Canada sell up to 11 times faster. Staging costs, but generally results in homes selling for more, with some homes selling for 3% over the anticipated price. When considering staging, one should take into account rental and purchase costs of furniture and decorations.
Staging showcases homes through the use of quality furniture, often sourced from Toronto companies, and the staging time and extra furniture determine costs. Toronto staging costs range from $500 to $5,500, which is about 1-3% of the list price.
Industry Overview
Home staging businesses can be profitable with proper planning and hard work. These businesses make money by charging for services, including an initial consultation and subsequent hourly advice. They can thrive in both strong and weak real estate markets, notably with the growing demand for staging. The ease of marketing these services comes through networking with real estate agents, mortgage brokers, and others in the industry.
With 38 percent of sellers’ agents staging homes before listing, there’s a continuous need for stagers. In-house stagers or those with their own businesses require a portfolio, training, and experience. To grow in this industry, financial strategies, portfolio developments, and marketing efforts must intertwine.
Key Considerations for Home Stagers
Home stagers must consider the financial aspects and the strategies to attract quality clients and justify higher fees. Certification, endorsements, and being bonded play crucial roles in establishing trust and credibility in this field. Home staging not only hastens property sales but also helps homes sell closer to their asking price, providing a more streamlined and less stressful process for sellers.