Forget art, flowers, and fresh paint.
Grand pianos are the #1 staging boost to resale value.
For more infromation and competitive piano rental rates please contact Cody Nyman at 905-829-2020
Sherry Templeton listed her house in Toronto for sale last July, after she and her husband decided it was time to upgrade to a larger home in West Toronto. She was 4 months pregnant with her third child, and John, her husband, had just received a promotion. The economy felt like it had turned the corner, and they were feeling optimistic. They cleaned, cleared, and called a home staging professional. The house was listed, and then they waited. And waited. And waited.
They got two offers, both of which were well below what they felt was fair for their area in Toronto, and reluctantly decided to take the house off the market. Without a fair price on their home, the upgrade just wasn’t going to be practical.
Then, a friend of theirs, themselves a home staging professional from Washington State, called to see how things were going, and Sherry dejectedly told her about the aborted home upgrade. The friend told them not to worry, and called one of her associates in the Toronto, and connected them with Sherry.
With some renewed hope, Sherry and John decided to re-list. The staging professional moved in all the usual compliments – some nice new pieces of art, a couple designer chairs, and repainted the front door. She also brought in a statue, and even had a water feature installed in the front hallway. And then she asked Sherry something that caught her a little off guard:
“Do you have any friends in the area that have a grand piano? You’ve got space in the living room, and its sort of been my secret weapon lately.”
Sherry thought for a moment. A grand? She didn’t have any friends that she could think of that had one, and why would a potential buyer even care? What if they didn’t even play piano? The staging professional chuckled a little. “Buyers see grand pianos and think: culture, class, and exclusivity. All things that any home seller absolutely wants a buyer to feel about the house. There really aren’t very many items that scream those qualities as clearly as a cute little baby grand in the corner. And since most house staging specialists aren’t using them, it also immediately sets your home apart.”
So the home staging professional and Sherry called a few local piano stores in Toronto, and arranged to rent one for a month, and soon they had it nicely placed right in the front bay window. Sherry did have to admit that it looked stunning.
They got a new set of photos snapped, and relisted the house for sale on the Toronto market. And this time, there were buyers, and offers. Not only were the offers higher, but they got 5 after the first weekend.
(Ironically, the presence of the grand in the front room was so powerful that the buyers actually made arrangements to purchase it from the store, so it could stay there.)
Sherry and John were ecstatic. They arranged a 120 day closing, and with a firm offer on their home in hand, went shopping for their next home, with all the room and amenities they’d need for their growing family.
So if this little trick worked so well, then why aren’t more people doing it?
It turns out, they are. A growing trend.
We spoke to Stu Harrison of Merriam Pianos in Toronto, one of North America’s largest piano operations, about just how common the practice is.
“Toronto’s a very active real-estate market it seems, and we frequently get calls on this. Not just from private home sellers, but even developers, real-estate agents, and staging specialists. Toronto home staging is very competitive, and there is a lot of pressure to come up with creative ways to showcase a home.”
“Just in the last year we’ve had multiple calls to get grands into model homes, new condo lobbies, high-rise development sales offices, home and design shows, and of course private homes. And from some of the largest names in the business – Vandyk, Royal Lepage, Remax, Sam McDadi, Tridell, … its a pretty long list. For Toronto home staging, it seems to be a huge selling feature.”
Even a quick Google search pulled up a Linkedin thread between several nationally-recognized staging companies, discussing ways to get grands into their homes. And just 4 weeks ago (Feb 2015), DIY Home Staging Tips, a blog for home sellers looking for tricks on staging homes in Toronto, posted a beautiful shot of a grand piano in a seller’s home, with a clear endorsement of the practice to its readers.
Finding a grand: how much, how tough?
A quick survey of major stores in the New York, Atlanta, and Boston areas reveals plenty of options. And depending on your situation, buying one isn’t entirely unreasonable either – several stores were offering full purchase options for less than $75 / bi-weekly.
Rental: $500 – $1000 / month, normally including delivery
Borrow: From a friend / church etc. Count on $100 – $200 for moving costs
Rent from staging company: rates vary greatly
Buy: $75 biweekly
Although its tricky to pinpoint exactly how much value this staging method adds to your home, no one we spoke to questioned that it vastly exceeded any minor costs to get it there. And even if an exact prediction isn’t possible, there doesn’t seem to be any doubt that it increases overall appeal, increases the number and the interest level of potential buyers, and increases the emotional connection with the home – a key point in making sure you get the price you want.
So, if you’re considering a home in Toronto this year, you may want to consider adding that unique touch of class that only a baby grand seems to give. Be careful though – they’re easy to fall in love with.
