Home-Staging Related Metrics
7) Sales Results
For every property we style, we track whether it sells and what stage it was at when we collected the styling furniture. Did it have a contract? Was it unconditional? If not, was it sold in the weeks after that?
Why do we track this? Around 87% of properties we staged have sold by the 6-month mark. Mentioning this number in consultations with clients and new agents provides them with great comfort and reassurance that they have indeed made the right decision.
8) Average Duration of Furniture Hire
How long our styling furniture stays in each property is a great indicator for us to know how quickly we can turn furniture around. This is a measure of efficiency, and helps us to understand our return on assets. At the moment, approximately 50% of our properties are packed up before the 6-week mark.
When COVID initially hit the market, most businesses moved to an 8-week hire period on a temporary basis. We have decided to make this a permanent change, because we knew our numbers and realised doing this will not have a massive impact on our business. What it does, however, is it gives more comfort and security to our clients, making them more likely to choose us over another business offering 6-week hire.
9) Agent Stats
We track sales results of each agent we work with. From a business point of view, this indicates which relationships are delivering the most value to us. But more importantly, we’ve found that agents appreciate the stats we’re able to share with them about the impact staging has had on their listings.
10) Repeat Agents vs New Agents Ratio
This percentage shows how many jobs came from new agents vs returning agents we have worked with in the past. Knowing the ideal % is a bit tricky, as it’s “a bit of a balancing act”. We want new agents coming on board, because it means we are expanding our relationships and having more impact. But we also want agents to return and use our services regularly, because it proves that we are delivering value to them and their clients.
11) Inventory Management / Asset Payback & Efficiency