Let’s say you’re a bank who’s foreclosed on Nicolas Cage’s Bel Air mansion and you want to unload it in one of the areas of the country hardest hit by the recession. Are you going to rely solely on provenance to sell the place at auction?
A) Not if you’re smart, and
B) Not if the interior is butt-ugly.
Staging sells homes, there’s just no way around it. Your objective when selling a home is to provide a backdrop for homebuyers’ fantasies–not their nightmares. I understand that banks think they’re not in the real estate business, but these days? Honey, you’re in it lock, stock, and barrel. Especially if you’re talking about a property once on the market for $35 million. No one wanted to even pony up a third of that asking price when it went on the auction block last week. It’s not hard to see why: