Should I stage a small master bedroom in my flip?

Question

Hello BP'ers,

I've recently completed a flip property and have it on the market in Phoenix, Arizona.  I've been diligent about gathering feedback from agents after showings and potential buyers during open houses (I'm also a realtor).  An item that has come up several times is that the master bedroom is small.  The home is a 3/2 and not very large at 1300ft2 so none of the bedrooms are very big, but the master is the smallest bedroom.  It has a bath attached so it's considered the master.

Is it worth the time and expense to stage the master to show what else, besides a bed, the room might be able to hold?  If you were a homebuyer, would it matter to you?

Thanks in advance.

Mike Dmuchoski · Answer

Thanks, @Dick Rosen ,@Morry Eghbal , and @Alana M. I actually agree with all of your comments which is why it makes it tricky.  I have done some light staging in other rooms, e.g. living room, kitchen, bathrooms, to highlight other features (see pics).

Alana M. · Answer

It is always nice to be able to see what will fit....instead of assume it won't fit.  :)  Stage it with compact ikea type items.

Morry Eghbal · Answer

No don't stage the small room, it makes it look smaller. but try the dress up the kitchen area put some vine bottles some flowers in bathroom.

Mike Dmuchoski · Answer

Thanks!  I had a few more showings this weekend and serious interest from one of the groups.  I'll update everyone when I know more.

Happy holidays.

Morry Eghbal · Answer

Mike offer the $1,000 bonus on an acceptable offer.

Roy N. · Answer

Steve,

We had a 1950s bungalow where the master was 11' x 11'6" - the other two were 9x10.  We had a mission queen bed with night stands, a 6' dresser and a highboy in the master, but it was crowded.  When we staged it for sale, we replaced the bed with a double to make the room look bigger.

Mike Dmuchoski · Answer

Many thanks, @Morry Eghbal .  There is still room to negotiate but that is a hefty agent bonus!  I've actually already been offering a $1000 agent bonus upon close of escrow before the end of the year, as it was my goal to have it closed by then.  We're approaching the holiday slowdown so I'll reconsider my options after the new year.

I assume you are deeming what is "acceptable" with your strategy?  Have you had a positive response from this approach?  Seems like there is a lot of subjectivity in there.

Morry Eghbal · Answer

Mike thank you for taking the time to post the information.

Here is your problem and here is my suggestion.

Your price should have been at $245K but there is some justification for the first class rehab.

I looked at zillow.

This is not a track home, the area is very mixed as I looked on Zillow you have small  apartments on the left and on the right and you are trying to capture the very top of the market.

This is what you have going for you, Your first class rehab.

Do you have any room for negotiation?

Here is what I would do to get attention from Realtors with what you have for negotiation as a bonus.

I would offer 3% commission which I am sure you already have done it. Plus 3% (or what you wish) bonus on an acceptable offer. Notice I said acceptable offer. That means if the offer is lower you can adjust it from the bonus.

If you do this, do not put the bonus on the remark section of your MLS put it on Agent's remarks so the buyers will not see it.

You have done all you can, tell me what you think?

Mike Dmuchoski · Answer

Thanks and appreciate it, @Morry Eghbal .  Asking price has been reduced to $245k after about 50 days on market.  It's a trendier section of Phoenix where the highest returns come from trendier finishes.  "Beige and khaki" remodels don't always fair as well.  I've included a few comps below.  These are only the closed - there are a few pending and active listings as well.  Let me know if you'd like more info.

Mike Dmuchoski · Answer

@Steve Babiak That would've been a costly change to the existing layout and unfortunately wasn't in the budget.  From memory, the bedroom is roughly 10'x10'.  It would fit a king bed but uncomfortably.  A queen bed would fit nicely with some side tables, and the closet is big enough (has large sliding doors) to store a dresser.  Note the largest bedroom is approx 12'x10' so none of them are huge!

Should I stage a small master bedroom in my flip?

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