Up-Stage the Competition
Selling a home can be an expensive process, and it’s awfully tempting to cut corners in an effort to save a few dollars here and there. One seemingly simple way to do that is skip staging and either leave the home empty or filled with your stuff. But what kind of impression does that make on potential buyers?
In a market as crazy as ours, many sellers are under the misconception that a home doesn’t need much preparation at all in order for it to fly off the market after listing. Here’s the problem: competition amongst buyers is great for sellers, but there are so many strong buyers right now who are willing to pay for a great home that lackluster listings are overlooked until something better comes along. If you want your home to get a second look, then it better be looking good; that’s where staging comes in. Still not convinced? These staging statistics will make you reconsider.
- Consider your ROI: Staging your home may cost a pretty penny up front, but statistics show that chances of getting a positive return on your investment are too good not to take. According to professionalstaging.com, buyers are willing to pay up to 5% more on a staged home than its competition. Not only that, but buyers are more likely to be able to visualize themselves living in your home when it’s staged well, and in order to get 5% more than your competition you need to get an offer first!
- Focus Your Funds: Creating a pleasant, cohesive atmosphere throughout your home is essential for a good first impression on buyers, but that doesn’t mean you have to pay to stage every piece of every room. The National Association of Realtors released a study about the effects of staging on prospective buyers, and three rooms in particular had the greatest positive impact: the presentation of the living room was most important to 55% of buyers, followed by the master bedroom at 51%, and ending with the kitchen at 41%.
- Time Is Money: You may not be in a rush to sell your home, but regardless of your timeline you’re probably still interested in selling it for the best price possible. The reality is that homes that sell faster also sell for more money, and based on a 2016 report by the Real Estate Staging Association properties that are staged before they hit the market sell 90% faster than other listings. When you consider that listings that sit on the market for two months sell at an average of 5% below their original list price, it sure makes the cost of staging pale in comparison to losing 5% of your home’s value!