Why Staging Matters, Even in a Seller's Market
Although we're experiencing a seller's market and most homes going under agreement within days of being listed, realtors still can't promise their sellers that their specific property will stand out among competitors or receiving a bidding war! This is where staging comes into place. Sellers need to appeal to a buyers' emotions, making them fall in love with the space.
So, how does staging do this?
Staging Helps Buyers Emotionally Connect with a Property. Staging gets a home move-in ready, letting the buyer envision themselves and their family living there. By updating the decor to be on-trend, offering an inviting style that appeals to a wide range of buyer personalities and creating function for each and every space, makes for a memorable impression. Once engaged, a buyer will be more likely to make and/or increase their offer, without changing their minds or backing out. According to the National Association of REALTORS 2021 Profile of Home Staging, 82% of buyers' agents said staging helped their clients envision living in the property / making it their home.
Staging Increases the Perceived Value of a Home. Staging draws attention away from any negatives in a space while accentuating the positives. By decluttering and depersonalizing, adding neutral colors, brightening up the space and letting natural light in, removing any dated furniture or decor, and covering any distractions or flaws, helps the home's unique features shine and increases the perceived value. According to the NAR's 2021 Profile of Home Staging, more than 25% of buyers are willing to overlook property faults if a home is staged.
Staging Helps Buyers Visualize a Vacant Home. Having a big or small empty space will not get the same attention and one with trendy, engaging furnishing and decor. It instantly helps buyers picture themselves living in the space. It also helps to provide function to larger spaces, and enlarge smaller spaces.
Staging Allows for Quality / Professional Photographs. Online photos are typically a buyers first impression of the property. Nearly 99% of home buyers start their search online. Even in a hot market, staging a photo-ready property will have a direct influence on a buyer's decision on whether or not they decide to go see the home in person or not.
Investing in professional home staging will help you maximize the rate of return on the sale of your home, and almost always costs less than the first price reduction for homes that end up sitting on the market. A recent study by the International Association of Home Staging Professionals shows that staging helps home sell 3- 30 times faster than non-staged homes, and can increase the sale price by up to 20% on average. For sellers who decided not to stage, this same survey shows that the average price reduction was 5-20 times more than what the staging investment would have cost.
For home staging questions or a free consultation, please contact us!