STAGING: KNOW THE FACTS.
In a 2021 Seller's Market Survey conducted by R.E.S.A. (Real Estate Staging Association) of 4,600 Homes:
73% of the STAGED homes sold OVER list price.
On average, the staged homes when compared to comparable vacant or non-staged homes, sold 9 or more days FASTER.
The STAGED homes sold, on average, $40,000 OR MORE over list price!
The average staging investment of 1.3% of List Price yielded a 7.1% OVER-LIST return on investment- incredible!
SOLD $100,500 OVER List Price in 4 Days!
STAGING: It's an investment; not an expense.
TOP 6 REASONS WHY YOU SHOULD STAGE IN A SELLER'S MARKET:
With the current blazing hot real estate market, many real estate agents may be less interested in staging their listings; this makes sense. The home staging industry was built on statistics like “staged homes sell 88% faster.”
This statistic by itself was compelling when the average home took a few weeks or months to sell. However, in a seller’s market, the expectation is that a listing will go under contract the first weekend, so even 88% faster is not that big of a deal. Bottom line- houses are spending far fewer days on the market, even without staging. But staging is not just about getting a home sold quickly.
CREATING AN EMOTIONAL CONNECTION
Home staging creates an emotional connection for the buyer, and that IS critical. Falling in love with the home is especially important in a seller’s market in order to make the highest possible profit on every listing. Let us explain: every home is someone's dream home, and staging minimizes any perceived negatives and maximizes the perceived positives.
A 2021 National Association of Realtors (N.A.R.) study on home staging reported that 82% of buyers’ agents said staging a home made it easier for a buyer to visualize the property as a future home.
Increasing the perceived value of the home while creating an emotional connection for buyers will not only set your listing apart from the other homes on the market, but will yield higher offers.
AVOID COMMITMENT ISSUES
Staged listings are more likely to make it through the inspection and appraisal process. The main reason being that staging helps the buyer avoid commitment issues. Let us explain:
In a hot seller’s market, homes are going under contract quickly, but we are seeing more of those contracts fall through. Buyers felt pressure to jump on something, even if it meant they had to compromise some of their wishlist. When they are not totally in love and committed to the home, they are more likely to back out.
The inspection or appraisal reports come back with a previously unknown plumbing issue. Not a big deal if the buyer loves the home and has already pictured hosting Thanksgiving there and soaking in that tub. When there is an emotional connection to the home (that only staging can make), buyers are much less likely to back out of the deal or ask for concessions and repairs; they are committed.
Over a quarter of buyers are more willing to overlook property faults if a home is staged, according to the N.A.R. 2021 Profile of Home Staging.
GENERATE THE HIGHEST ROI
Staging helps buyers overlook needed repairs.
Staging puts less weight on minor renovations that need to be made and helps the home feel as new as possible so there are fewer objections. Certified Staging Design Professionals know the most cost-effective updates to get you the highest return on investment for your home.
MORE VIEWS = MORE BUYERS
MLS photos of staged homes get more views.
Even in a hot market, buyers will still determine if they want to see a house from the photos. Almost all (99%) millennial homebuyers start their search online, according to N.A.R.
Visual cues are persuasive for home buyers. The quality of your online images can directly determine a buying decision. Your first impression is your last impression, so make it count!
Once you’ve peaked buyers’ interest from your online presence, seeing the home staged in real life is sure to seal the deal.
Staging makes homes look bigger.
It may seem counterintuitive, but vacant homes actually feel smaller than homes that are fully furnished. Staging Design Professionals will bring in furniture and accessories that are to scale with the room. This will give the buyers the impression that the space is actually larger than it is.
AVOID PRICE REDUCTIONS
Home staging statistics show it is an amazing investment!
According to RESA, with an average investment of 1% of the sale price into staging, approx. 75% of sellers saw an ROI of 5-15% over asking price.
For example, your home is listed for $1,000,000.
1% staging investment = $10,000 staging investment
Sold for 5-15% over asking = $50,000-$150,000 over asking, less the initial investment of $10,000 and you have a
400%-1,400% return on the STAGING investment!!
Consider this: the average price reduction was 5 to 20 times more than what the staging investment would have been.
NEW STAGING REQUEST
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BRINGING IT HOME FOR YOU
Did you know?
A 2021 survey by the National Association of Realtors found that 83% of Buyers stated that a Staged home was easier to visualize as their future home.
Did you know?
In a 2021 survey of 13,000 staged homes, 85% of them sold for 7-23% OVER LIST PRICE!
Did you know?
With an average investment of 1% of list price for staging, approximately 75% of Sellers see an ROI of 5-15% over asking price.
Did you know?
In a 2021 survey by the National Association of Realtors, it was reported that vacant homes benefit the most by home staging. To be precise, staged vacant homes spend an average of 73% less time on the market than their non-staged counterparts!