Home Staging: What’s The Big Deal?
In an extensive study of 1,080 Homes by RESA (the Real Estate Staging Association), the data showed un-staged homes spent an average of 184 DOM (Days on Market)before staging. After staging, these homes sold on average in 41 days. Homes that were staged prior to going on the market sold on average in 23 days.
In all, homes that were staged first spent 90% less time on the market.
According to the 2017 report on Home Staging by the NAR (National Association of Realtors), Staging a home will increase the Property’s value by 1-10%. Homes that are staged before listing sell an average of faster than homes that are not, according to RESA.
Your home Staged means lower Days on the Market (DOM). Lower DOM means a higher Sales Price.
We’ve all noticed the home down the street that has had the “For Sale” sign in the yard for 6 months. Every time you pass it you wonder what’s wrong with it, why it hasn’t sold. We wonder, ‘is it poor marketing, overpriced, or just hideous inside?’. Whatever the case, most buyers will agree that the longer a home sits on the market, the less appealing it appears.
Vacant or occupied, no one wants their home sitting on the market for months on end. Vacant homes rack up unnecessary mortgage payments, while occupied homes bring the stress of keeping the home in show condition.
Bottom Line: every week your home sits on the market, it becomes less desirable. The Data clearly shows that having your home Staged before listing means more dollars in your bank account. Keep those DOM at bare minimum with great Staging followed up with Pro Marketing. Learn about our Marketing Plan here.
The NAR 2017 Home Staging Report found that a whopping 77% of Buyers reported that it was easier to visualize themselves living in a home when it had been professionally staged.
According to numerous reports from Top Staging Companies collected by HouseHunt.com, only 1 out of 10 Buyers can visualize beyond what is in front of them, when touring a home.
That means the vast majority, 90%, of Buyers need a clean, put together home to be able to connect.
During a showing, it’s imperative that a buyer is able to imagine themselves living in your home. This is one of the reasons Stagers and Experienced Realtors will ask you to remove all personal items and family photos. According to that 2017 NAR report, 40% of Buyers reported that staged homes were easier to visualize living in.
Staging isn’t a one-size-fits-all job. An experienced Realtor will take into account the condition of your home, market stats, and neighborhood comparables to give you the data showing what level of staging would be most beneficial. A Professional Stager will be able to give you great results, even with a modest budget.
Some homes only require a “light” staging job. This can mean simply de-cluttering, adding drapes, artwork, and textiles. Other homes may need a full on furniture and decor package. It’s important to know what amount of effort will give you the best return on your investment.
Staging becomes absolutely imperative when selling a home that is empty. Not only does it create a warm atmosphere and help show what each room can be used for, it causes buyers to attach to the home. Buyers will typically spend and average of 70% less time touring a home that is empty, compared to a staged home, according to RESA. This is because it’s difficult for a Buyer to connect to the home, the rooms look smaller, and empty spaces seem cold and uninviting.
A well-staged room will help buyers visualize where furniture should go, and what will fit in the space.
The Bottom Line: Un-staged vacant homes stay on the market an average of 90% longer, according to NAR. These extra months mean extra mortgage payments, which quickly add up to much more than staging fees, not to mention the stress extra time on the market brings.
“Staging is preparing a home for sale so the buyer can mentally move in.” -Barb Schwarz, International Association of Home Staging Professionals
Staging is the act of preparing and showcasing a home for sale by cleaning, de-cluttering, updating and repairing, arranging furniture, accessories, art and light.
Tips to stage your home:
Make your home look organized – even if you aren’t. Remove excess furniture throughout your home. Hange mirrors to widen a narrow room. Remove half of the contents of your closets to show buyer’s there’s plenty of room. Add light inside closets to make them look bigger. Take everything off of the closet floor. Color coordinate and organize clothing in closets. Make your master bedroom look and feel like a private retreat. Buy new bedding in neutral tones to dress up bedrooms. Showcase bedrooms as bedrooms. Make your master bathroom look and feel spa-like. Minimize what is on your countertops and tabletops to make them fee more spacious. Remove all household appliances that are not used on a daily basis. Make sure beds are made every day. Hide dirty laundry. Ensure sink is clear and clean. If selling in the summer remove all winter clothes; if selling in the winter remove all summer clothes. Place all hygiene items under the sinks in the bathrooms. Remove trash cans from view.
According to the NAR report, sellers should focus their staging energy on the Living Room, Master Bedroom, and Kitchen for the biggest returns.
Having your home Professionally staged will help you sell faster and for more money, even in a hot market. If you are considering Selling your home, you should seriously weigh all the pros and cons of having your home professionally staged. Choosing an experienced Realtor who can offer you professional marketing will make a world of difference in your Home Selling experience.
At The Robin Group we offer just that! If you are considering Selling your home in the Greater New Orleans Northshore or Southshore Area, we would love to show you what our Marketing Package can do for you. Call us at 985-778-2525 or email firstname.lastname@example.org today.