Home Staging is professionally preparing homes for sale so that they appeal to most buyers and generate the highest price in the least amount of time on market.
Home Staging is detailing, de-cluttering, depersonalizing and preparing a seller’s home to give it a “model home” appearance so that the potential buyer can “see” themselves living in the home.
There are 2 types of home staging. Consultations, or occupied staging, is when the sellers are living in the house while it’s on the market. A stager will come to your house and walk around the interior and exterior with the sellers or their agent, to provide feedback on the areas that need improvement. This might involve painting, decluttering and rearranging or removing furniture. Vacant staging is when the house is empty and a stager brings in furniture, artwork, rugs, accessories, etc., to give the house a model home feel.
I have often heard sellers and Realtors alike claim, “But we’re in a hot market right now, we don’t need staging.” I like to point out that The National Association of Realtors surveys their agents every other year about home staging, and in 2017, 49% of sellers agents said that staging helped them get an additional 1–20%. That is a win-win for both sellers and agents. 77% of buyers agents said that staging a home made it easier for a buyer to visualize the property as their future home. When you stage, it’s not just about filling up the house. We are actually trying to create an emotional connection between the potential buyer and the property. We are encouraging them to visualize warm nights on the patio by the pool, or big family dinners at the holidays. We do this through the use of carefully chosen accessories, placed intentionally throughout the home to create this connection.
Buyers are 27% more likely to overlook the flaws of a home when it is staged. This is especially true for homes that are a bit outdated or need a little love. The house shown below was under contract in just a few days, despite the fact that Saltillo tile is not in style right now, and very labor intensive to remove. By incorporating the orange color of the floor into the design of the living room, we turned a negative into a positive. Without staging, all buyers see is the outdated floor and a big project.
With the open floor plans that are popular today, people often have a hard time visualizing the furniture arrangement. Dining rooms are often “stacked” onto living rooms, so the living and dining areas are in the same large open area. You need to lay it out for them so they can imagine where the dining area ends and the living area begins.
40% of Realtors said staging a home greatly reduces the amount of time a home is on the market. This home shown below was vacant and on the market for 6 months. The beams and open concept made it confusing to people about how they would arrange the furniture, and whether either of the spaces were big enough to serve their purpose. Once we staged it, it was under contract in two weeks.
This condo shown below was on the market for two months with the seller’s furniture. Although it was eclectic and cute, the furnishings didn’t really fit the style of the building or appeal to the demographic that would most likely be purchasing the unit. Once they moved out and we staged it, it was under contract in one week, and during the holiday season no less.
Is Staging Worth The Cost?
Staging will always be less expensive than your first price reduction. It can be tempting to wait and see if the house will sell prior to deciding to stage. However, this can easily lead to a vacant house sitting, accumulating days on market, and making potential buyers question what is wrong with the property. With the market starting to soften a bit, staging can give you the edge over the competition.
Only 4% of Realtors think staging has no effect, so in other words, 96% of Realtors believe in staging.
Originally published on Stanberry.com.