Even though rising mortgage rates are causing a slight slowdown in today’s real estate market, homes in desirable locations are still flying off the shelf. As such, you might conclude that staging a home prior to putting it on the market isn’t as necessary as it once was. But, think again. Staging is a big part of marketing a home. So, if you are asking yourself, To stage or not to stage in today’s real estate market? take note of the following:
STATISTICS SHOW
- Increased Viewings & Exposure: More than 95% of buyers look for homes online first and only 10% can visualize the potential of a home. Using images that show a beautifully staged home help potential buyers make a decision on whether or not to view the home in person. And getting buyers to show up is pivotal in the sale process.
- Higher Return on Investment (ROI): Approximately 75% of sellers saw an ROI of 5-15% over the asking price with only an average investment of 1% of the sale price into staging. (According to RESA)
- Faster Sale Time: According to the National Association of Realtors, homes that were professionally staged sold 30 times faster compared to those that weren’t staged, and with a 20% increase in the sales price.
Marketing a home to its full potential depends to a great extent on how the home shows. Staged homes show much better than those that aren’t.
WHAT ROOMS TO FOCUS ON
These are the rooms potential buyers spend the most time in:
- Kitchen
- Living Room
- Dining Room
- Master Bedroom
When working with a stager, make it clear that you want those rooms staged to get the most bang for your buck.
THE COST OF STAGING A HOME
The average cost for most stagers is $300 to $600 for an initial design consultation, and $500 to $600 per month per staged room.
In general, staging a 2,000-square-foot home will cost around $2,000 to $2,400 a month. Most professional home stagers also require a three-month minimum staging contract even if you sell the home in 24 hours. That could bring your final staging bill to $7,200.
STAGING CAN SAVE MONEY AND TIME
The biggest cost savings for home sellers who use home staging? Selling their home faster, at a better price, and without months of carrying costs—because their house was properly staged and buyer-ready. This is the strongest incentive when it comes to the question to stage or not to stage in today’s market.
STAGING AS A LISTING INCENTIVE
Some Realtors offer staging as a pro-bono service to their clients as a way to beat out the competition and get the listing. When you are able to guide your clients as to the advantages of staging–a quicker sale at a higher price–and also offer that service as part of your “concierge” service, you will gain an edge over the competition.
STAGING HELPS BUYERS FALL IN LOVE WITH A HOME
When buyers truly fall in love with a home, a number of positive things happen. First and most importantly, you have achieved your overriding mission of adding service to your clients and truly being a professional in the industry. Happy clients are what real estate is all about. Secondly, buyers who become committed to a purchase will typically bring in higher offers that also have a higher probability of closing.
WHERE TO FIND A REPUTABLE STAGER
Often you will find that your colleagues gravitate towards one or two favorite stagers, so word of mouth is always a good place to start. However, in a heated market stagers can get pretty busy and may not be able to meet your time schedule. Another place to look for reputable stages is the Real Estate Staging Association (RESA). RESA members have liability insurance and adhere to a code of ethics and professionalism. RESA also provides a place to log complaints and helps to maintain a high code of ethics and performance in the staging industry that you may not always get with stagers that do not belong to RESA.
LAST WORDS
For whatever reasons, maybe you and your sellers are choosing to opt-out of staging. At the very least, encourage your sellers to declutter, decorate, and freshen. Decluttering includes depersonalizing the home so that potential buyers can imagine themselves in the home. Decorate by strategically placing objects in the room that add color, focus and balance. And freshen by replacing accent pillows, bath towels, and kitchen towels. Even these little things will go a long ways towards creating an inviting space that will allow buyers to better visualize the home in an ideal way.