One of the top questions I get from my clients when getting ready to sell their homes, “Do I really need to pay to stage my home?” My quick answer, yes.
Think about the multi-billion dollar fashion industry, which relies on models to showcase their products in the best possible light. A nice dress on a hanger is one thing, but buyers want to know what the dress will actually look like on. Why should selling a home be any different?
Here are my top five reasons for making the investment in staging.
- First impressions matter. Face it, people are drawn to the bright and shiny, the pristine. A staged home results in better photos. It’s those photos which will attract more views for your listing. More views lead to more interested buyers, which in turn leads to a quicker sale.
- Staging helps with the vision. A staged home gives buyers a more favorable impression of a home’s livability. People buy on emotion and being able to “see” their family living in the space is essential. In fact, 81% of buyers surveyed by the National Association of Realtors said staging made it easier to visualize a property as their future home. Also, a properly staged home will showcase how to best use the space of a home. No more questions about what to do with that awkward nook in the corner.
- You will make more money. A recent survey by Coldwell Banker Real Estate Corp. found that staged homes not only spend half the time on the market than non-staged homes, they also sold for more than six percent above the asking price. Even without a price bump, by spending less time on the market, sellers save on ongoing mortgage, insurance and other expenses.
- You will get a good return on your investment. While the cost of staging varies depending on the style of your home and how many rooms need to be furnished, typically, you should budget 1-3% of the listing price for staging. With the average price reduction being 7%, staging is clearly the way to get the most value for your money.
Bottom line, staging is an essential part of preparing your home for sale and creating a home that buyers want to buy. It certainly is a way to be in the best competitive position in this market today.