Staging - Unlocking the Power of A Home's Potential In A Seller's Market!

Even in today's real estate market, where homes are seeming to fly off the market as fast as they are put on the market, sellers are always looking for ways to maximize their homes appeal and value!  One strategy I always recommend is home staging!  But, over the last year or so, I have had potential sellers ask me if all the effort and investment put into staging is really going to pay off, especially in our current seller's market!  So let's explore why staged homes and how they can help sellers, even in this hot seller's market!

THE ART OF HOME STAGING

Home staging is not just about adding decorative art and rearranging the furniture!  It's about creating a story that potential buyers can envision themselves being a part of!  In a sellers market, where demand  often outstrips supply, staging can be the secret weapon to make your property stand out among the competition!

FIRST IMPRESSIONS MATTER

They say you never get a chance to make a first impression, and this holds true in real estate.  Staging helps create a welcoming and inviting atmosphere, making buyers feel at home from the moment they step through the door.  This positive initial experience can play a crucial role in influencing their decision-making process.  

VISUAL APPEAL AND ONLINE PRESENCE

In today's digital age, the first encounter many buyers have with a property is through online listings.  Staged homes tend to photograph better, showcasing their features in the best light possible.  High-quality, visually appealing images can attract more buyers, driving up competition and interest.

EMPHASIZING KEY FEATURES

Staging allows you to highlight the key features of your home.  Whether it's a cozy reading nook, a spacious kitchen, or a stunning fireplace, a well-staged home draws attention to its strengths.  This emphasis can create a lasting impression and may even justify a higher price point in the eyes of potential buyers.

CREATING A LIFESTYLE

Buyers aren't just purchasing a house; they're investing in a lifestyle.  Staging helps create a narrative that allows potential buyers to imagine themselves living in the space.  From modern and minimalist to cozy and traditional, staging sets the tone and helps buyers emotionally connect with the property.

THE NUMBERS SPEAK FOR THEMSELVES

Numerous studies have suggested that staged homes tend to sell faster and at higher prices than their non-staged counterparts.  While individual results may vary, the overall trend suggests that the investment in staging often pays off in terms of a quicker sale and potentially a more favorable sale price.

WHAT ARE THE NUMBERS

According to the Real Estate Stagers Association (RESA) ---

*  Staged homes spend 73% less time on the market than non staged homes!

*  Staged homes sell for $40,000 over asking price, on average!

*  Per the National Associaton of Realtors, 82% of the buyers find it easier to visualize a property as a future home!

*  Per RESA, a staged home creates a positive first impression in the first 7 to 10 seconds!

*  Per the National Association of Realtors, the 3 areas that are most important to stage are:  the living room (47%), the master bedroom (42%) and the kitchen (35%).

*  Per RESA, the average return on investment is $5.86 for every dollar spent on staging!

*  Per the National Association of Realtors, the cost of staging can be as little as 1% to 5% of the home's value!

WHY NOT VIRTUALLY STAGE THE HOUSE

Many sellers feel that virtually staging a home may be a better alternative than physically staging the house!  The pluses of virtually staging a home, especially if the house is empty, can be things like the cost, the quick turnaround and the ability to play around with layout of furniture!  

I have found virtually staging a home works well when I have listed an older home that is very dated to be able to show how a dated kitchen or dated bathroom space can be used!  I have used virtually staged photos to show how an awkwardly designed room can be used by the buyer!  

But, if you are doing a walk through video on the house, a house with no furniture in it can look very bland and boring.  Rooms become hard to distinguish one from the other!  

CONCLUSION

In a seller's market, where competition can be fierce, every advantage matters.  Staging your home is more than a cosmetic enhancement - it is more than just sprucing up and decluttering the home!  It's a strategic move to captivate potential buyers and set your property apart.  While the decision to stage ultimately depends on your specific circumstances and budget, the potential benefits in terms of quicker sales and increased offers make it a compelling option to consider.

So, if you're gearing up to sell your home in a seller's market, don't underestimate the power of a well-staged property.  It may be just the key to unlocking a successful and lucrative real estate transaction.

Have questions?  Feel free to get in touch and let's talk!