“Staging” is the practice of setting up and furnishing an empty house being sold, rather than leaving it empty. It’s all for cosmetic purposes. Staging is a relatively new practice that has exploded in popularity in the past 2 decades.
It was discovered that furnishing homes when selling had psychological effects on potential buyers. It acts as an audition to eager people who prowl the markets.
Staging acts as “make-up” to any home with mild blemishes. Viewing a home completely empty is useful but can often show every little flaw it may contain. These flaws may not be enough to ruin the sale on their own, but they stand out much clearer when the room is empty.
Keeping Up with the Jones’s
You might not be a fan of staging, but it’s quickly become a fundamental staple within the industry. A staggering number of home sellers are following this commodity, which means your home will likely be sold against professionally staged homes. According to Investopedia, 82 percent of buyers agents confirmed that staging undoubtably made selling easier. It made it easier for buyers to “visualize the property as a future home”, according to a report by the National Association of Realtors.
Another thing you may want to consider is your online presence. The National Association of Realtors (NAR) reported that 93 percent of people dwelling in the market used online listings to search. The internet is fantastic source for home selling, it broadens your reach to so many more people, but this also means your home needs to look good online. This rings especially true in the age of “DIY” television which has heightened our expectations of what a home looks like. High-resolution pics combined with a properly staged home can dominate a market. If you can’t capture adequate pictures yourself, hire a professional to help. There is a notably difference between amateur and professional staging.
Proper staging also effects how much it can sell for. According to a 2017 report performed by the NRA, 58 percent of realtors experienced higher offers given to staged homes over those sold empty. Any where from 5 to 10 percent higher than asking price. That’s a significant mark in competitive markets. Only 14 percent of sellers believed staging to be an unnecessary tactic.
Home Staging Resource is a website that aids eager sellers in staging their homes. They recently performed a study involving 4,200 staged homes. 85 percent of the staged homes sold for up to 25 percent more than the un-staged homes.
Plain and simple, staging a home shows professionality and care towards the environment that largely translates to eager home buyers.
The expenses of staging may wildly vary. First, you need to consider the level of staging required, and which source you’ll choose for advertising. Will you be strictly online? Will you hold open houses? For example, virtual staging is when you photoshop furnishings into a picture for online posting. It’s become mildly popular and can be incredibly cost effective if you don’t plan on hosting physical open houses.
You first need to determine how much you’re willing to spend vs. how much you think you’ll make back. Staging often requires renting furniture to furnish the home, which can still be worth the endeavour. But using your own furniture not only cuts costs into thirds, but also might make you a profit. Home buyers have been known to purchase the furniture that comes with a staged home.