Home staging is a valuable marketing tool you don’t want to skip when selling a home. As real estate market conditions across the country continue cooling down, staging is even more critical in capturing (and keeping) a buyer’s interest during their home search. Successful home staging can also lead to a higher-priced sale and a much shorter listing time. Read on to learn why staging is so important in the current market.
The advantages of home staging
There are several advantages to home staging that can make a profound difference to sellers listing their properties in a cooling market. From appealing to more buyers to speeding up the selling process, here’s why you should stage when selling a home.
Appeals to more buyers
One of the main benefits of staging is that it helps buyers connect with the property. A home that appears move-in ready appeals to a buyer’s imagination, while incorporating on-trend décor leaves buyers with a positive impression of the space. Staged homes also help buyers visualize a property as their own, which increases their feelings of connection with the listing and their likelihood of making an offer.
Staging also serves a practical purpose for buyers in helping them gauge the true size of a room. Homes that aren’t staged may appear smaller or stale to buyers if not property furnished and decorated. Staging with appropriately sized pieces of furniture and intentionally chosen décor helps buyers gauge the space of a room, its purpose, and how their belongings will fit into it.
Highlights a property’s perks
Effective home staging showcases a property’s most compelling features and amenities. Typically, the rooms that buyers value the most when staged are the living room, primary bedroom, kitchen, and dining room. Through staging, these highly valued areas are transformed from standard rooms to one-of-a-kind spaces with a sense of purpose and style. Effective staging efforts can emphasize attractive architectural designs, a window with panoramic views, or another appealing home amenity.
Higher sales prices
Staging can also lead to higher offers
from buyers when selling your home. In fact, many buyers make higher bids on staged homes because it increases the home’s perceived value. Staging does this by emphasizing a property’s positives and decreasing its negatives. Even if buyers have a concern with a property, they’re more likely to overlook them in a staged home.
Staging has a measurable impact on sales prices as well. According to a quarter of buyers’ agents, staged homes received offers that were 1 to 5% higher than similar, unstaged properties.
A quicker home sale
According to the NAR, successful staging can help a property sell much
more quickly than homes that aren’t staged. This is especially important in a cooling market where listings can linger on the market for much longer. Not only do shorter times on the market decrease the risk of a low sale, but it can be helpful for a seller who is on a timeline and planning a home purchase of their own. Staged homes have shorter selling times simply because buyers can more easily evaluate the space and connect with it.
An investment that pays itself off
In addition, sellers typically make back the money they put into home staging. With an investment of just 1% of the sales price, three-quarters of sellers experienced a return on investment
of 5-15% over the asking price.
In fact, not staging may have more detrimental effects on the sale. Price reductions for unstaged homes average 5-20 times more than what staging would have cost. Thus, sellers have much more to gain from a small initial investment and risk more significant losses by not staging at all.
Home staging tips
Staging certainly has a positive effect on a home listing, although getting the process right can be tricky. Follow these home staging tips to make a listing look its very best.
Look for inspiration
One of the best ways to learn about current design trends is to look for inspiration from professional home stagers in the area. The award-winning interior designers at IMG
prepare distinctive staging worthy of a magazine cover. Cultivate a polished and upscale interior by furnishing rooms with neutral-toned couches and chairs, incorporating sleek metal lighting fixtures, and prioritizing the use of high-quality materials.
Other professional services like Staged to Sell
offer even more inspiration and services. This award-winning firm focuses on creating a fresh and natural home interior that highlights each stunning room with pristine walls, elegant furnishings that utilize the space well, and unique décor that appeals to a wider buyer pool.
Keep things clean
Before a home can be staged, sellers must clean the property thoroughly. By neglecting the small details, sellers will never achieve a totally flawless look. Make sure to thoroughly clean the entire home by mopping and sweeping all floors, vacuuming the carpet, dusting off the shelves and light fixtures, and leaving all reflective surfaces streak-free. A fresh coat of paint also helps the home look crisp and new, while decluttering makes rooms appear more open and spacious.
Leave the staging and marketing to the pros
Staging has a significant impact on a seller’s success when listing their property for sale. Staging appeals to a buyer’s sensibilities by leaving them with a lasting positive impression and helping them conceptualize the function of a space. Staging also has measurable effects on the sales price and selling time of a home. In the end, staging is a highly valuable investment that pays off when selling your home; don’t skip it!
Sellers preparing to stage their homes can look for inspiration and partner with acclaimed broker Sophie Ravet
for top-tier guidance. Not only does BHS
guide sellers through a streamlined home sale, but they also offer to pay for beautiful home staging services, which a seller pays back at closing. From Tribeca to West Village real estate, with the experts on your side, you can create a truly showstopping space. Get started today!*Header photo courtesy of Sophie Ravet