In the current hyperactive real estate market, many real estate agents may be less inclined to stage their listings, given the prevailing notion that staged homes sell 88% faster. While this statistic held significant weight in a time when the average home took months to sell, its impact is diminished in today’s seller’s market, where listings are expected to go under contract within the first weekend.
To determine if your market is a “seller’s market,” consider Redfin’s definition: more homebuyers seeking homes than available houses for sale, leading to rising prices, intense competition, and increased bidding wars.
Houses are now spending fewer days on the market even without staging, but the value of staging goes beyond expediting the sale. Home staging establishes an emotional connection for the buyer, a crucial factor in a seller’s market for maximizing profits on listings.
- Staged listings have the power to make buyers fall in love, as revealed by a 2021 National Association of Realtors™ study. This emotional connection enhances the perceived value of the home, setting it apart from competitors and attracting higher offers.
- Staged listings increase the likelihood of successfully navigating the inspection and appraisal process. In a hot seller’s market, rushed decisions can lead to contracts falling through. Staging creates a stronger emotional connection, reducing the likelihood of buyers backing out during unexpected issues.
- Staging helps buyers overlook needed repairs, especially in a market where buyers may have exhausted their budget on the purchase. By minimizing the perceived weight of renovations, staging ensures the home feels as new as possible, reducing objections.
- MLS photos of staged homes attract more views, influencing buyers’ decisions. Quality online images are crucial in a market where 99% of millennial homebuyers begin their search online. The initial online impression, combined with the impact of seeing a staged home in person, solidifies interest.
- Staging creates the illusion of larger spaces. Contrary to intuition, vacant homes may feel smaller, while staging with appropriately scaled furniture gives the impression of more spacious living areas.
- Home staging proves to be a lucrative investment. According to RESA, a 1% investment of the sale price into staging resulted in 75% of sellers seeing a return on investment ranging from 5-15% over the asking price. The potential return on the staging investment can be as high as 400%-1,400%.
Considering recent surveys, the cost of not staging a listing can be significantly higher than the staging investment. Ultimately, regardless of market conditions, staging remains a critical aspect of the selling process. In the realm of real estate, where homeownership represents a significant investment, creating spaces that buyers fall in love with ensures negotiating power stays firmly with the seller, avoiding missed opportunities for profit. Don’t leave money on the closing table—invest in staging.
Let’s get your home sold for the highest profit in the least amount of time! Contact me.
