Top 5 Reasons Home Staging is Making a Comeback
November 15, 2022
It’s probably been a while since you orchestrated a house staging for your sellers. When the market was moving hot and fast last year, it just wasn’t as necessary to stage a home. But now, home staging could make all the difference in attracting potential buyers and signing on the dotted line.
If you need a refresher, or you aren’t sold on the necessity of the process, we’ve compiled a list of the top five reasons that you should recommend home staging to your sellers. Yes, it can consume valuable time you would rather spend getting homebuyers through the doors, but in the end, it can add up in a big way.
High Priced Offers
Just over 40% of staged homes, received offers that were up to 10% higher than un-staged homes according to the results of a National Association of Realtors (NAR) survey. While smaller percentages of homes received even higher offers, none of those surveyed reported home staging negatively impacting their offers.
If you are new to the industry, or you’ve never needed to stage a home before, you and your sellers may be assuming that the cost is too great to consider. However, most staging services charge an average of $1500. And, when agents and sellers work together to stage the home themselves, they only spend $300 on average. Whether your clients would like to tackle the project themselves or enlist the help of a professional, they will see that cost recouped easily when the home is sold for a higher price.
Fewer Days on the Market
According to the report from NAR, one-third of all staged homes sold in significantly fewer days than other homes on the market. In very few instances reporting agents cite staged homes taking longer to sell than the average home. In our current market, the average days on the market is increasing, which is great for buyers as they now have more time to make a decision. But, homes taking longer to sell can make some sellers wary of listing. If your sellers are concerned about their home sitting on the market for too long, consider staging the home!
Easier for Homebuyers to Picture Themselves
82% of buyer’s agents said their buyers could better visualize themselves living in a staged home, than the homes filled with seller’s personal items, per the NAR home staging report. A large percentage of buyers’ agents also said a staged home improved their buyer’s opinion of the property. While staging a home doesn’t change anything structurally about a home, it can reduce any bias or distraction on the part of the buyers, increasing your odds of striking a deal.
Home Staging isn’t Needed in Every Room
According to a 2021 report by NAR, homebuyers do not view all rooms as equals. 46% of homebuyers appreciated a staged living room, 43% said the primary bedroom and 35% listed the kitchen as a key room to stage. When discussing staging the home with your sellers, focus on the living room, primary bedroom and kitchen before deciding to tackle any other rooms in the house. Or, if your sellers are looking to save some money, you could stage only those rooms, leaving the others empty or in their original furnishings.
Regardless of the kind of property you are listing, home staging should be considered a viable option in a changing market. Did these tips help you decide to stage your listing? Comment below with any experiences you’ve had with home staging.
Source: Top 5 Reasons Home Staging is Making a Comeback Real Trends and (November 8, 2022) Audrey Lee