Do Staged Homes Sell For More Money?
Do Staged Homes Sell For More Money?
3/22/2018
Real estate can be a risky business. It requires a huge upfront investment of time, effort, and money, with no guarantee of a big payout in the end. So if you're about to put one of your properties on the market, you've undoubtedly spent a great deal of time wondering: How can I get the biggest return on my investment?
To answer that question, it's important to realize that a real estate transaction is about more than simply selling a property. It's about selling a vision.
Potential buyers who walk through a home must be able to imagine themselves living inside those four walls. Presentation is everything. And to make the presentation of your listing stand out among a crowded San Diego real estate market, it's important to consider professional home staging.
But is hiring a staging company worth the investment? According to the National Association of REALTORS, most sellers' agents say yes.
The numbers don't lie
Close to 2,000 active REALTORS participated in the 2017 Profile of Home Staging, providing their perspective on the impact professional home staging has on selling power. Over half of all sellers' agents reported that staging a home increased the dollar value received at closing, when compared to similar homes on the market that weren't staged.
21% said it increased the value between 1% and 5%
29% said it increased between 6% and 10%
8% reported the value increased between 11% and 20%
These are significant numbers, especially considering the median home value in San Diego County is hovering around $540,000.
But the benefits of home staging aren't limited to dollar amounts. Staging can also save you time. 62% of sellers' agents said that staging reduced the amount of time a property was on the market. Homes that look better, sell faster. And a faster sale means more money in your pocket, and a better reputation for your business.
Why staging makes an impact
The overwhelming majority of buyers' agents said that staging has a positive impact on how a buyer views a home. Rooms that look like they're actually lived in evoke a positive emotional response in buyers, making it easier for them to picture themselves living their own lives in that space. Agents also reported that potential buyers are more willing to do walkthroughs of staged homes than those that are empty or not staged. They're even more willing to overlook other faults within a property, as long as it's presented well.
That's probably why 38% of sellers' agents stage their homes prior to listing.
The quality of staging matters
But staging a home is only effective if it's done right. Staging is more than simply setting a couple of pieces of furniture out and calling it a day. Details matter. Remember: it's all about selling a vision. Your decor should tell a story, and that story should have a universal appeal. If the rooms are cold and empty, or the layout is poorly designed, it will be harder for buyers to visualize living there. It could even turn them off, according to the survey mentioned above, 9% of agents said a home decorated against a buyer's taste has a negative impact on its value. Our Luxury Home Staging tells a story.
The key to staging is in neutrality. Hiring an impartial, third-party staging company to do the job for you allows you to play up the architectural features of a home while appealing to the widest possible audience.