The word "staging" often brings sellers to their knees because they usually think of one thing when they hear that word...MONEY.
Why do you need to stage? Isn't your home good enough with your own furniture or an even better an empty house? Will your home sell faster if it is staged?
Before we get into staging, here are a few things to know. When you sell your home, there are 3 factors that go into selling, TWO of them are out of your control...
1. Price-- this factor is controlled by the market, what a buyer is willing to pay for your home with the current market in place.
2. Location-- another factor you cannot change.
3. Appearance-- THIS is the factor you can change! So be in control of displaying your home to look its best.
Knowing appearance is the one thing you can control, remember this-when potential buyers and Realtors search for homes, what do you think is the first and most important feature they see? THE PHOTOS! Photos are the most important feature on the MLS (Multiple Listing Service) and on other home websites. You want your home to show well to bring those buyers in.
Let's break down the facts about staging:
1. What is staging?
Staging is the act of preparing and showcasing property for sale.
Staging means to have a professional come to your home and advise you about what looks best in your home. If you have zero furniture in it then he or she would be able to suggest the best staging pieces to put into your home. There is quite a science to it from a certain number of colors (main and accent), the placement (size and shape) of "knick-knacks", and what makes a room look its best. If your home already has furniture you may really be wondering why then would you need staging? Your furniture is not only a personal reflection of your taste (and that may be wonderful!) but it is good to have a stager come by to be sure each room looks its best. You may have a room that you use for a different purpose but buyers will want to see it as it is supposed to be (for example, a dining room some use as a playroom). You may have a large armoire that is a family heirloom but that big piece makes your room look smaller and may turn buyers off. Remember, these are professionals and knowing what pieces go where and how much to have in a room is their job. A stager may suggest you only take out a few of the bigger pieces in a room, simply move a few things around, or add some things. The point to this is simple; you want your home to be at its best to entice all buyers to want to live in your home.
2. How much is it to stage a home?
I know you want a hard number, but there are so many factors that go into quoting prices with staging. One thing to remember is this, find a professional. Just because someone says they are a "decorator" does not mean they have the training to stage! Ask them a few questions too. How many homes have you staged? Do you have photos? Are you licensed and insured? Do you offer "pay at close"?
3. Ok, ok, let's get to the cold hard facts.
- Staged homes spend 90% LESS time on the market than unstaged homes
- Staging a home is LESS THAN a price reduction. Time is money so this doubles in importance.
- According to the Real Estate Staging Association national stats, you will sell your home 78% faster when it is staged
- You will get 6-10% more money. If your home is $300k you stand to gain $18-$30K (vs. losing on markdowns!)
- 81% of buyers' agents felt home staging has an effect on a buyers' view of the home
- 95% of buyers look online to decide which homes to go see. Great photos are a must..
- According to Zillow your home will lose a minimum of 1% a month while on the market
- If your home is not selling after about 30-45 days, your Realtor will likely suggest a price reduction. Home staging services for a home that is occupied costs approximately 1/4% to 1/2% of the home value-on a $300k home that is $750 spent that can save $9k to $15k on the first markdown!
- On a vacant home you are still paying the mortgage, lawn care, HOA, utilities, etc. Think about that each month vs staging!
I recently attended a course on staging that the company Sell or Dwell offered. These photos are from one of our listings when we used this amazing company to sell this home. If you have any questions about staging call:
Adrienne Lord Owner, Lead Stager President, Jacksonville Real Estate Staging Association
Selling is stressful. That is obvious. If you want to sell and have your home look its absolute best, consider staging. It is an investment you will not regret. It's like anything else you want to sell, if you are selling clothes you want them washed and ironed before listing them, so why not do this for what is probably your largest investment?