When it comes time to put a For Sale in your front yard and sell your home, every homeowner wants the same thing: the highest possible price in the shortest amount of time. That much is universal. But from there, home sellers may diverge in their opinions of how to best reach that goal, as some hire top-notch agents (that usually works best); others employ discounted agents (not so much); and, GASP, a few even try to sell their home themselves (a recipe for disaster).
But home sellers have another important choice to make: to have their home professionally staged or not. And it turns out, a lot of money (yours!) is riding on that decision.
Just consider that last year, about 5,250,000 existing homes sold in the U.S according to the National Association of Realtors. In addition to that number, there were 510,000 newly constructed homes that sold as well. Together, there are about 15,780 home sales every single day in the U.S.
If you’re trying to sell your home, that means you have some SERIOUS competition, all wanting to sell their listing quickly and for top dollar. So how can you stand out?
Of course, and pricing your home accurately is fundamental. But there’s another great way to separate your home from the competition, attract more prospective buyers, sell quicker and for more money: home staging.
In this blog, we’ll cover some of the hard facts, statistics, and data on just how effect home staging is for selling homes quickly while netting sellers far more profit. Based on this third-party independent research, homeowners can make an informed decision whether they should have their home-for-sale staged, and Realtors can present this information to their clients.
What do other Realtors think about home staging?
32% of real estate agents report that staging a home increases the dollar value that buyers are willing to offer by a substantial 1-5%, mainly on medium to high priced listings.
To put that dollar increase due to staging in perspective, that means the sellers would see $3,500 to $17,500 more on a $350,000 home sale!
That’s just a start to the financial benefits of staging, as 16% of real estate agents believe staging actually will increase the price their buyers offer by 6-10% which would be up to $35,000 on that same $350,000 home.
How do most homebuyers feel about staged homes?
Of course, realtors have a great perspective on home staging, but what if we asked those same buyers we’re trying to attract?
In fact, 81% of buyers say it’s easier to visualize themselves living in the home when it’s staged, and 28% overlook the home’s faults when it’s staged.
46% of buyers are more willing to go view and walk through a listing they saw online when it’s staged.
What do buyer’s agents think about the effects of home staging? 49% of agents representing the buyer feel that home staging helps influence most buyers, while 47% feel at least some buyers are affected by staging.
Home staging costs a median of $675 per listing. Of course, it will cost more to properly stage a higher end or luxury home, but it’s important to remember that the ROI will be the same or even better, netting far more for the seller.
How many sellers’ agents recommend staging?
34% Stage all home listings
13% Stage homes that are difficult to sell
4% Stage only high priced listings
44% De-clutter and fix the property only without staging.
Which rooms are most likely to be staged?
1 Living room
3 Master Bedroom
4 Dining Room
6 Children’s Room
7 Guest Bedroom
Who pays for home staging?
62% Seller’s agent offers the home staging services to sellers as part of a full-price commission package.
39% The seller pays to have the home staged before the home is listed.
10% The seller pays the stagers after the home is sold.
3% The real estate agent’s firm pays for home staging services.
How much more are buyers willing to offer for a staged home?
4% Staged home has an increase of 16-20% of the home’s value
8% Staged home has an increase of 11-15% of the home’s value
22% Staged home has an increase of 6-10% of the home’s value
37% Staged home has an increase of 1-5% of the home’s value
10% No impact on dollar value
0% Staged home has a negative impact on price compared to a similar home
19% Not sure
An independent survey showed that staged homes spend only half as many days on market as non-staged homes, and sold for more than 6% above asking price!
Time is money when it comes to selling a home – and staging saves time:
A National Association of Realtors (NAR) study seconded that when it found that the longer a home stays on the market, the further the price drops and the less it will ultimately sell for.
Since 90% of homebuyers first start their search online these days, your listing photos will really stand out and attract more buyers when your home is staged.
The same NAR survey found that the average staged home has an ROI of about 8-10%.
A comprehensive study found that homes that were staged AFTER they were already listed sold in an average of 198 days.
However, when homeowners had their homes staged BEFORE they listed them for sale, these properties sold in only 42 days!
That means homes staged pre-listing sold 79% percent faster than those staged post-listing.