We often get asked the importance of home staging and, more specifically, if it is something a seller should do. As a team of real estate brokers, we have not only seen the importance of staging, but also the value it brings to a property as well. We like to think of it as “Staged and Sold”
Staging a home is certainly an investment, but it is an investment that has driven results for sellers all across the country. Many home sellers are hesitant to stage their home because they think it is too costly, too much effort, and won’t yield results.
Get all these reasons out of your head because staging your home is an extremely effective tool that can reduce your home’s time on the market and increase its value, both of which are money in your pocket. Additionally, in a highly competitive real estate market, staging can be a tool that gives your home a competitive edge.
So, you are probably wondering, why should I stage my home?
1. A Powerful Marketing Tool:
A sound marketing strategy is necessary for any listing, from social media campaigns to open houses, and yes, staging, marketing is a key component of selling a home. Staging is, in fact, a form of marketing and an effective one at that as it allows the buyer to mentally move in to your home and visualize the space.
- Make photographs more appealing for use on web, social, and digital campaigns
- Staging makes your home memorable and can serve as a differentiator
- Position your home as appropriate for the target audience through the lifestyle you portray with the staging
Imagine a buyer that has tirelessly been looking at properties, perhaps empty apartment after empty apartment. In the mind of the buyer, they all start looking the same and nothing notable can quickly be recalled from memory. In this instance, staging would make your home “stand out from the crowd” and be more memorable to prospective buyers.
2. Increase the Value of Your Home:
A staged home looks appealing and inviting, and also allows the buyer to more easily see his or herself in the space. All of these aspects help to evoke a sense of desire in prospective buyers. As a result, a buyer is more willing to pay a premium for something he or she deems as desirable and valuable to him or her.
In fact, the National Association of Realtors conducted research that reported that for 32% of buyers the value the buyer was willing to offer for a staged home was 1-5% higher than an unstaged home, and even went as high as a 10% premium!
3. Your Home Will Sell Faster:
The Real Estate Staging Association reports that homes staged prior to listing spend on average 76% less time on the market. Their research concluded that staging did, in fact, work to reduce time spent on market.
Less time on the market means savings for you. Many sellers forget that the longer their home sits on the market, the longer they are responsible for mortgage payments, maintenance costs, etc. which all add up and can sometimes be more than the cost of staging!
4. First Impressions Are Everything:
The old saying you have been hearing since childhood comes into play with staging and selling your home as well. Today, the majority of buyers start their home search online, and the power of images has never been more important.
- Staging will make your home stand out in online searches, increasing the chances of attracting prospective buyers right out of the gate.
- Staging often involves decluttering and depersonalizing the space, two important factors for appealing to a wide audience
- If you do not stage your home properly from the beginning you risk making a bad first impression and face the costs of lost time.
An Example:
20 West 64th Street, Unit 28DE represented by The Victoria Shtainer Team exemplifies effective staging. The apartment, an expansive 3,045 square foot home by Lincoln Center, offers ample space and stunning views. Living in this home offers a true lifestyle, being located right in the heart of Lincoln Center with some of the best the city has to offer at your finger tips.
Without staging, the apartment feels very expansive and it is hard for prospective buyers to actually visualize waking up in the master with Central Park views or imagine their family watching TV in the media room. The staging brings the apartment to life and the buyer can mentally move in, understanding what makes the apartment truly special. The photographs speak for themselves.
We successfully transformed our listing at 166 Perry Street (which has sold) with the power of staging. The apartment had a personal touch, as the layout was to the owner's specification. The staging decluttered and depersonalized the spaces into functional rooms that appeal to any audience. Below is an example of just one room in the expansive 5 bedroom apartment showing the before and after:
