People simply don't realize how much staging can do for a home! Home staging works, the proof is in the industry statistics of homes selling quicker and for more money.
I am always amazed when I go into a vacant stage and witness the transformation. When we arrive at a home that may feel kind of "blah" or look outdated and we leave thinking we could move here, I know we've done our jobs! Staging accentuates the positives and downplays the negatives. It is a wonderful tool!
Today we will look at some awesome staging statistics that were taken from an array of realtors, selling agents, and homebuyers to show you why home staging is vital in the real estate industry.
*all statistics provided by the National Association of Realtors, 2019 survey
Does home staging drive a larger profit?
"What is the expected return on my investment?" is the most frequently asked question we get at Staged Above. No one wants to throw money away; they want to know they are investing it wisely and it is going to pay off.
So far this year our clients have seen an average of a 300% return on their investment when staging their home with Staged Above. Homes we have staged have sold in less time and for MORE money.
25% saw a sale price increase of 1-5%
12% saw a sale price increase of 6-10%
4% saw a sale price increase of 11-15%
2% saw a sale price increase of 16-20%
1% saw a sale price increase of more than 20%
44% of homes staged saw an increase in their sale price. However, another 29% of homeowners didn't see a change in their price, but that doesn’t mean they didn’t receive their asking price.
Based on these stats, there is a 73% chance that buyers will receive their list price or higher if they stage their home. Those are good odds and well worth the investment in staging!
Does home staging attract more buyers?
In today's world, everyone is starting their search for a new home online. As a seller, you have approximately 9 seconds, or 5 photo clicks to capture prospective buyers.
A recent survey by NAR showed that home buyers are 38% more likely to visit a staged property in person than a non-staged property. Over 40% of sellers reported that staging changed their view of the home.
We recently staged a home in Frederick, MD that had been sitting stagnant on the market for two months. The feedback from showings was that buyers were struggling with how "white" the space was, and the awkward layout of the front entry.
Our team put together a modern farmhouse look to fit this property and we added in some yellows and blues with pops of greenery to make the home feel more energized. We tackled the awkward front entry spaces by defining both areas to give them a purpose. Instead of empty spaces, potential buyers would instead see an office/study area and a formal living room. Two weeks post-staging, after sitting on the market for several months, it went under contract!
Does home staging change buyers' impressions?
83% of sellers' agents report that home staging helps their clients visualize the property and its potential. By clearly defining spaces and giving them a purpose, home staging allows buyers to mentally unpack while they walk through the home.
Staging a home to the demographic of prospective buyers is particularly important. At Staged Above, we consider who the buyer will be and the overall type of home we are staging when we put together a look for each property we stage. 37% of sellers' agents say that decorating to the prospective buyers taste positively impacts that home's value.
Professional home staging can help buyers overlook a property's faults by focusing on the property's selling features that have been enhanced by the staging.
Which rooms are the most important to stage?
At Staged Above, we focus on staging the "Heart of the Home" in each of the homes we stage. These key areas of the home are what prospective buyers relate to when looking for a home. They include the living room, kitchen, master bedroom, dining room, and master bathroom. Realtors and stagers agree these are the most beneficial areas to invest in when staging your home.
Home staging is the opposite of decorating because it is not personal. Home staging is not taste specific; it is meant to appeal to the masses of prospective buyers rather than focusing on one person’s unique tastes. Home staging should be about showcasing the home's architectural features.
I tell clients all the time that if the buyers walk through the space and focus on the furniture, then we didn't do our job right. They should not be focused on the furniture or decor that was placed in the home. They should be focused on the amazing view, the wooden floors, or the fresh coat of paint. Staging focuses on helping to showcase the property itself to prospective buyers.
If you're wondering what you can do to help raise your property's perceived value (and the list price), be sure to sign up for our newsletter!
See you soon,
Shari