Professional home staging as an industry is still fairly young. It was introduced just over 20 years ago and was mainly incorporated with luxury listings. This is no longer true. During the past 20 years, professional home staging has a proven track record as one of the most effective marketing tactics in real estate transactions. It is now frequently used for all types of homes at all market values.
The reason home staging works is because people make purchase decisions based on their emotions, and they justify the purchase with logic. When done well, home staging can help potential buyers emotionally connect to the home and want to make it their own.
This being said, there are still many commonly asked questions about home staging services and its effectiveness. Here are the top four.
What is a home staging consultation?
This is a comprehensive process where the seller is offered a room-by-room assessment of the entire home to help get it show-ready and get top dollar for the sale. Typically, the seller is given an action list of items to tackle and helpful resources to make the process easier for them and their family.
The home staging consultation is an invaluable service and is recommended for sellers. They will get expert advice on what to do to get the most from the sale. The home staging consultation should be the first step taken when it comes time to sell.
It is important to remember that the more the seller does to prepare the house, the better it will show in order to attract the right buyers.
Do I really need to stage my home to sell?
The success of any product requires it to be properly merchandised and marketed. A house is a product that should be merchandised and marketed no different than a hamburger or a car or a boat. These days, home staging is necessary for a successful sale because only 10 per cent of buyers can visualize a house’s potential for themselves when it is not properly staged. The purpose of home staging is to accentuate the positives of the house and minimize the negative aspects to help more buyers see themselves living there.
Research has shown that buyers view professionally staged listings as “well-maintained”. Professionally staged listings also stand out in prospective buyers’ minds. Staged properties sell faster than un-staged houses.
From the date of listing until the day that an offer firms up, home staging shortens this time frame, even in a slow real estate market.
How much will professional home staging cost?
Home staging is an investment. The cost of staging varies by scope of work and size of the property. If the seller has the resources, time and know-how to stage the house, a consultation may be the only service they need. A consultation with a written action plan can range from $200 to $500.
Full-service staging is highly dependent on the size of the property and how much furniture and accessories will be required. Remember that professional home staging is an investment with a proven track record of producing positive returns on the investment. If knowing that the investment can help the seller make money, does it matter how much this initial investment is?
Will I recover my staging investment when my home sells?
Absolutely! Not only will the seller be able to recover their investment, according to the Real Estate Staging Association (RESA) home staging can help to reduce a property’s listing time on the market by 30 per cent to 50 per cent and could deliver a better price than a vacant house or a house that is not properly staged.
Your house is likely the sellers’ greatest financial investment. It may be more worthwhile to consider, “Can I afford not to stage?”