How Important is Professional Home Staging?
How Important is Professional Home Staging?
When you decide to list your home for sale, there are many things you can and should do to strengthen the “sale-ability” of your home. Certainly, improving outdoor curb appeal and indoor removal of clutter usually tops the list. But, what about professional home staging? Professional home stagers are practiced in the art of preparing a home for resale. They work with the “flow” of a home, eliminate clutter, edit and arrange furniture, and even assist in enhancing your curb appeal. Typically, a potential buyer has made up his/her mind ten seconds after they step in the front door. They were already forming an opinion as they pulled into your driveway! With the aid of a professional home stager, your house can make a notable first impression on potential homebuyers, which can be key in getting the offer you want. Sure, this is an additional cost, however does it really help sell your home? And, how much does it cost?
According to the most recent Profile of Home Staging Report (realtor.org) distributed by the National Association of REALTORS® (NAR), most buyers are affected by home staging. Among REALTORS® who typically represent the buyer, 49 percent report most buyers are affected by home staging and 47 percent report some buyers are affected by home staging.
Additional key findings:
- For buyers, it is easier to visualize the property as a future home (81 percent), will positively impact the value of the home if it is decorated to the buyer tastes (45 percent), and buyers are more willing to overlook other property faults (28 percent).
- Among sellers’ agents, 34 percent stage all homes, 13 percent stage difficult homes to sell, and 4 percent stage only high priced, luxury homes. Forty-four percent suggest the seller de-clutter and fix property faults only and do not stage the home.
- Among homes that are staged: 62 percent of sellers’ agents offer the home staging services to their sellers, 39 percent of sellers pay for the home before the home is listed, 10 percent of sellers pay after the home is sold, and three percent of agents’ firms pay for the home staging service.
- Thirty-two percent of buyers’ agents believe staged homes increases the dollar value buyers are willing to offer by one percent to five percent. Nineteen percent say there is no impact on the dollar value, and sixteen percent believe it increases the dollar value buyers are willing to offer by six to ten percent.
- Thirty-seven percent of sellers’ agents believe staged homes increases the dollar value buyers are willing to offer by one percent to five percent. Twenty-two percent believe it increases the dollar value buyers are willing to offer by six to ten percent, ten percent say home staging has no impact on dollar value, and eight percent say home believe staged homes increases the dollar value buyers are willing to offer by eleven percent to fifteen percent.
Which room of the home is most likely to have an impact when staged? Those REALTORS® representing buyers ranked the living room as the most impactful room when staged. The kitchen, master bedroom and dining room followed with the bathroom and all other rooms at the bottom of the list. REALTORS® representing buyers also shared 46 percent of buyers were more willing to walk through a staged home initially seen online than a home which was not staged.
What does professional staging cost? According to the report, the median dollar value to stage a home is $675 per home. However, this will most likely vary by home size and region, especially in Southwest Florida. And, of course, like any product or service, you typically get what you pay for.
So, when it’s all said and done, does professional home staging make a difference? Approximately half of REALTORS® representing both buyers and sellers believe so. Also, it seems to increase the chances of an in-person viewing after an online viewing and, in some cases, can increase the asking price. Most importantly, it provides a first-time impression which could be the buyer you’re looking for! After all, it only takes one, right?
The bottom line? Professional home staging is definitely worth considering! Talk with your real estate agent about the benefits of professionally staging your home prior to listing it. He or she will most likely have some good resources for home staging to point you in the right direction.
Keller Williams Elite Realty
[contact-form-7 404 "Not Found"]