Home staging has become a more common practice in the selling process these days. Admittedly a staged home looks appealing but what are the benefits to the sale process? The answer, a staged home attracts more buyers, more offers and can attract a higher price. Below are home staging statistics and studies proving that home staging is an important part of the selling process.
Staged homes appeal to Buyers
As a Realtor, I can say it’s a pleasure to bring a staged home to the marketplace. A staged home improves the appearance of a home providing the buyer with a great first impression and that makes all the difference. According to the US National Association of Realtors, 81% of homebuyers felt a staged home aided them in imaging the property as their future home.
Staged home sells faster and for more money
Staged homes spend fewer days in the marketplace than non-staged homes. NAR reports that 53% of realtors say staged homes selling faster. RESA reports staged homes spent as little as 23 days on market.
Not only are staged homes preferred by home buyers, but they sell for more than other homes in their marketplace. According to NAR, 96% of buyers agree that a staged home affects how they feel about the condition of a home. Furthermore, NAR cites that 32% of realtors claim an increase of 1% – 5% in value.
In a 2020 survey of 13,000 staged homes, RESA (Real Estate Staging Association) reported 85% of home sales 5 – 23% over asking price. That is a significant price increase for the seller.
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To Stage or Not to Stage is the question
When should a home seller consider staging? If your home will be in an upscale market with expensive homes, you should consider staging your property. Buyers in this market expect a level of quality and luxury and want to ensure the product is worthy of their investment.
If the property is vacant staging is smart. A vacant home is difficult to photograph for marketing and is less inviting for viewings. Most buyers first scope out homes online for viewing and its difficult to convey a homes character when its empty.
Lower priced properties may forgo the staging process but don’t underestimate the benefits of a good cleaning and decluttering. A staged home in lower priced market may help you stand out among the competition and reap a higher price.
Most important rooms to stage
It is not necessary to stage an entire home. You can simplify the whole process by staging key rooms in your home. The key rooms are the ones you use every day or a room in your home that sets your home apart from other homes.
According to NAR the most often staged room is the living room which is staged 90% of the time. 82% of buyer’s agents cited the living room as the most important room to their buyers. Next the master bedroom and the kitchen are commonly staged. While a kitchen stage is done 80% of the time 78% of buyers found the master bedroom to be more important.
In conclusion, looking at the statistics proves that staging is a powerful tool when selling your home.
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Roy Thomas SRES® (Senior’s Real Estate Specialist) is a REALTOR® with Sutton Group Professional Realty. Since 1991, Roy specializes in helping retirees with their later in life real estate transactions. Call Roy at 902-497-3031 or contact Roy here