Is House staging necessary to sell the house faster and for top dollar?

Is House staging necessary to sell the house faster and for top dollar?

Is staging a House necessary to sell?[ Faster & for Top dollar]

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Author & Real Estate Expert : Sonia Balani

Author & Real Estate Expert : Sonia Balani

Property Manager at WB Real Estate and real estate salesperson were Sonia's occupations while she worked in Melbourne Australia. Those experiences, together with her work as a blogger, sparked her interest in writing and real estate from an educational perspective.

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Staging vs Empty House

When you are trying to sell your house, it can be challenging to determine what steps you should take and what preparations you should make before going to market. It’s possible that you’re thinking the walls could use a fresh coat of paint, and that the garden could use some weeding and pruning.

A lot of people are curious about whether or not staging is useful, as well as what the process of staging actually entails. We’ve taken a closer look at staging to help clear the air and make your sale a little bit easier, and we’ve also considered whether or not it’s the best option for your house.

Is there no other way to get it done?

It’s reassuring to know that the answer to this question is not, like the answer to so many others about real estate, “it depends.”   Nope. it’s not really necessary to sell a house however, to sell faster and for top dollar, it’s vital to stag your house.

Well, I always love to offer some stats about anything I say.

Let’s look at the stats:

  • According to 82% of buyers’ agents, staging a home makes it easier for a buyer to see themselves living in the property in the future. (National Association of Realtors) is abbreviated as NAR.
  • 47% of real estate agents claim that home staging had an effect on most buyers’ view of the home. (National Association of Realtors) is abbreviated as NAR.
  • The sale price of staged homes on the market was 25 per cent higher than the sale price of unstaged homes. (Realtor Magazine)
  • In 2019, a home staging project cost an average of $400 in terms of dollars spent. (National Association of Realtors) is abbreviated as NAR.
  • The home office and any guest bedrooms are the two spaces in the house that are least critical to the stage. (Homelight)
  • Comparatively, the amount of time a house spends on the market is reduced by 73% when it has been staged by a professional. (Staging for Professional Events)

Your personal preferences will ultimately determine whatever option you choose, so make sure to keep those in mind. It is necessary to consider both the positive and negative aspects of the situation before making a decision. Both selling a staged house and a non-staged house come with their share of benefits and drawbacks.

Read the information that is provided here, and then have a conversation with your Real Estate Agent to evaluate which option is best for you. There are some real estate markets that are so competitive that it won’t make a difference what you do.

Staging a home might be the one thing that puts you ahead of the competition in a market when buyers have a significant advantage. Is it really necessary it though?

So, is it necessary to stage a house for faster sale?

Staging a house is one of the easiest ways to increase the likelihood of a successful sale at the best potential price and in the shortest amount of time. As said in Realtors way “faster and for TOP dollar”..

Staging a home guarantees that potential buyers see it in the best light possible and can assist highlight what a property can offer even if it does not require a complete renovation. Staging can also help buyers visualise themselves living in the home. 

It is not difficult to comprehend why staging has developed into such an essential component of the buying and selling process given the nature of the business in which it is practised, in which a positive first impression can determine the success or failure of a transaction.

The “bones” of a house, rather than the interior aesthetics, are what prospective buyers are encouraged to concentrate on, and appropriately so. 

This can be difficult to accomplish, however, if the listing images and showings feature the property in a condition in which there is a lot of clutter, dated furniture, and heaps of personal objects that belong to the current owners. 

As a seller, you have a lot to gain by facilitating the buyer’s ability to recognise the full potential of a given area; however, in order to achieve this successfully, you will need to stage the area.

The Benefits and Statistics of Home Staging

The 2019 Profile of Home Staging report that was put together by the National Association of Realtors (NAR) does a very nice job of laying out the ways in which staging a home may be beneficial not only to sellers but also to purchasers. 

There is a lot of valuable information to unpack in there, but before we do so, let’s take a look at some particular data on house staging and the role it plays in the successful sale of a home.

Instead of concentrating on the here and now, staging looks to the future.

The act of designing and residing in a home is inherently personal, and there is a large amount of stylistic and aesthetic diversity in the world today. However, when the house is on the market, the primary audience that the property should cater to is the buyer, not the seller.

The majority of buyers’ agents (83%) believe that staging a home makes it simpler for prospective purchasers to see themselves living in the property in the future. In the meantime, 38% of buyers’ agents reported that buyers were more inclined to go for a showing at a home they saw posted online after the home had been staged.

It makes perfect sense that staging would be a significant aid, given that getting potential buyers through the door is equivalent to fighting half the battle of selling a house. E

ven while it is impossible to know in advance what preferences each individual will have, it is possible to stage a home in such a way that it will have a far wider range of appeal and will be more likely to be appealing to prospective buyers.

Home staging has been shown to cut down on the amount of time a house spends on the market.

Nobody who’s selling anything ever wants to discover oneself with an old listing. 

Because it can become more challenging to sell a home the longer it is on the market, there is a significant financial incentive to sell your home in the shortest amount of time possible. 

28 per cent of sellers’ agents report a minor reduction in the number of days on the market for staged properties, while 25 per cent indicate a significant reduction. 

Only 12% of seller’s agents said that staging a home had no effect on the number of days the home spent on the market.
Staging helps buyers evaluate whether they can imagine themselves in a property and what the potential is for the space, which helps buyers evaluate why staged properties tend to sell faster. 

Staging helps buyers evaluate whether they can envision themselves in a property and what the potential is for the space. And it may be a lot more productive than asking them to do the mental labour alone, especially if it’s something that’s difficult for them.

The staging gives critical spaces priority.

According to the findings of the NAR survey, the relevance of staging a property varies greatly depending on the space in question. 

While 47% of buyers’ agents indicate that their client places a high importance on seeing a staged living room, just 19% of buyers’ agents say the same thing about bathrooms, and only 8% say the same thing about guest bedrooms.

This is excellent news for sellers, many of whom may have few resources available to invest towards a comprehensive staging. When a seller knows what rooms are important (the master bedrooms, kitchens, and dining rooms are the next three after living rooms), they are able to prioritise certain areas when staging their home to make the most impact with the least amount of work. 

This allows them to avoid those rooms that don’t appear to make much of a difference in the sale of their home.

The value of a home can be increased through the use of staging strategy..

If you haven’t been persuaded yet that staging a property is essential, perhaps this will seal the deal for you. 

According to the National Association of Realtors (NAR), one-fourth of buyer’s agents reported to the organisation that staging increased the offering price by one per cent to five per cent in comparison to homes that were not staged. 22% of sellers’ agents agree with this statement, while 17% believe that it actually resulted in an increase of 6% to 10% in the asking price.

It is noteworthy that not a single seller’s agency nor a single buyer’s agent reported that staging had a negative effect on the offered price. 

It stands to reason that staging is worth the effort has given that there is nothing to lose and a significant amount that could be gained. This is probably going to be much more true for homes that have really distinctive or very specialised decor.

 

Buyers are aware of what it is that they want.

A poll conducted by the National Association of Realtors (NAR) on house staging asked real estate agents a variety of questions, one of which was whether or not buyers have a clear notion of the characteristics that should be present in their dream home before they begin their search.

 

A buyer will have an easier time determining whether or not a property lives up to their expectations if the home has been staged. 

On the other hand, if the home has not been staged, a buyer may be unable to imagine the space and what it could become in connection to their vision for the home. 

Forty per cent of respondents claimed that house staging had an effect on most buyers’ opinions of a property, while only six per cent responded that it made no difference in their perceptions of a home.

Home Staging  trends in 2022-2023

Staging your property can have a significant and favourable impact on the amount of time it spends on the market as well as the price at which it is ultimately sold. But because of the global epidemic, home staging design ideas have shifted. Investigate the most recent tendencies if you want to make sure that your home stands out from the crowd.

  • Start with decluttering and Move on to wall painting..If you’re planning on visually decorating your home, you might want to consider painting the walls a colour that photographs well. Paint colours that are neutral or lighter are recommended by 68% of realtors as the ones that show up best in the marketing video.
  • Using the hardware with a simple design will help simplify your kitchen. In the past few years, there has been a rise in the popularity of minimalist trends, therefore you should make sure that your home appliances have smooth forms and clean lines.
  • You can enliven a space with plants, and they may also provide a touch of personality to otherwise unoccupied areas of your home. It’s amazing what a difference a few plants can make.
  • Before purchasing your house, prospective purchasers should be able to visualise themselves living and working there.
  • In addition to physically staging your property, you may want to think about virtually arranging it as well. Because the COVID-19 epidemic is still active in many parts of the country, doing visits online may be a more convenient and secure alternative.

FAQs house staging, the most often asked questions are as follows:

 

What exactly is meant by the term “home staging”?

To provide as much clarity as possible, home staging is the process of preparing your property for the purpose of selling it. 

This process involves making your home appear as though it is occupied by people in order to make it simpler for prospective purchasers to imagine themselves living there.

Who is responsible for the payment for house staging?

A: The good news is that decision lies solely in the hands of the home’s seller. Either the seller, the real estate agent, or the real estate company’s concierge service can pay for it, or the real estate agent and the seller can share the cost. 

Another option is that all three parties can pay for it. In the vast majority of transactions, the costs are not taken into account until the closing stage.

 

How much does it typically cost to stage a home?

A: The typical amount of money spent on home staging in 2019 was $400. (National Association of Realtors) is abbreviated as NAR.

 

How much does it cost to get started in the home staging business?

A: In a nutshell, the answer is that it is dependent. If you already have a client base and are willing to give consulting services, the initial investment needed to launch a home staging firm might be as low as a few thousand dollars. 

On the other hand, if you own a home staging company that offers a full range of services and outfits empty houses with furniture and decorations worthy of a magazine, then you may be on the hook for tens of thousands of dollars.

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