Why is home staging such a huge deal?
Home staging is not considered necessary by many real estate brokers. Many of them believe that home staging is only an additional expense that will have no impact on the sale of their property. However, why are so many real estate brokers rushing to stage their houses before listing them? PropertyLim Brothers, ERA, JNA, NowHome, and other well-known real estate firms stage practically all of their listings before putting them on the market. What gives? Do these real estate agents just wish to spend their money on something that would enhance the appearance of their properties? Or does home staging benefit them?
Here are seven things top-performing real estate agents know about house staging that you didn’t know.
1. Home staging can increase your property’s value
Consider the numbers: the typical cost of home staging is less than 1% of the asking price, but it may provide an 8-10% return on investment. Most property agents assume that home staging is way out of their budget or it’s too much effort for something that wouldn’t yield returns. Well, the statistics say otherwise. 23% of sellers’ agents reported a 1-5% increase in the cash value offered by homebuyers compared to similar but non-staged homes.
2. Home staging helps to sell your house faster
We have staged properties that have been lying dormant in the market for over 6 months only to sell them 1 week after staging. Some real estate agents failed to realize that staging is also a form of marketing. When you’re selling something, how you present and showcase the best features of your product to potential buyers is vital.
Even if homebuyers have been planning to become a homeowner for months, they may still experience sentimental emotions when viewing a home. They want to be able to feel a connection the moment they step into the property. That is where home staging comes in. As a property agent representing the seller, you should be able to channel that connection through home staging and sell the property at first viewing.
3. Home staging can increase leads
One of the things that can influence whether a potential buyer will scroll past your listing or add it to their must-see list is how your property is presented on the internet. You’d want to capture great photographs of the property’s interior to catch the attention of homebuyers and the best way to do that is to stage the house first. After you do home staging, you can then take photos, post them on social media, advertise them, and get hundreds or even thousands of leads from interested buyers.
4. Top-performing real estate agents engage in home staging
Competition is tough in the real estate market. Top-performing real estate agents know this and that is why they’re leveraging on home staging to market their properties and sell them quickly. Big names in the industry like JNA, NowHome, ERA, Propnex, and PropertyLim Brothers are all doing home staging. If you want to compete with them, you also have to do what they’re doing and do it even better. Learn from the pros and follow their strategy.
This statistic is according to the 2021 Profile of Home Staging report by the National Association of Realtors (NAR). As we previously mentioned in the above pointers, buying a home is a huge milestone in someone’s life and more often than not, emotions can influence the buying decisions of homebuyers.
Agents who are already veterans in the industry know exactly how to capture the emotions of buyers the moment they visit the property. They make sure everything is well-prepped and beautifully staged. From the furniture to the decorations, and the lighting design, they make sure that everything looks inviting and homely to families. They leave this task to professional home stagers like us who have already staged thousands of properties and have helped over 900 property agents close deals.
6. The living room is the most common room to stage
Strategic real estate agents know that not all rooms in the house need staging. To be able to save money, they only stage the most important rooms in the house that homebuyers would typically view. These are the living area, kitchen, master bedroom, and dining room. Find out the strengths and weaknesses of your property and use staging to highlight the good features.
7. Home staging matters even in a seller’s market.
Many properties receive offers the first week they’re posted. However, real estate agents cannot guarantee sellers that their house will stand out and earn the best bids unless the homebuyer can really feel a connection with the property. That’s where staging comes into play! So, even in a seller’s market, staging a home is still a good strategy to close a top-dollar deal.
We have broken down the reasons why staging provides a very high return on investment, making it well worth the cost. Read more about it here: Why Staging Your Property is Worth the Investment
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