Home staging your property means preparing the house for sale in order to show the best features of the property and attract a lot of potential buyers.
A recent 2021 survey done by the National Association of Realtors, shows that 23% of home sellers’ property agents reported a 1 to 5% increase in dollar value offered by buyers compared to similar but unstaged homes.
There are many reasons why home sellers may or may not choose to stage their house. In certain cases, home staging is not the solution to the current condition of your property. To determine the best strategy for you to sell your house fast and at a high-value price, you need to consult your property agent for advice. This is their forte and in this game, real estate agents know what’s the best move.
Is staging really worth it? Let’s take a look at some of the benefits and ROI’s you can get when you stage your property.
Your Property will sell fast
In cases where properties are staying longer in the market than they should have, home staging is almost always the solution to the problem. Many real estate agents can attest to that. In fact, 31% of property agents reported that staging greatly decreased the amount of time the house was on the market.
Buyers will be able to visualize the property as their future home
An empty room is like a dead room. When a home is staged, buyers will be able to envision how the room would look like with all the furniture in place. A well-designed living room would excite them. The more they would feel at home, the more they would be convinced to buy the property. Staging is all about strategic persuasion in real-estate marketing.
It will increase the value of your property
Aside from attracting buyers, staged homes also increase the amount of profit. According to the 2019 National Association of Realtors report, 25% of property agents who represent buyers say home staging increased offers up to 5% while agents representing sellers put a higher dollar value on home staging. This proves that there is an increase in the dollar value offered by buyers in comparison to similar but non-staged homes.
Roughly 1 in 4 Property Agents stage their units
Staging gives your property an advantage over competitors. When selling a house in a buyer’s market, you should integrate a clear marketing strategy to make your property stand out. Treat your property like a product and position it strategically in front of your market to be as alluring and interesting as possible.
28% of sellers’ agents said they staged all sellers’ homes prior to listing them. 13% noted that they only staged homes that were difficult to sell. What better way then can you make your property stand out other than staging it right? If there are hundreds of properties being staged, that basically means that real estate agents deemed it valuable and worth it. Property agents would know if a house is difficult to sell and in cases like these, the best thing to do is to leverage home staging to get ahead of competitors. We have a whole article that talks about how property agents market your property. Click here to read more.
Online Property Photos attracts a lot of potential buyers
Take note that almost 90% of buyers look for their ideal homes online. A beautifully staged listing is more likely to entice them and get them to inquire more.
Home staging works to your advantage
To stage your home, you need to do a huge amount of cleaning and decluttering which also gives you the advantage to purge all your unnecessary stuff and pack your things ready for the move. Staging also allows you to plan ahead of time so you can make all the essential arrangements and make sure you have not overlooked anything important. Moving out can also be stressful especially for the kids. Make the home styling task a sort of transition process before completely detaching yourself and everyone in the family from your home. It’s like hitting two birds with one stone!
The Investment is worth the return
Statistics show that well-staged homes make more profit. 22 % of seller’s agents reported a 1-5% increase in the dollar value offered by homebuyers to staged properties compared to similar but non-staged homes. On top of that, 17% of respondents, said that staging a property boosted the dollar value of the property by 6-10%.
In Singapore, the median price of landed property is S$3, 850, 000. If the home sells for 6% more than the asking price, the seller will earn an additional S$231,000 in cash, and the property agent would also receive more money on commissions. The 6% gain will more than cover the initial expense for staging the house. It’s a win-win situation for both sides!
What is the takeaway?
Staging is a powerful and important selling strategy that may help your house sell faster and for more money. We have broken down the reasons why staging provides a very high return on investment, making it well worth the cost. On top of that, remember that staging will substantially improve the appearance of your property in online listings, increasing the likelihood that a potential buyer would want to view the property.