Updated: Jul 5
First of all, what is home staging and why is it important?
Home staging is the art of preparing a home for sale with the goal of making it more appealing to potential buyers. It involves making adjustments and enhancing the overall appearance and ambiance of the space.
When it comes to the real estate industry, the importance of home staging cannot be overstated. In fact, it's become an essential component of the selling process. Not only can it increase the chances of a successful sale, but it can also lead to higher offers, shorter time on the market, and a competitive edge in the industry. We believe that home staging is a powerful tool that can help transform a property into a warm and welcoming space that buyers can envision themselves living in.
There are several compelling reasons why a realtor should consider using home staging to help sell their listings, read on to learn more!
1. Increased Property Value
Home staging is a powerful tool that can increase the perceived value of a property, making it more desirable to potential buyers. By carefully arranging furniture, adding tasteful décor, and creating a warm and inviting atmosphere, home stagers can help buyers envision themselves living in the space.
In fact, studies have shown that staged homes spend less time on the market and sell for a higher price than their unstaged counterparts. According to the National Association of Realtors, 83% of buyer's agents agree that home staging makes it easier for buyers to visualize the property as their future home, and 22% of sellers' agents reported that staging a home increased the selling price by 1-5%.
These statistics leave little doubt that home staging is a smart investment for anyone looking to maximize the value of their property.
2. Faster Home Sales
Home staging has proven to be a valuable strategy for those looking to sell their homes quickly. By expertly preparing a home for sale through strategic furniture placement, lighting, and decor, home staging can make a significant impact on a potential buyer's first impression. Not only does it help potential buyers envision themselves living in the space, but a well-staged home can also highlight a home's best features – making it more attractive and appealing to a wider range of buyers.
The end result is often faster home sales. In fact, the National Association of Realtors says that, "a staged home spends 73% less time on the market than a non-staged home."
Just recently, we had the pleasure of staging a condo in Burian, Washington, and the results were astonishing. This beautifully designed space went to contract in only 3 days! The power of a staged home is not to be underestimated. By creating an inviting atmosphere, not only does it spark interest, but it also creates a feeling of home.
(Burian, Washington Condo)
3. Competitive Advantage
Home staging has become increasingly popular in the real estate industry, and for good reason. By showcasing a home's best features and creating an appealing atmosphere, real estate agents who utilize home staging can gain a competitive edge over other agents. In today's market, buyers are drawn to move-in ready homes that are visually appealing and well-maintained.
Home staging helps to create this environment and as a result, can increase a home's perceived value and appeal to potential buyers. Situations where home staging can make a significant difference include vacant or cluttered homes, outdated or poorly presented properties, and homes that have been on the market for an extended period of time. By investing in home staging, real estate agents can set themselves apart from the competition and ultimately increase their chances of making a successful sale.
"96% of realtors believe that home staging positively influences a buyer’s decision." - National Association of Realtors
4. Better Online Presence
As the saying goes, you only get one chance to make a First Impression. And this applies to the world of real estate, especially with millennials entering the housing market. According to NAR's data, a staggering 99% of millennial home buyers begin their search online. With this in mind, the importance of staging a photo-ready property cannot be underestimated. In today's digital age, a buyer's first glimpse of a property is often via a computer or smartphone screen. As such, it's crucial to create an appealing and welcoming space that will capture a buyer's attention and encourage them to schedule a showing.
5. Worth the Investment
Investing in staging is a smart move for those looking to sell their property. It's a cost-effective strategy that can yield a higher return on investment than a price reduction. In fact, the Real Estate Staging Association found that an investment of just 1% of the sale price into staging can result in a 5% to 15% increase in the selling price.
This fact was demonstrated by a real estate agent who worked with us on a vacant listing. By using our staging services, they were able to secure an offer that was a whopping 17% over the asking price - a difference of $380,000! And the best part? The property was under contract in just five days after being listed. It's clear that staging can play a crucial role in achieving a successful, lucrative sale.
So why not stage your home? If you skip staging, you may be facing a price reduction that's five to 20 times higher than the cost of staging.
(Jae Koh im3rd Media)
If home staging still seems foreign to you, that's where First Impressions Staging + Design comes in - with over 20 years of experience as a real estate agent, our owner, Kathryn Lenhardt, has a keen eye for what buyers are looking for. But it's not just her expertise in real estate that sets her apart. With her extensive background in home staging and a team with an eye for design, we know how to showcase a property's strengths and make it stand out from the competition.
Whether it's a cozy bungalow or a sprawling mansion, First Impressions has the skills to make any home look its best. With our invaluable experience, we're sure to help sellers not only sell their homes, but sell them for top dollar!