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Can Staging Increase Your Final Sales Price?
If you've been thinking about selling your home, you've probably considered the question of whether you really need staging. After all, it's an extra expense and it requires some effort -- so is it really worth it?
The answer is... maybe. Here are a few things to consider.
What is Staging, Anyway?
In case you're not familiar, staging involves setting up a home so that it looks as appealing as possible to potential buyers. In many cases, this involves bringing in the right kind of furniture, artwork, home decor, and more.
Buying a home is a very emotional decision. In many cases, great staging can help a potential buyer envision what it would be like to live in the home. Once they make this emotional connection, they're more likely to put in an offer.
Since 95% of homebuyers spend at least part of their time searching for homes online, the way your home photographs can also have a huge impact on how quickly it sells. A professional stager will know exactly how to ensure your home is presented in the best possible light both in photographs and in person.
The Link Between Staging and Selling Price
Staging prior to selling your home may help you get a better offer. According to the National Association of Realtors, 25% of agents representing buyers said that home staging increased the home's selling price by up to 5%. Another 12% said staging gave their offers up to a 10% boost.
When talking to agents representing sellers, these numbers were even higher. Twenty-two percent of them attributed staging to a price bump of up to 5%, 17% said that staging brought the price up by up to 10% and another 2% attributed it to a whopping 20% price increase!
How Staging Affects Time on the Market
According to the Real Estate Staging Association (RESA), a home that has not been staged spends an average of 143 days on the market. In contrast, homes that were staged before they were listed stayed on the market for a mere 23 days. If selling your home fast is a priority, it's clear that staging is something you'll definitely want to consider.
Even if you've already listed your home, staging may be worth it. According to the same study, homes that were staged after they were listed sold within 40 days from the time the staging occurred. While these statistics will vary from location to location and home to home, it's still likely that staging will set you up to sell faster.
Should You Stage Your Home?
Despite the statistics above, it should be noted that your particular home may not necessarily need staging. While approximately 28% of real estate agents say that they stage all homes they sell, the rest tend to take it on a case-by-case basis.
Approximately 13% of agents only recommend staging for difficult-to-sell homes while another 7% say that they only recommend staging for luxury homes in high tax brackets.
When selling your home, it's always a good idea to consult with an agent you can trust. This person will help you weigh the pros and cons of staging so you can determine whether it's a good idea for your specific home.
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