Real estate agents and brokers who understand the value of home staging are helping clients get a higher selling price. Although many homeowners make a concerted effort to make their homes presentable before they are shown to potential buyers, the property may not stand out from other available properties for sale in the local market.
Home staging shows off the best qualities and features of a home making it easier for buyers to visualize living in the property. This can create that emotional connection which increases the likelihood that it is not just the property they want, but one in which they must have – and are even willing to pay a higher price for it. According to a recent report by the National Association of Realtors®, an overwhelming majority of real estate agents indicated that a staged home impacts buyer’s perception with nearly half indicating that it positively impacts the home’s value.
Is home staging worth the cost? The average cost spent on home staging is $675, but it can offer a significant return on investment. A HomeGain survey revealed that a staged home increased the selling price by $1,780, on average. Therefore, it can be very advantageous.
There are three opportunities to make a positive first impression with home staging. First, a staged home creates a more impressive online presentation. This helps to increase the number of property showings to prospective buyers. Second, a home’s favorable curb appeal encourages buyers to walk through the front door. Without it work spent on staging the interior may go unnoticed. Third, a clean, organized and tasteful interior can motivate buyers to make an offer. Strike out in any of these areas and it could take a bit longer for a property to sell.
While it may not be necessary for real estate agents and brokers to recommend staging for every seller they work with, it can be a very effective selling tool. Realtors® will need to use their best judgment weighing the cost and potential return for both buyer and seller in determining whether home staging will be beneficial for their clients.