While many homes are going under contract in the first few days they’re listed, most real estate professionals would agree that a property is more likely to stand out and receive the highest offers when that home is staged. The right staging can really impact the buyer’s perception and help earn the seller the highest return on investment (ROI).
Staging is really about showcasing a move-in ready home that creates an emotional connection with the buyer. Using décor that is on-trend and inviting – particularly in the common areas like the living room and kitchen – can really make a memorable impression. Staging is really about minimizing the negatives, accentuating the positives, and making the best impression possible. My experience is that staging allows for two things: 1. Buyers to see themselves living there and 2. Envision what is possible for the property.
Some of the most common and important steps for staging a home are decluttering and depersonalizing. Things like removing dated window treatments, strategically arranging furniture to maximize space, and sometimes even adding fresh, neutral wall colors can all make huge impacts. Once emotionally invested, buyers are more likely to commit and sometimes even increase their offers, and they are less likely to change their minds or ask for concessions.
Another huge factor in staging? The photos! As I’ve mentioned in a previous blog about millennials, over 99% of millennial home-buyers start their search online. Even in this hot market, having a photo-ready property can directly influence a buyer’s decision to see a home in person.
Yes, staging is an investment. However, the average investment is about 1% of the sale price, and roughly 75% of sellers saw an ROI of 5-15% over the asking price. Similarly, data shows that staging helps sell homes much faster than the nonstaged competition (in a more normal market). Lastly, the data shows that sellers who do not stage, face a higher likelihood of price reductions.
All this to say, stage your properties. Yes, even in this market.