Staging is regarded as the act of implementing modifications in a home to offer a visual appeal for the prospective buyer. Creating an eye-catchy home – one where the potential buyer can envision themselves residing – is the most effective investment to sell a house.
A lot of sellers fail to make the most of it because it takes a lot of time and effort. Rest assured that the results are guaranteed. Staging is one of the best marketing strategies to enhance the overall value of your home.
The strategy works in any market, for any type of listed property. The best part is, it is applicable for all sorts of houses including single/family houses, condos, townhouses, and apartments. The agents and sellers who opt for this strategy have a better chance of selling this property with more profit.
At present, the
real estate market is competitive. Thus,
selling your home will require a lot of hard work and dedication. A motivated seller will bring his/her house to the marketing forefront.
Staging the house ensures:
- A competitive edge
- Get the attention of top-notch homebuyers
- A better visual appeal than the existing/competing houses
Staging Vs. Non-Staged
Case Study & Report
Here is where we are going to share the most irreversible proof. A lot of people find it difficult to believe that staging helps in selling one home for more than other, similar homes.
I observed multiple examples of similar houses getting sold at different amounts where one of the two houses got staged. This is the clearest example I could get from the cases of these two listings.
This development comprises 200 equivalent townhouses.
All the townhouses in this neighbourhood comprise three stories, three bathrooms, and three bedrooms. Every unit comes with similar floor planning.
I observed two sales and I got these.
- Townhome A was sold on August 26
- Townhome B (5 doors down) was sold on July 26, but the price was $40,000 less than Townhome A.
I looked around the neighbourhood and I am quite accustomed to these properties.
You will not find any better example of two identical properties getting sold for different prices.
According to the details, these two properties are identical by all possible means.
The lots where these units are constructed are identical in terms of the desirability of the location.
The kitchen plans of both the units had similar cabinets and tile floors.
The units comprised hardwood floors in the living room and carpeted bedrooms.
Every aspect of these two townhouses was similar. I studied the details to find what caused the difference.
Two differences resulted in one home being sold for $40,000 more.
- Townhome A was much more professionally staged and it had a better visually appealing appearance.
- The agent who sold Townhome A took better quality pictures of the house.
These two small actions created a difference of $40,000! The buyers of the Townhome A made a better offer because the house was presented in a much more attractive way.
The Importance of Staging While selling a home
Here are three results to be considered from the surveys by Coldwell Banker and the National Association of Realtors:
- The staged home takes 50% less time on the market than the houses that weren’t staged.
- The staged homes get sold for 6% above the asking price.
- An investment of 1% to 5% on staging will result in a profit of 8% to 10%.
- Homes staged before listing were sold 79% quicker than those staged after listing.
Here is what the buyers want to see
Almost every home buyer is looking to start afresh. If they can see themselves living in a house, it becomes easier to sell. This phenomenon is known as “interior curb appeal”. The eyes are drawn to the welcoming spaces, the lights, and additional features. Every room requires a purpose or particular use. The home needs to feel new so that buyer feels it will be easy to maintain. The objective is to create a simple, clean, and contemporary feeling. Painting the house, updating the fixtures, and eradicating the stained carpets and popcorn ceilings will have an enhancing the chances of getting it sold by 75%.
Neutralize the home for eye appeal
The concept of neutralizing the design of the home is such that it will be in sync with the buyers’ perception so that they can envision themselves residing in this home without any distractions due to the presence of your belongings. During staging, all the distractions are removed so that the buyer can imagine themselves living in the house.
The best way to achieve it is to paint the rooms with neutral colors. You can opt for a wide range of neutral colors starting from soft greys to warm beiges. Painting the interior will bring a new feel to the house and the room looks more spacious. To maintain consistency, try to use similar color in the adjacent rooms. This will offer a seamless look and an uninterrupted flow.
Change the window coverings. It will offer an illusion of more space. If there are dark and bold wall colors, it can reduce the interest of the buyers if they are used in large spaces. However, dark colors can be used efficiently as accent colors.
Focus on the Furniture: Having Less is More
While staging, you can create a visibly inviting space so that the buyer can imagine life in that particular space. Keep things simple and minimalist. The seller’s perception is reflected when the home is listed on the market. It can be a sale distraction. Be prepared for moving. It is a part and parcel that comes with selling a house. If you do it during staging, it will enhance the saleability of the property.
Very soon we shall examine the depersonalization of the home, which is a significant step. At present, however, it is important to know how to create space by reducing the number of furniture.
Buyers get attracted to houses with more light and room. Cramped houses with no space to navigate are a major turn off. The home buyers want to walk through a certain house without any obstacles in their way. Space and storage play a vital role in making or breaking a decision of buying a house. Thus, every area of the house should feel spacious.
Get rid of all the unnecessary furniture from the living areas. You can store it while the house is marketed. The closets, pantries, and storage rooms should not have any clutter. Make sure that they are organized. Eradicate all the things that fill up a lot of space and relegate them with storage units. This will generate interest and display ample space and storage without any overflow of closets.
Placing the furniture correctly is an important way to highlight the house features. Place a group of chairs in the front of a fireplace and it will draw attention. Do not push the furniture close to the walls. Reposition the easy chairs to the floating group spaces.
Make sure that every room is staged to show function. Any empty room with innumerable boxes, possessions, and unwanted articles needs to be transformed into a usable and spacious room. Clean it and try to create an office space with a desk, chair or you can also try to make it a reading room with a recliner and a lamp. Arrange the gym equipment if possible to make it a workout room. Every room should portray a purpose and make sure that the rooms are user-friendly. The buyers need to be able to effortlessly move from one room to another.
Emotional Cues
When every room has a purpose, it is important to create an atmosphere so that the home feels desirable. Include a decorative touch of greenery, flowers, and candles to give the room life. Also, you can add creatively hung wall arts. The bedroom with one bed, one pillow, and a blanket make it look bare and lonely. Add a table with décor and a rocking chair with lap robe will enhance the appeal of the room. Make sure to add elements that are similar in color shape and texture so that there is consistency. The blood colors should be there on the wall art or any other place where you want to draw attention.
There should be a balance between staging and living in your home. You can decorate the home without eradicating the appeal. The primary objective is to make your home look clean and clutter-free. Simple things can make a major impact on the final price of the house. Well-crafted staging is one of such things. You can stage your home in two ways, either you can do it by yourself or you can opt for a professional home stager. If you are looking to hire someone, I can offer recommendations.
Whether to Stay or Not to Stay?
Home sellers ask whether they can stay in their house while it is on the market. There are pros and cons in both of the options that can affect the scale.
If the seller has a trusted real estate professional then the hassle of showing the home is almost eliminated. The agent will respond to the calls, fix appointments, and show the home. If the home is not occupied, chances are, the real estate agent will want to show it to the potential buyers. For instance, if there are 10 houses to show, and 3 of them are occupied, then the real estate agent will prioritize the vacant ones. The reason is, it is easy to show the vacant houses. They won’t have to call you and make an appointment. They can go to the house and use the lockbox.
Also, there is no pressure to maintain the pristine staging presentation while indulging in the daily activities in your own home. As a seller, you won’t have to be under constant pressure to keep the house in impeccable condition. If you are not willing to keep the house in a spotless condition, it is better to vacate the house before putting it up on the market.
There are certain conditions where it is imperative to vacate the house during the selling period, for instance, if the seller’s house is too messy to display while they live there.
Multiple reasons cause a messy home. There are a lot of sellers that live like packrats and it is visible from the presence of piled up boxes everywhere and the rooms remain stuffed with personal belongings scattered everywhere. This is a major obstacle to get a good offer. Some other sellers have children that cause difficulty in multiple ways while maintaining a clean and clear room.
It is also important for potential buyers to know that a vacant house can give the feeling that the seller is “desperate” to sell the house. Often with an empty house, the buyer might feel that the seller is “too motivated”. One comment on the real estate online community stated that the buyer offered an amount of $30000 less than the asking price thinking that the seller was desperate. The asking price was $300000 to which the buyer would have accepted, even they could have paid more, but somehow the buyer read that a vacant home meant the seller was desperate to sell.
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