Getting your home ready for sale can be a costly endeavor - and staging your home can feel like an added unnecessary expense. Some sellers struggle to see the value in staging, but the numbers don’t lie. Staging your home is the leading factor in helping get your home sold for top dollar and here are the stats to prove it!
According to the National Association of Realtors, 82% of buyers' agents said staging helped their clients visualize the property as their home. Staging is all about creating a warm and welcoming environment that allows buyers to imagine themselves living in the home. Staging also accentuates the best parts of a property while minimizing the least favorable parts. This comes in handy quite a bit, knowing that more than 25% of buyers are more willing to overlook property faults if a home is staged, according to NAR's 2021 Profile of Home Staging.
Here are a few more facts: 99% of buyers begin their search online these days, so you have one chance to make a first impression and dazzle buyers with an immaculately staged home. Even in a buyer’s market, a staged home can mean the difference between wanting to see your property in person to potentially make an offer, and just scrolling past it.
Staging is an investment that helps maximize the rate of return on the sale of the property, and usually costs less than the first price reduction. With an average investment of 1% of the sale price into staging, about 75% of sellers saw an ROI of 5% to 15% over asking price, according to data from the Real Estate Staging Association (RESA). That is huge!
A recent survey from the International Association of Home Staging Professionals (IAHSP) shows that staging helps sell homes 3-30 times faster than the unstaged competition. Additionally, staging can help increase the sale price by up to 20% on average.
For sellers who decide not to stage, the IAHSP survey also shows that the average price reduction on a home was 5-20 times more than what the staging investment would have been.
So, if you’re a seller and you’re wondering where to pinch pennies, let me tell you, it is in your best interest to put a little bit of money up front into staging, because the numbers don’t lie! And when you are accepting an excellent offer, potentially over your asking price, you’ll know who to thank!
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