The sharp increase in interest rates has slowed the housing market down across the U.S. Homeowners planning to sell in a slower spring market need every advantage they can get to stay competitive. Staging is one of those advantages.
Staged Homes Sell Faster and for More Money
Staging is especially important in a slower market to avoid price reductions. Homes that sit on the market for months without selling or start to come down in price send a red flag to buyers that something might be wrong with the property or that the property was overpriced to begin with.
Staging a home usually costs less than the first price reduction. According to the International Association of Home Staging Professionals, staging can help increase the sales price by up to 20% on average. IAHSP also states the average price reduction is 5 to 20 times more costly than what the staging investment would have been. According to the same survey by IAHSP, staging helps sell homes 3 to 30 times faster than the nonstaged competition. Similar results were reported by Realtor.com, where staged homes sell 88% faster and for 20% more than non-staged homes.
With an average investment of 1% of the sales price, approximately 75% of sellers saw an ROI (return on investment) of 5-15% over the asking price, according to RESA (the Real Estate Staging Association).
A Staged Home is More Appealing to Buyers
A professionally staged home can make a powerful impact on a buyer. According to the National Association of Realtors, 83% of buyer’s agents said staging a home made it easier for a buyer to visualize the property as a future home. As trained designers we know how to use wall color, lighting, and furniture to make a room look bigger and more inviting. There is this misconception that empty spaces make a home look bigger when in fact unless the home has a huge amount of square footage this is not the case.
Staging a home creates a lifestyle for the buyer. A visual of what their life could be like in this home. It gives them ideas of how each room could be used, how their furniture could fit into the home by offering scale, and it highlights the architectural details of the home.
The majority of buyers today want a home that is move in ready. Rooms staged with the right layout, furniture, and accessories connect with buyers on an emotional level and when a buyer falls in love with your home, you have an excellent chance of getting it sold.
Secure Your Investment by Staging Before You Sell
Your home is likely your most valuable asset. It’s time to start treating it like one. Don’t risk losing $5k - $10k on a price reduction when an upfront investment could net you up to 15% over your asking price.
Buyer’s agents indicate 38% of buyers were more willing to walk through a staged home they saw online and 37% were positively impacted by the home’s value if it was decorated to the buyer’s taste. These values increased to 41% and 39% in NAR’s 2021 Profile of Home Staging, where more than a quarter of respondents were willing to overlook other property defaults on homes with professional staging.
If you live in the Central Iowa Real Estate Market, Staging 2 Sell It is here to help. Start the process of selling your home with an advantage – get a quote for a staging service today.