The real estate market has rebounded significantly so you may be thinking it’s time for you to sell. Unfortunately, you are not alone. There are many other Americans who have had houses on the market for quite some time and are ready for their home to sell too. The question is – how do you make your home stand apart from the competition? The answer? Staging. When done correctly, it is the difference between your home selling….or sitting.
What is Home Staging?
Barb Schwarz, president of the IAHSP (International Association of Home Staging Professionals), says home staging is ?the preparation of the home for sale so that buyers can mentally move in.? The goal of staging your home is making it look attractive and appealing to potential buyers.
Top Four Reasons to Stage Your Home
- You will make more money. A survey done by Coldwell Banker Real Estate Corporation found that staged homes not only sold for more than 6% above the asking price, but also that they spent less than half the time on the market than non-staged homes
- Your home will sell quicker. A survey by The National Association of Realtors (NAR) found that home prices drop the longer they stay on the market.
- You will recoup your investment. The NAR survey above also found that the amount spent on staging is only between 1%-3% of the property’s asking price
- Online photos stand out. The same NAR survey also found that 90% of potential home buyers research homes online first. Making your home as attractive as possible (via staging) will make your home more attractive through online photos.
Does Staging Work?
A study by RESA (The Real Estate Staging Association) in 2011 completed numerous analyses of if their efforts staging homes really paid off for homeowners. The conclusion – “on average, staging effectively sells a home faster than a non-staged home”.
The study took 174 unstaged households that were on the market for approximately 156 days before the sellers agreed to have their home staged for sale. Once the staging was completed and the home was relisted, they sold in an average of 42 days (total average days on the market 198). That’s 73% less time on the market once staged!
In another study, 410 homes were staged before they went up for sale. These homes also sold in an average of 42 days. That’s 79% faster than homes staged after being listed!
Is the Cost Worth It?
Back to the RESA study mentioned above, the average home is on the market for 5-1/2 months. During that time, the seller is responsible for any expenses as well as the mortgage for those 6 months. Take a look at this example.
- The average staged home is on the market for four months. If their monthly mortgage (without utilities) is $1,601, then the 4-month total cost to list a staged home is $4,244.
- The average unstaged home stays on the market for 6 months. If their monthly mortgage (without utilities) is $1,601, then the 6-month total cost to list an unstaged home is $6,366.
- The savings in mortgage payments alone staging a home before listing it: $2,122!
5 Tips to Staging Like a Pro
- Color: Choose warm and soothing colors for the interior of your home. Not only are they more attractive to the eye, but lighter colors help potential buyers imagine themselves and their items in your home.
- Decluttering & Depersonalization: Make sure you remove family photos and other personal items from sight. Buyers are then able to picture themselves in your home instead of imagining your family in the home.
- Maintenance: Complete any of those unfinished home improvement projects and deep clean throughout your home – especially focused on the kitchen and bathrooms.
- Emotional Cues: Add flowers and candles (clean and lightly scented) to help buyers envision their new life in your home. Adding emotional cues help buyers connect with your house.
- Furniture Placement: Minimalize your furniture to make the space feel bigger and showcase the potential function of each room. Highlight any architectural features such as fireplace.
Who Should I Choose To Stage and Sell MY Home?
Why not choose the very best? If you find selling your house faster and for more sounds like a great idea, then talk to Lynda Miller first.?Find out why Linda?was selected as one of Orlando?s Top 100 Realtors by Orlando Magazine for 2017. With over 20 years of experience in the Orlando real estate market, Lynda?s clients all say it best: Lynda sold their homes faster and for more money than they had anticipated. Let Lynda help you sell your home quicker and for more, as she?s done for so many other satisfied home owners. If you?ve decided to place your Central Florida home or house on the market, we urge you to call Lynda Miller today at (407) 620-2924 or contact her Online now.?There is a difference in Central Florida?s realtors and Lynda truly is a Real Estate All-Star Agent!