The concept of home staging is one that home sellers are aware of, but don’t necessarily dig into, believing that staging is too expensive or not intended for a property like their own. Home buyers consider home staging even less than sellers because they think it doesn't impact their purchase at all.
How Home Buyers Benefit from Home Staging: "Move-In Ready"
The term "move-in ready" is a multi-layered concept. Not only does it imply no major renovations of the house are necessary, but it also suggests buyers may simply unpack and enjoy. For buyers who may have peaked financially during the sale process, the prospect of a home that was staged offers the perk of move-in ready condition without the extra costs beyond the bottom line of the sales contract.
A thorough staging process tackles many of the small projects a new owner frequently tries to avoid or waives off until a more convenient time. From nuisance items such as a leaky faucets to decorating overhauls that include the addition of neutral paint throughout and new hardwood flooring, many handyman and DIY projects are completed during the staging process, saving the buyer time and aggravation.
Buyers who have a difficult timeline and prefer to avoid the back and forth of concession negotiations or who’d rather pay for updates as part of the sale are more willing to offer asking price, and more. The term move-in ready also takes into account the outside curb appeal. The appearance of a well maintained home extends to buyers some peace of mind regarding the proper care of the house in the past.
Remember, a buyer’s agent is working hard to meet the needs of their client. The National Association of Realtors’ 2019 Home Staging Profile notes that 83 percent of buyers’ agents reported their clients were more inclined to visualize a house for sale as their own if it was staged. The profile also verifies buyers’ agents are more likely to request showings of staged homes vs. non-staged homes.
It’s not uncommon for a buyer to be intimidated by a vacant home. The thought of furnishing a new, empty house is overwhelming. Carefully placing furniture to achieve the perfect traffic flow or accenting the best features of the house isn’t a skill that comes naturally to the majority of home shoppers.
Professional staging empty spaces to attract buyers who prefer the guidance. Staging simply showcases the potential the house already has. This concept also holds true for a home that is furnished. Skilled stagers show off the best features with existing furniture and decor. Something as simple as highlighting a fireplace could seal the deal for a buyer.
How Home Sellers Benefit from Home Staging
It’s no secret that home sellers hope to sell their property as quickly as possible, and at the highest price point. Home Staging proves time and time again to be one of the most efficient strategies to include in an overall marketing campaign to sell homes faster and for more money.
For sellers unfamiliar with the benefits of home staging, the investment may not seem affordable. Consider this statistics from NAR’s Profile of Home Stagers 2019; when it comes to the return on investment for home staging, “when staging a home, 22% of sellers’ agents reported an increase of 1-5% of the dollar value offered by buyers, in comparison to similar homes. 17% of respondents stated that staging a home increased the dollar value of the home between 6-10%.
Appearance Is Everything
Home staging is a powerful technique that truly benefits both the seller and buyer. When done correctly, Home Staging provides an extra boost of marketing power for sellers as well as multiple convenience factors for home buyers.