Home staging can boost sale potential
Although market conditions are contributing to higher prices and less market time, a home that is well taken care of and is appealing to the eye sells quicker and for more money than one that is not. According to the National Association of Realtors (NAR), home staging can be a vital tool for sellers to use in order to ensure buyers say yes to your home over another.
WHAT IS HOME STAGING?
Have you ever looked at a picture or video of property that interested you and wondered why the previous owner left their furniture behind? You have witnessed one instance of home staging, or the preparation of a residence for sale in the real estate market. The purpose of home staging is to “set the stage” for a potential buyer by redecorating, rearranging furniture and cleaning the house to showcase its best features.
According to NAR, “Staging a home helps consumers see the full potential of a given space or property,” Jessica Lautz, NAR’s vice president of demographics and behavioral insights, said. “It features the home in its best light and helps would-be buyers envision its various possibilities.” In short, sellers stage the property with furniture that is not included with the house so buyers can better visualize the property as a future home.”
DOES IT MAKE A DIFFERENCE?
NAR recently published a study that found home staging can make a difference in how quickly a property will sell. Twenty-three percent of agents stated about 1 to 5 percent increase on offers while 18 percent of sellers’ agents said home staging increased the dollar value of a residence between 6 and 10 percent.
In addition to a potentially higher offer, it can also minimize the amount of time your property will spend on the market. NAR states, “Moreover, 31 percent said that home staging greatly decreased the amount of time a home spent on the market.” Generally speaking, home staging can impact the rate and price for which your home sells.
Sellers should consider home staging to keep up with the vast number of prospective buyers in the market. Buyers’ agents are now utilizing tools such as virtual walk-throughs, videos, and images to show prospective buyers what the property has to offer — and home staging makes just as much of a difference as in-person walk-throughs. To get started in the home staging process, ask you Realtor for recommendations for a professional home stager. For more information about how home staging can impact selling properties, visit https://www.nar.realtor/newsroom/nar-finds-home-staging-helps-buyers-visu alize-homes-sell-faster.
Rich Cosgrove is the 2021 president of Stark Trumbull Area Realtors, which serves Stark, Carroll and Trumbull counties.