Listing Agents: Why Being Lazy About Staging Can Crush Your Profits
By Maggie Wilson @ Real Estate Daily
March 6, 2018

It’s currently an epic sellers’ market out there. It seems like any house is quickly being snatched for list price or higher. This might make you think that you can skimp on best practices for home selling, including staging the home. But, this would be a very big mistake. Why is that?

While staging isn’t as necessary for moving a home today, it is necessary for selling it quickly and at a high price. The property photos you put online are what will bring in interested buyers. Beautifully staged pictures will make it easier to get a large pool of qualified buyers to draw from. It can also be effective for showcasing potential uses for irregular spaces and it can increase the final sale price by 10% compared to unstaged home. Staging may be an investment, but it’s definitely worth it.

Key Takeaways

  • New listings get three times more views during their first week on the market than any other time.
  • Staging costs should be equal to roughly 1% of the total cost of the home.
  • Staged homes are usually sold at 10-20% over the listing price.

Excerpt

A seller recently asked me this question: In this market, do I really need to pay to stage my home?

The answer is…yes! Redfin listing specialists recommend staging for two reasons: The first is that a staged home results in better photos. Photos are your home’s currency online, and the more appealing they are, the more views your listing will receive. A new listing gets three times more views in its first week on the market than at any time after that, so first impressions really matter. This is why we recommend launching your home fully staged, rather than waiting to “see how it goes” and investing in staging if the home doesn’t sell.

Justin Riordan, founder of Spade and Archer, a staging firm based in Seattle, Portland and Palm Springs, says, “Staging is visual merchandising for your house so that you can sell it for more money.” Another way to look at it: if you were headed on a job interview or a first date, you’d make sure your hair was brushed and your outfit was just right, wouldn’t you? The same reasoning applies here.

Secondly, staging allows buyers to understand how they would actually live in the home. The typical person shopping for a home isn’t a trained designer and won’t naturally envision how an empty space could function.

Staging can also help overcome challenges such as odd angles or demonstrate how creating “zones” within a small space make it more functional than it may appear when vacant.

View the original article at the Redfin Blog