Staging FAQ’s…

Why should I stage?

Right now the number of homes for sale on the market is at a record high. Competition is stiff and buyers have very high expectations.  In the current environment, more and more buyers are expecting your property to be a “model home” and in move-in condition. When the market is soft, your house needs to look its best so that it will sell faster and at a higher price than the competition.  In a strong market a well staged home could easily mean a bidding war where you could make far more than asking price. One thing is for sure: leaving your house in “as is” condition will help sell your competition in any market.  Either way, when you stage, you win.

What is home staging and how does it differ from interior decorating?

With interior decorating, you are designing to the specific tastes and lifestyle of the current homeowner and it usually involves purchasing new furniture, lighting and accessories, etc. Home staging on the other hand, is the art and business of preparing a home for sale and appealing to the masses. It maximizes the home’s best features and strives to neutralize colors and personal or outdated styles to make the home appeal to the widest range of potential home buyers. A Home Stager uses what the owner already has (making purchases where necessary) to emphasize the best features of a property while improving or downplaying the less marketable features.

How much will it cost?

In reality, staging your home shouldn’t cost you a dime. In a 2007 Home Gain Survey of over 2000 Realtors, it was discovered that home staging typically provides a 343% return on investment! Statistics show that staged homes sell more quickly then unstaged homes and the truth is…the cost of staging will be far less than your first price reduction!  An investment in staging can be for a single consultation, a DIY action plan or a few full staging days with furniture rental if necessary. The range could run from a few hundred to a few thousand depending on your needs. The fees also depend upon the size and condition of your home, how much work you are willing to do yourself, and the price point of the property. In addition, for your dollars, you will also get a set of online photos that will stand-out amongst the competition. According to a National Association of Realtors (NAR) profile of buyers, over 84% of people searched for homes online first before deciding to visit. Your photos of beautifully staged rooms will stand out among the competition!

I don’t want to put any more money into a house I am selling.

Staging is an investment; not a cost. You will actually make more money in two ways: your property will sell at a greater value and your property will sell faster which means less money spent in back-end costs, such as mortgage payments, taxes, etc. Not to mention the headaches and stress that goes along with having your home on the market. According to NAR, the average staging investment is between 1 and 3 percent of the home’s asking price, which generates a return of 8 to 10 percent!

Why don’t I just wait and see what happens? I’ll choose staging later if necessary.

You won’t want to wait. A National Association of Realtors survey found that the longer a home stays on the market, the further below list price it drops. Homes that sold in the first 4 weeks averaged 1% more than the list price. Homes that sold in 4 to 12 weeks averaged 5% less then list price; 13 to 24 weeks averaged 6.4% less; and 24 weeks averaged more than 10% less! Your house will sell faster. It’s important to note that the investment in staging your home will be far less costly than your first price reduction.

Why can’t I stage myself? Or why can’t my agent stage the home?

Most home sellers cannot view their house objectively. And they don’t have the buyer’s eyes that a professional home stager will when walking through the home. They have grown accustom to their torn kitchen wallpaper, the faded dining room carpet, that overgrown shrub, etc. The elements of the home that may have annoyed us originally, we no longer notice. Our homes are like our children: we are filled with sentiment about them, so that objectively altering them to fit a buyer’s perspective becomes nearly impossible. If you can’t see objectively, you can’t “package” effectively. Realtor’s may not want to bring up the issue of home staging at the risk of insulting a home owner. But it’s no insult—any home no matter how beautiful it is can benefit from home staging. As for the agent staging the home, most Homeowners would prefer their realtors are out there selling and marketing their property instead of spending time and resources on redecorating their home, shopping for accessories and supervising painters. Choose a staging professional to get your home into its most advantageous condition for showing.

Who pays for the staging – the owner or the realtor?

The payment could be made by either the home owner or the agent. Some agents offer staging as part of their listing package to their clients or they pay up front and get reimbursed at point of sale. More often the homeowner will make the investment.

Can’t most buyers see past someone else’s decor?

Actually no. Only 10% of buyers or renters can visualize the potential of a home. Most buyers cannot visualize what a house could look like; they only see the house how it is now. When a house looks and feels like home, buyers will look past their list of “must haves”. They may be willing to give up an updated kitchen because staging has transformed your house into their dream home and they can immediately see themselves living there.

What if I have a vacant home to sell?

A vacant home is a prime candidate for staging. Vacant homes tend to sit on the market even longer then poorly furnished homes. They can appear to be cold and sterile. And When A Room Is Kept Empty, Buyers Focus On all the Negative Details. That’s why builders always feature a furnished model.