Attn Realtors: Staged Homes Sell 73% Faster

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Filed under: Tips for Realtors

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When you are trying to facilitate offers on a listing and the sellers are eager and anxious to get their home into escrow, you might want to consider “staging” the home.

A recent study indicated that staged homes actually sell 73% faster than those that are not staged.

What is a staged home?

Since the market is always competitive and sellers are usually looking for ways to gain an edge on the competition, staging is a way to grab buyers’ attention without having to lower your price or invest in expensive home remodels or makeovers.

Thanks to reality TV, many buyers are already familiar with the concept of staging.  Basically, staging a home involves reorganization to improve the “flow” of the home, reducing clutter, and making the home look bigger and brighter.  Having this done professionally can result in a substantial improvements not only when a potential buyer tours the home, but also when they view photos.

Why might staging be critical today?

Most home buyers today begin their home search online.  They visit sites such as Realtor.com or Trulia.com and look for properties that are within their price range and desired location.  What’s one of the first things they do when they find an interesting home online?  They look at the photos.  A staged home with professional photos will typically capture far more intrigue and lead to more showing and more traffic at your next open house.  This is likely the reason why staged homes are selling faster in today’s market.

What’s involved with staging and what does it cost?

If staging isn’t your forte, you can hire a professional to do it for you.  The cost is typically $500-1000.  If the idea is presented well to the sellers, they will understand the value and may be willing to incur the cost.

If you end up doing the staging yourself, you’ll want to assess these few issues:

• Remove clutter from rooms, counter tops, closets, and cupboards.  This will immediately give the appearance of more space.
• Consider a fresh coat of bright paint.  You probably already know what wonders new paint can provide.
• Replace dirty, worn-out carpet.  Rather than offering a carpet allowance, consider replacing bad carpet. Even if low grade carpet is used, the improvement is usually drastic.
• Look at items such as door knobs, door stops and electrical outlet covers.  Buyers notice these things if they are broken and they are easy and inexpensive to replace.
• Consider re-caulking bathrooms or kitchens if needed.  Fresh white caulk will brighten the surfaces.

If I can be of any assistance or answer any questions for you, either mortgage related or non-mortgage related, feel free to contact me directly via phone or email.

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