Home Staging is a proven, effective marketing technique used to attract target buyers for a faster, more profitable sale. By transforming your home through decluttering, depersonalization, strategic furniture arrangement, and styling, it enables buyers to envision the lifestyle they are in search of. Home staging creates an environment that speaks to a buyer’s psychology, giving your home an advantage in Today's competitive market.
According to the 2019, Profile of Home Staging, by the National Association of Realtors, 58% of sellers’ realtors believe that buyers offer more money for staged homes. The report further elaborates that 29% think they offer 1% to 5% more; 21% place the increase at 6% to 10%; 3% put it as high as 20%). For example, with a listing price of $300,000, according to these estimations, staging could yield an increase in sale price between $3,000 - $15,000.
The Real Estate Staging Association (RESA) in its “Consumers Guide to Real Estate Staging” reports that homes not staged prior to listing sat on the market for an average of 143 days. In contrast, homes that were staged pre-listing, averaged 23 days on the market. Un-staged homes sat, on average, 4 MONTHS longer on the market. Home staging will help you avoid costly price reductions and save months of carrying costs such as mortgage payments, taxes, insurance, and utilities.
Objectivity plays a huge role in how effective staging efforts will be. Your home is not only a financial investment, but an emotional investment, which can cloud the way you see your home. A Home Stager views your home through the eyes of a highly critical buyer. Home staging goes beyond the generic tips you will find online, with recommendations tailored to your home's specific homes needs resulting in that "Wow" factor in which buyers are looking for.
Investing in Home Staging can increase marketability, drive buyer traffic, increase the sale price of a home, and reduce time on market. All of these things save you time and money. As with any investment you are looking for an ROI (return on investment). The National Association of Realtors reports, on average, Home Staging will yield a 1-5% increase in the listing price of the home (this can, in some cases, be as high as a 20% increase). This is a significant ROI for a relatively minor investment in staging.
This strategy often leads to costly price reductions which can be avoided by staging your home prior to listing. First impressions are everything. According to the National Association of Realtors (NAR), report 95% of buyers view homes online. Your home's first impression online is what will get buyers in the door. If your online presence is lackluster, and your home sits on the market, Buyers will inevitably come to the concussion that there is something wrong with a home that is stale, and will not bother to view it in person. From there, you are facing a steady uphill battle.
While some investment is required, Harbor Home Staging can fit any budget with the variety of services we offer. For those looking for staging direction they can implement themselves to increase the marketability of their home, a Staging Consultation & Staging Plan Checklist may be all that is needed. For homes that need a little extra attention a Staging Refinement or Full Staging Service can aid you in transforming your home, ensuring it is market ready.
Typically, any kitchen, bathroom, or master bedroom updates will yield a high rate of return. However, painting is one of the most cost-effective and dramatic ways to update your home. Color plays a huge role in emotion, and emotion is an underestimated factor. Buyers tend to shop with logic yet buy with emotion. Other high impact, often inexpensive, recommendations include modern light fixtures and new cabinet hardware.
In short, no. You have complete control over what you decide to implement based on your budget and timeframe. However, the Staging Plan Checklist created during our Staging Consultation is intended to optimize the marketability of your home. The more items you complete, the better your chances are for faster, more profitable sale.
For occupied homes, we aim to work with the homeowner's current possessions. However, most homes are in need of Accessories and Furnishings to complete the look and ensure maximum return on investment. Our Staging Plan Checklist will include recommendations of key items to purchase that will have the most impact. If using one of our Staging Packages we will bring in items for visual reference of what to purchase and take photographs for your use. We also offer an Accessories & Furnishings Sourcing Service to personally procure these items for you.
Occasionally, occupied homes may be in need of key pieces to complete a furniture arrangement or the addition of contemporary items to bring the home's luxury level on par with the market. In these cases, we offer top quality furniture rentals from a reputable third party-vendors. If you would prefer to invest in pieces to keep, our Accessories & Furnishing Sourcing Service will find the perfect items that you can then use to impress in your next living space.
Studies have shown only 10% of buyers have the capability to envision a space for what it could be and see past a seller's belongings. Home Staging is the psychological advantage of assisting the other 90% in viewing your home as one they can live their lives in. Buyers' expectations are higher than ever as a result of television shows and networks like HGTV, which have highlighted the contemporary designs shoppers expect to see. As a result, buyers tend to negotiate down in price to make up for outdated appearances, that is, if they make an offer at all.