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When selling a home, most people want to get the best possible price for their property, but they often overlook the benefits of staging. Staging involves making your home look its best by utilizing furniture, adding décor, and making other small changes. While it may seem like an unnecessary expense, the return on investment (ROI) for staging your home can be significant. So, if you're considering selling your home, it's important to understand the ROI which can help you make an informed decision about whether or not to invest in staging.
The primary benefit of staging your home is that it can help you sell your property faster. A well-staged home will attract more buyers, and buyers are more likely to make an offer on a home that looks great. According to the National Association of Realtors (NAR), staged homes spend an average of 23 days on the market compared to non-staged homes, which spend an average of 40 days. This means that you will spend less time with your home on the market, reducing expenses such as existing mortgage payments, property taxes, insurance, utilities, and maintenance. Use the slider to compare the before and after photos of this Lake Forest home. Move the dot left to see the "before" photo and move it right to see the "after" photo.
Another significant advantage of staging is that it can help you get multiple offers to choose from. When more than one buyer is interested in your home, you can choose the offer with the best terms for you, such as financing, closing timeline, and other conditions. Multiple offers can also drive up the final sale price, resulting in a higher ROI for your home. According to NAR, 44% of buyers' agents stated that staging a home increased the dollar value offered by 1% to 20% compared to similar homes that were not staged.
Many people believe that staging is expensive, but the reality is that it rarely exceeds $5,000 for a multi-month staging agreement, and most projects are under $3,000. The cost of home staging can vary depending on a variety of factors such as the size of the home, the condition of the property, and the level of staging required.Compared to the advantages gained by staging your home, this is a small cost. Staging your home does not have to be a complicated or expensive process. Using an experienced home stager ensures you will receive a well thought and executed design plan for your home. Depending on availability, a home can be staged with less than a week's notice and is typically completed in a couple hours. If you are planning to sell your home, consider staging it to get the most out of your investment. If you're a real estate agent, you may be wondering how to sell this concept to your clients. In a previous blog post, we discussed how real estate agents can sell the benefits of home staging to their clients. Ashley StoutOwner & Staging Consultant at Sizzle Home Staging
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Statistics show that staging can significantly decrease the time a home spends on the market and increase the final sale price. Staging creates a more inviting and attractive atmosphere that helps potential buyers envision themselves living in the home. Here are some tactics that you can use to sell staging to your clients. Make staging part of the selling process.Don't treat staging as an afterthought. Integrate it into the process from the beginning. At the initial listing appointment, start a discussion with your clients about staging and the value it can bring to the selling process. Consider bringing a quote/proposal from a professional staging partner to provide your clients with a clear understanding of the costs and differentiate yourself from other real estate agents bidding for the same listing.  Contemporary living room and dining room staged by Sizzle Home in Chicago with classic design elements and a white, gray, and blue color scheme. Highlight the emotional impact of staging.Staging is not just about making a home look pretty; it's about creating an emotional connection with potential buyers when they walk in the home. By staging, you can help buyers imagine themselves living in the space and create a sense of urgency to make an offer. Discuss the benefits and ROI.Arm yourself with some data. According to a survey by the National Association of Realtors (NAR), over half of sellers' agents believe that staging reduces the time a home spends on the market. In addition, 82% of buyers' agents agree that staging makes it easier for potential buyers to envision themselves living in the home. Staging can also increase the dollar value offered by buyers, as reported by 53% of sellers' agents and 48% of buyers' agents for comparable homes. By presenting these benefits, you can help your clients see why staging is a wise investment. Although staging requires an upfront investment, it can result in a significant return on investment (ROI) for your clients - through an increased sale price and mitigated carrying costs of the property (e.g., mortgage, taxes, utilities, insurance). As the NAR reports, the median ROI of staging is 10%. This potential ROI demonstrates that staging is not simply an expense, but a smart investment in their home's sale. Tell a staging success story.Using a first hand or even second hand story can be a more powerful tool than statistics and data alone. For instance, you might share an example such as, "a similar home in the neighborhood sat on the market, unoccupied, and without furnishings for 90 days. However, after being staged, it sold within the first week of showings." By providing such a story, you can help your clients better understand how staging can work for their own home. Consider payment options.Staging is typically paid for by sellers and coordinated with professional stagers. However, some sellers may object to the upfront cost of staging. To address this concern, you can present financing options that your brokerage provides for staging installations. For instance, Compass Concierge and Coldwell Banker's RealVitalize partnership with Angi are examples of staging financing options offered by brokerages. As a real estate agent, you can also ease these worries by offering to pay for a portion or all of the staging costs. If you choose to take this approach, it's important to have a discussion with the seller about reimbursement for this investment at closing. By taking these steps, you can differentiate yourself and your listing from the competition, help your clients to understand the value of staging, and set their home up for success on the market. Phil StoutOwner & Staging Consultant at Sizzle Home Staging |
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