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The Statistics Behind Why Staged Homes Sell Faster

October 02 2018
by Leisl Bailey

The Statistics Behind Why Staged Homes Sell Faster

Do staged homes sell better than empty or unstaged homes?

Yes! And we have the statistics to prove it! When trying to sell your home, presentation is everything. Staging is a necessary step in the property transfer process that can accelerate your sale and get you the best price possible.

And the best part?

It doesn’t have to break the bank.

Statistics on Why Staged Homes Sell Better

Most Realtors who represent buyers say that their clients are more willing to offer a HIGHER opening bid on a staged home over one that is very similar, but not staged or even empty.

Why is this? Over 81% of potential homebuyers in the States have reported that when viewing a staged house, it is substantially easier to imagine the property as their future home.

Of those asked, nearly 45% also mentioned that it impacts their perception of a particular home in a highly positive way if it seems like the current homeowner has the same taste in decorations and furnishing as they do.

Why do staged home sell better?

Because staging your home for a sale ensures that its best foot is forward. Still not convinced that you need to stage your home? Think of it this way:

Buyers are typically willing to offer at least 1% and sometimes up to 5% MORE of the dollar value of staged homes versus an empty or non-staged home.

What’s more, Coldwell Banker Real Estate Corporation conducted a recent survey that found that staged homes sell for more than 6% above the asking price!

6%! If you list your home at $150,000, that would be $9,000 extra straight into your pocket!

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Staging Helps Your Home Stand Out from the Rest

When properly staged, your home can stand out from the rest and create a lasting impression on buyers. You can easily get them hooked and interested in making a competitive offer on your property straight away.

The same survey by Coldwell Banker Real Estate Corporation discovered that homes that are staged well spend less than half of the time on the market compared to empty or unstaged homes.

Less than half!

Selling a home quickly is lucrative because research from the National Association of Realtors (NAR) indicates that the longer a property sits on the market, the lower its final sales price tends to be.

The same research indicates that by staging a home that is stagnant on the market, it is then sold up to 73% faster than if it was left alone.

Why Should You Stage Your Home?

Because it creates an immediate emotional connection between the property and potential buyers – something that tends to encourage people to be more competitive when making an offer.

Staging your home makes it more welcoming, as potential buyers can immediately begin to see what their life could be like if they called your house home.

Staging also gives each room a sense of scale. For example, during an open house, guests might have a hard time visualizing what their king size bed will look like in the master bedroom. If there is already furniture in the room, it is easier for a guest to picture what theirs might look like.

Staging also gives those viewing the home the opportunity to understand how to utilize “awkward spots” around the house, like a small loft or an odd corner. If you’ve already created a nice sitting area or craft storage space, it will be easier for buyers to think of how they might use the space.

The Average Cost of Staging a Home

Staging a home doesn’t have to be expensive! Depending on the fair market value of your home and your budget, you could easily begin staging your home for only $1,000, although some homeowners can invest upwards of $10,000 into creating the perfect atmosphere.

Here are a few easy ways to get started:

Declutter

Clutter is the death of a high offer. Make sure that your rooms are free from knick-knacks, papers, and visible storage of things like clothing, dishes, or cleaning supplies. Everything should have a place, away and out of sight.

Get Rid of the Storage Room

If you have any sort of “catch all” room in your house, it’s a good idea to convert it to something practical before you begin showing your house.

This can also be a part of the decluttering process – but the spare bedroom that has been used as storage should be converted back to a spare bedroom, or an office, or a craft studio.

Neutralize It

A big part of staging your home is making sure that it doesn’t look like you live there. Your home should look like a showroom at a furniture store or a model home. You want to make sure that all your personal belongings like your clothing, family photos , and pet items are out of sight.

It’s also a good idea to stick with neutral wall colors and classic furniture styles, that you can easily rent while you show your home.

Clean It Up the Curb Appeal

Sprucing up the outside of your home is often the easiest part of staging it. You can powerwash the pavement, weed the flowerbeds and cover them with fresh mulch, and be sure that the windows are sparkling clean.

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When Should You Not Stage a Home?

There is not really a situation in which deciding not to stage your home is a good idea. However, it is completely up to you how much time and money you would like to invest in the process.

Whether you choose to simply give your house a deep clean and put your family photos away, or you choose to hire a professional staging company is up to you.

Whatever you can do, however small, to make your home a more neutral and welcoming place will ultimately benefit you on closing day.

Looking to sell your home, but need more advice on staging? List with Clever!

Our knowledgeable agents will list you house for one flat fee and tell you everything that you need to know. Call us today at 1-833-2-CLEVER or fill out our online form to get started.