Home Staging in a Hot Seller’s Market
When homes are selling quickly and at a premium, a seller or realtor may wonder if staging is worth the time and effort. The answer is yes! Home staging will uplift the home’s perceived value and increase the attraction and pricing to Buyers. It allows the home to really “show” it’s potential and beauty.
A seller’s market means that there are fewer homes for sale (low inventory) with a multitude of buyers looking to buy. As we know the real estate markets cycle, and this time there is a great advantage to people selling their homes. Buyers need to quick in presenting their best offers in order to secure the sale.
Although over 30 percent of sellers and Listing real estate agents, utilize the power of home staging, in this market, we can all tend to become complacent. Why bother when there is a small inventory and buyers are almost plentiful and anxious to buy?
There are still many benefits to staging a home in a sellers market. Here are a few:
Selling at a premium price – although the homes today are selling above list, home staged properties will add up to 20 percent above non staged properties. Data from the Real Estate Staging Association says that 85 % of staged homes sold up to 25% over list.
The buyers were attracted to more homes via online pictures that were appealing. The home décor and appeal would positively impact 39% of the buyers. 82 % of Buyer Agents reported that staging made connected the buyer to the property. I feel strongly that the online images need to match the in-person visit, so that there is no feeling of “let down” and the home holds it’s appeal.
Many homes have unusual floor plans and room sizes. Addressing these smaller rooms and niches, each room is given a purpose.
Buyers know that they are going to pay a premium price for their future home, and they want to feel that they are still getting a good value for their money. The appraisal on the home may also get a “lift” when the home is staged.
Move in Ready
As today’s buyers are often purchasing at the top of their budget, they may not have the time or finances to invest in a lot of renovations or repairs, even small ones. Home staging efforts such as a fresh coat of paint, décor strategies, and de-cluttering make a huge difference. In a seller’s market, homebuyers are often purchasing at the top of their purchasing power. This means that most buyers will have very little funds available, if any, to spend on any additional renovations or repairs upon purchase of the home and therefore the importance of a move-in ready home is higher than ever. Homes that are prepared properly will net the greatest return and largest quantity of offers.
The greater appeal the home has, the shorter the listing time. The buyer feels connected and excited about the property, thus making the process easier.
Remember that this is a future home for someone, and we want them to feel joyful and excited about it. This is a huge investment, possibly the biggest one of their lives. Honoring the home, uplifting the space, and creating connection is a rewarding goal.
To learn more read a Daily Record Article
Renae Jensen is an active New Jersey Realtor, and founder of Conscious Design. Contact her at RenaeJensen@gmail.com and RenaeJensen.com