If you're trying to sell your home, that means you have some SERIOUS competition, all wanting to sell their listing quickly and for top dollar. So how can you stand out?
Of course, it’s important to have a great Realtor on your team that specializes in home sales like Anthony Alfano and the Alfano Group team. But homeowners also have a secret weapon that will help them separate their listing from the competition, attract more qualified buyers, sell faster, and for higher prices: home staging.
In this blog we’ll cover some of the hard facts, statistics and data on just how effect home staging is for selling homes quickly and netting sellers higher profits.
What’s the average cost to stage a home for sale?
Last year, home staging cost a median of $675 for home sellers.
Of course, it will cost more to properly stage a high-end or luxury home, but it’s important to remember that the ROI will be the same or even better, netting far more for the seller.
How much extra money are buyers willing to offer for a staged home?
According to national surveys:
4% Of staged homes see an increase of 16-20% of the home’s value
8% See an increase of 11-15% of the home’s value
22% See an increase of 6-10% of the home’s value
37% See an increase of 1-5% of the home’s value
10% Of the time, home staging has no impact on the dollar value
0% Of the time, staging a home has a negative impact on price
19% Of the time, the effect of home staging on prices in not determined
Data reveals that homes that are staged also sell for an average of 6% above the asking price!
What’s the effect of home staging on Days on Market?
An independent survey showed that staged homes spend only half as many days on market as non-staged homes.
Time is money when it comes to selling a home – and staging saves time:
A National Association of Realtors (NAR) study seconded that when it found that the longer a home stays on market, the further the price drops and the less it will ultimately sell for.
Since 90% of homebuyers first start their search online these days, your listing photos will really stand out and attract more buyers when your home is staged.
The same NAR survey found that the average staged home has an ROI of about 8-10%.
A comprehensive study found that homes that were staged AFTER they were already listed sold in an average of 198 days.
However, when homeowners had their homes staged BEFORE they listed them for sale, these properties sold in only 42 days!
That means homes staged pre-listing sold 79% percent faster than those staged post-listing.
What do Realtors think about home staging?
32% of real estate agents report that staging a home increases the dollar value that buyers are willing to offer by a substantial 1-5%, particularly on medium to high priced listings.
To put that dollar increase due to staging in perspective, that means the sellers would see $3,500 to $17,500 more on a $350,000 home sale!
That’s just a start to the financial benefits of staging, as 16% of real estate agents believe staging actually will increase the price their buyers offer by 6-10% which would be up to $35,000 on that same $350,000 home.
How do home buyers feel about staged homes?
Of course, realtors have a great perspective on home staging, but what if we asked those same buyers we're trying to attract?
In fact, 81% of buyers say it’s easier to visualize themselves living in the home when it’s staged, and 28% overlook the home’s faults when it’s staged.
46% of buyers are more willing to go view and walk through a listing they saw online when it’s staged.
What do buyer’s agents think about the effects of home staging? 49% of agents representing the buyer feel that home staging helps influence most buyers, while 47% feel at least some buyers are affected by staging.
How many sellers’ agents recommend staging?
34% of listing agents stage all of their homes for sale
13% Only stage homes that are difficult to sell
4% Stage only high priced listings
44% De-clutter and fix the property only without staging.
Which rooms are most likely to be staged?
1 Living room
3 Master Bedroom
4 Dining Room
6 Children’s Room
7 Guest Bedroom
Who pays for home staging?
62% Of seller’s agent offer home staging services to sellers as part of a full-price commission package.
39% Of homeowners pay to have their home staged before the home is listed.
10% Of homeowners pay the stager after the home is sold.
3% of the time, the real estate agent’s firm pays for home staging services.
Contact us for more information about staging your home or selling for top dollar!