The power of home staging is proven by its wonderful results. Staging is the preeminent method of marketing any type of real estate for sale or rental. Staging has become a virtually universal component of selling many different types of properties, ranging from luxury mansions to simple single family homes to the full gamut of condominiums and cooperative apartments. Staging is also known to attract quality renters to leased properties and even raise the price of rent paid by the tenant.
I witness the power of real estate staging every day, since I am involved in the industry and take active roles in providing services and educating home stagers of all backgrounds and skill levels. Therefore, I feel it is my obligation to share the many benefits offered by home staging with as many people as possible, since failing to stage a property before offering it for sale or rental is a sure way to earn less and prolong the arduous process of finding a buyer or renter.
This essay calls on my many years’ of expertise to describe in vivid detail the actual power of implementing home staging techniques in any marketable property.
Aesthetic Power of Home Staging
In order to sell or rent a property, you must make it as appealing as possible to the type of person who is most likely to purchase or lease it. This is common sense. However, the lesson is not universally applied, since so many people place properties on the market without doing all they can to enhance the desirability of the residence. Home staging is the best way to address aesthetic issues, being that staging is fast, low cost and proven to make sweeping positive changes in the look, feel and flow of any home.
Staging can be used to make a small space seem larger and more functional. Staging can be used to define the purpose of each room in order to help prospective buyers or renters to envision themselves living in the home. Staging appeals to buyers and renters on an emotional level, creating demand that can lead to higher offers and even multiple offers in many instances. Staging does all this through expert design implementation combined with specific strategies that help market the property to a particular target demographic.
Staging optimizes the interior décor and enhances the curb appeal and usefulness of the outdoor spaces of the property, as well. Staging sells a lifestyle image of perfection, helping to boost the already excellent attributes of any property and aiding in concealing any less than ideal characteristics of the home. Remember, staging is not decorating, although décor enrichment is a major aspect of the service. Instead, staging is a combination of enhancements that appeal to every sense, combined with tactics designed to sell or rent real estate quickly and for maximum price.
Effectiveness of Home Staging
Yes, any type of home staging will take some amount of work and some degree of financial investment. Some homes can be staged successfully with minimal expenditures of time and money, while others will take considerably more of one or both.
DIY staging will almost always be less expensive than professional home staging, but the process will usually take longer and might not generate the same level of positive results, although this is not always true. Professional home staging services are fast and efficient, but come at a higher cost, since all the work is performed by experts in the field who command fees for their time.
Regardless of which path is chosen, the benefits of staging virtually always outweigh the time and cost investments. Proven statistics show that staged homes will sell or rent much faster than unstaged comparable homes. Additionally, when the home is rented or sold, it earns more money from the transaction than a comparable unstaged residence. Most statistics point to increases in final sales price of up to 17%, while rented units can go for similarly increased rents, especially if they are rented including the staging props as fully furnished units. Both of these options can earn tens or even hundreds of thousands of extra dollars for the seller or owner.
Convincing Power of Home Staging
Home staging is always a worthwhile investment of time, effort and money.
Real estate agents love to list staged properties and some will insist that all of their listings be staged prior to marketing. This is because these property pros understand just how powerful staging is to convince buyers and renters to make offers right now.
Over my home staging career, I have seen staging help to sell properties that languished on the market for years before being enhanced. I have seen staged homes sell before they even officially hit the market, sometimes for as much as 20% above asking price in multiple offer scenarios. I have also seen lots of normal families invest some time and money into staging and enjoy significant returns in the form of shorter sales times and larger final prices paid by the buyers or renters. I have rarely seen staging fail to deliver and when it has, it is only because of truly catastrophic circumstances that were unrelated to the aesthetics or desirability of the home.
On that note, remember that staging is not a cure all for every property problem. If you have a major impediment to renting or selling, be sure to deal with that issue and do not expect the staging to cover-up liens, impediments to mortgages or dire structural issues in the residence. Barring these types of disasters, staging will get your home sold or rented better than any other traditional or innovative real estate marketing method and will accomplish this task at a price that every seller can surely afford.