Staging your home to sell means that you are willing to go that extra mile to ensure a speedy and profitable real estate transaction. Home staging is a crucial component of property marketing and is known as the most effective way to make an emotional connection between your home and prospective buyers.
Real estate staging is all about selling a lifestyle image, by creating the ideal atmosphere inside and outside the house, as well as improving the look, feel and flow of the décor through updating, repairing, decluttering and depersonalizing the space.
This presentation provides an objective overview of home staging that teaches property owners exactly what they can expect when staging a house or apartment for sale.
Staging Your Home to Sell Quickly
The purpose of real estate staging is simple: Get the property sold as fast as possible and for the most money possible. Staging accomplishes this goal by removing taste-specific décor which may deter potential buyers and conjuring up an environment of universal appeal in the residence.
Home fluffing further enhances the aesthetics of the property by allowing buyers to see themselves living in the space, rather than being burdened by the personalities and possessions of the current owner/occupant.
Staging uses color, furniture, lighting, open space and art to produce an interior which is so desirable, that buyers often get into bidding wars on a property simply because of the success of the staging techniques employed.
Staging Your Home for Optimal Profit
Real estate staging statistics show that enhanced properties can sell for as much as 17% higher than a comparable unstaged home. While this is the extreme top of the spectrum, most sellers realize more conservative statistics of 5% to 10% increased sales price.
Even the low end of this range brings in a tidy extra profit of $15,000 on an average home. All this bonus money can come from an investment of only $1500-$2000, on average. This is an excellent ROI and can turn out to be truly unbelievable in some cases.
I staged a home recently, which sold for a surprisingly huge profit. The original asking price was only $845,000, but when the Realtor saw the improvements we had accomplished, she demanded that the seller start with a higher asking price. The home was listed for $899,000 and eventually sold for $950,000 in a down market. The comparable value of the home was the original marketing price of $845,000, showing an extra profit of $95,000.
The cost of staging this particular home was high, at almost $16,000, since major upgrades were needed. I came on as a consultant on the project and offered several ways that the home could be modernized and improved using sweat equity and some common sense renovations. All the work was completed in less than 2 weeks and the home sold in 4 days. All told, the $16K was tax deductible for the seller and the extra profit still amounted to $89,000. Remarkable.
Bottom Line Recommendations on Staging Your Home
What home seller could not use the security of a profitable done deal in a short time frame?
What home seller could not use the extra money brought in by targeted home staging strategies, be it $5,000 or $50,000?
Not staging a home is only inviting potential failure in your sales aspirations and is admitting defeat before the battle. It is akin to simply taking less money than you could get for your home. Does this make sense? Of course not.
To maximize the profit on your home sale, contact a qualified home staging professional or consider implementing DIY home staging for an even greater return on your investment.