One of the biggest trends in real estate over the past few years has been Home Staging or Real Estate Staging.
Television networks such as HGTV, TLC, and A&E have jumped on the bandwagon to bring this practice to the mainstream. Real estate professionals and home sellers nationally and even internationally, have implemented this strategy with outstanding and very profitable results. Now that the market has shifted, it is even more important than ever that staging be put to use in the marketing of a property. Unfortunately, in recessions, many real estate professionals and homeowners struggle to sell their properties quickly and many think the best way to survive is to cut their staging budgets. The opposite is actually true, if you want to sell a property quickly. home staging business
Studies show that pulling back on staging homes during a recession actually hurts, rather than helps with home sales. Listings that are staged and priced competitively sell at minimum, 50% faster than non-staged properties do.
All real estate professionals and homeowners who have taken a hasty approach to putting a house on the market and choosing to forgo staging has experienced the penalties of that decision as their houses languish on the market, month after month, price reduction after price reduction, with no sale.
In case you’re still hesitant about incorporating home staging into your marketing plan, read on to learn about the Top 3 Benefits of Home Staging.
The reality is that the real estate market has shifted, So if you’re tired of dealing with lack luster sales, then you should grab any advantage you can get your hands on.
Benefit #1 – $FINANCIAL$
Bottom line is that statistically, staged homes tend to sell faster and for more money. Listings that are staged and priced competitively sell at minimum, 50% faster than non-staged properties do. A 2007 survey found that 94% of staged homes sold on average in one month or less. Homes that were staged spent 80% less time on the market than those that were not staged. A side benefit of this is savings on holding costs (mortgage payments, homeowners insurance, utility bills, etc.) associated with the maintenance of a property while it is on the market.
Staging, when done right, increases perceived value. By showcasing the property in its best possible light, it is automatically assumed that the property has been well taken care of and Staged homes often appraise at a higher value. A 2007 Home Gain survey of 2,000 practitioners found that the return on investment from home staging was as much as 343%.