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A well-dressed, sparkling house can garner lots of attention, and potentially sell very quickly. This is true regardless of whether the market is cold or hot. In a cold market, buyers don’t have to settle for anything less than the best. Why should they spend time and money fixing up a distressed home when a staged house looks great and is move-in ready? In a hot market, buyers can go into feeding-frenzy mode, focusing on the hot property of the week and ignoring the others. So you want your property to be the hot one, with buyers going crazy in their efforts to outbid each other.
Here are some reasons why staging helps:
Higher sale price. 83% of staged properties sell for asking price or above, compared to those not staged, in a similar market. A buyer’s perception of a home directly impacts the sale price. The price tag for staging is a fraction of the cost of just one price reduction.
Faster sale. Gain market advantage with a small investment in professional home staging and seize the opportunity to sell your home in the least amount of time. Homes that are staged sell 75% faster than those that are not (13.8 days vs. 30.9 according to 2004 survey conducted on behalf of Coldwell Banker).
Zero net cost. A 2003 HomeGain Survey showed that sellers who spent $1,000 staging their home recovered almost 200% of the staging cost from the increased sale price of their home.
Objectivity. A home staging professional will provide the objective eye so that a carefully prepared action plan can be created.
Guided recommendations. From that action plan, you can decide how much or how little you’d like to tackle yourself. However, a professional home stager can also project manage all aspects of the recommended improvements.
Effective Visualization. Only 10% of home buyers can visualize the potential of a home. A professional home stager will create the proper focal points and traffic flow to address that.
Length of time on market determines sale price. The longer that a home remains on the market, the lower the offers become. Since a picture is worth a thousand words and “web traffic” has replaced what we formerly knew as “foot traffic”, staging before marketing photos are taken will ensure a quality presence on the internet.
Competitive Edge. Leaving your home in an “As Is” condition will help sell the competition.
Investment in Future Earnings. Buyers are willing to pay more for a property that is in move-in condition.
By using the services of a professional home staging company to properly prepare your property prior to listing it for sale, you will protect the equity you have built up over the years.