Why Stage A Home in a Seller's Market?

COVID brought on a myriad of shortages for 2021. The shortage of homes for sale has caused the real estate market to just go a little crazy, to say the least. It’s definitely a sellers’ market with little inventory and over the top bidding wars. Many are scoffing at the idea of home staging in this market because they think buyers are desperate to find homes. While this is true, we have many examples and statistics as to why you may want to consider the small investment in home staging before listing your home in today’s market. There may be money left on the table if you don’t…

The shortage of inventory is causing record multiple offers above asking price on homes. But just because it’s a seller’s market, does that mean any home will sell for multiple offers above asking price? The short answer - no. If a home has not been updated in over a decade, do not expect it to compete in today’s “crazy over listing price” market. Yes, it may sell but it won’t bring in top dollar due to the sheer fact the buyer will calculate in all those updates that need to be done.

In today’s market, your first step toward curb appeal is your online presence.

Pictures say a thousand words and in the real estate world it is the buyers’ first impression of any home. If your pictures don’t “wow” the client, it’s unlikely they will schedule a showing. If your pictures show years of neglect on updates, then you won’t see that high offer on day one. The buyer will simply move on to another home online.

Home sold in 2 days after staging!

Home staging allows the buyer to visualize themselves in the home.

According to the new 2021 survey from the National Association of Realtors®, eighty-two percent (82%) of buyer’s agents said staging a home made it easier for a buyer to visualize the property as a future home. If the buyer feels like it’s home, their desire for the house will drive their offer. This report also revealed that staging increased the sum buyers were willing to spend for a property. Twenty-three percent (23%) of buyers' agents said that home staging raised the dollar value offered between 1% and 5%, compared to similar homes on the market that hadn't been staged. Coincidentally, the same percentage of seller’s agents (23%) stated they received between 1% and 5% higher offers on home that had been staged. Let’s do the math on that, shall we:

Amounts are approximate depending on area you reside, size of home, and value of home. Home consultations are a service that provides you with a list of needed updates/repairs that the homeowner should consider. Full service staging is bringing in furniture for a vacant home. Both avenues give a nice return on investment.

So based on the math, you don’t lose money. You make back your investment plus gain an extra profit - the amount depends on your list price, and whether the home has been properly prepared.

Real estate agents have good reason to stage too

Don’t sacrifice your proven, repeatable systems even in this strong sellers’ market. That includes professional photography AND staging. This sellers’ market will not last forever, and it’s important to show how you differentiate yourself and your listings from other Real Estate Agents.

Don’t forget that a home that sells for more also increases YOUR commission, in addition to adding to the equity in your sellers’ home.

If you are a homeowner and/or realtor in the Northern Virginia area, take a look at this video that Owner, Leigh Newport, made in February. She makes great points to support the reasons behind staging in a sellers’ market.

It stands to say that the small investment in home staging can bring in a nice return on investment (ROI). In the past we’ve always referred to home staging being less than your first price reduction. In today’s market, you’ve got to consider the amount of money you are leaving at the table by NOT staging. Go ahead - be the best house on the block!

Interested in more tips and advice about home staging? Porch.com has a great Q&A article from home stagers around the country (including our very own Leigh Newport!). Check it out here: Real Estate Photography, Home & Virtual Staging Q & A: Tips & Advice

If you need help being the best, book an online appointment with us and allow us to shine a spotlight on your home!

Staging Toolkit for Realtors

Real estate doesn't stop because of a global pandemic. Clients need to sell regardless based on circumstances prior to the coronavirus outbreak. Whether it's during this crazy time or just a normal day outside of coronavirus mania, we thought it might be handy to supply you with a basic staging toolkit for realtors that can help prepare a house for sell when professional staging is not an option. (Click on pictures below to purchase straight from Amazon)

The finishing touches really do count when transforming a house to a home. The same is considered when staging a home to sell. There are little things you as realtors can keep on hand to assist in staging a property and making that buyer feel like that house is home.

Door Mats

First impressions are a must. Buyers on average make up their mind if they like a house within the first 15 seconds of entering a home. Why not make the most of those first few seconds by placing new clean mats at both the exterior and interior entrance?

Towels

Who doesn't love a brand new towel?? White towels are a must. They scream crisp and clean and go with every type of decor. We like to place towels on every towel bar in every bathroom to soften it as most bathrooms come across as cold and empty. And don't rule out a good gray towel if your bathroom has a lot of white in the hard surfaces. This will bring a pop of color to the bathroom but still keep it neutral..

Shower Curtains

Shower curtains also add to the softening of a bathroom. White shower curtains, again, shout crisp and clean and they go with all decor. We've also recommended a fun ombre one as well to bring in that ever-so-popular gray.

Bedding

White bedding gives a bed that hotel feel. Are you sensing our crisp and clean theme?? It's simple, neutral and creates a wonderful focal point for professional photos. Gray is also a great neutral backdrop if the room is light in color. Used together, you can fold one at bottom to create a nice layering of textiles that feel like luxury and comfort. And don't forget that white bed skirt if needed!

Lamps

Lighting is key to showing a home. Not only do we suggest using the highest wattage, non-energy efficient light bulb you can, but we also suggest layering lighting with lamps in darker areas. This will help buyers see the house better at night and on darker, cloudier days. Here's some great lamps to keep on hand that will never lose trend and will work with almost every style.

We hope this staging toolkit for realtors will be helpful to add some light touches to your properties. We are always available if you need to call in the big guns - we are still staging vacant homes using all the necessary precautions to keep your client and ourselves safe from COVID-19. Feel free to give us a call (703-552-4545) or book a virtual home consultation online and we will be happy to partner with you to SHINE a SPOTLIGHT on your home.

*Disclaimer: This page contains Amazon affiliate links which means Staged by Design® may earn commission if you use links provided

Why Stage in a Hot Market?

You may wonder why it would be beneficial to stage your home or listing in a HOT market. Statistics show us that the average Days on Market for Loudoun County was 22 as of May 2019. Reduced inventory has continued to increase demand over the past year, and sales prices along with it.

Many sellers may feel that their house will sell even if they are in need of cosmetic repairs and/or updates. While your home may still sell in a strong market, proper preparation and presentation increases demand by providing compelling online photos and can often create a bidding war.

Staging is truly targeted marketing. We utilize photo styling tacticts to create compelling online photos. Over 90% of buyers shop online before stepping foot inside the door of the house. With polished professional photos, a well-designed, de-cluttered home creates that online interest needed to urge buyers to see the home in person.

Staging also allows a buyer to visualize themselves and their family in the home. Most people have a hard time arranging and designing their homes. By having it staged, they can instantly see how spaces are used, gain ideas, and acquire a sense of home when they walk in the door. Appealing to the emotion of the buyer is one of the most important benefits of staging your home for sale.

Realtors have a fiduciary responsibility to help their clients sell their homes for the most amount of money. The National Association of Realtors cites that staged homes can increase sales prices by 5-10%. In any kind of market, consider sharing one tool they can use to get more money for their home - STAGING!

Staged by Design offers consultations for occupied homes, as well as full staging for vacant homes. Feel free to contact us for your staging needs!