Home Staging and Why it Works
Correctly Staged Houses Sell Quicker and for More Money…
If you’re not sure about hiring a professional to stage your house prior to putting up for sale, we’ve got some statistics that should help you decide.
Why Home Staging Is a Must (Infographic)
RESA Home Staging Statistics Report 2016
The Real Estate Staging Association (RESA®) has recently released its annual home staging statistics report. Members from North America (and some countries in Europe and Australia) had contributed and put together all data to support the benefits of home staging to home sellers, and why home staging is a must when it is time to sell.
Based on the statistics, a property that is NOT staged stays on the market for at least 26 weeks (more than 6 months!) A long time considering all the carrying costs and the stress associated to it. After staging, these stale listings sold in an average of 41 days.
On the other hand, homes that are staged before it hits the market sells in an average of 23 days (what a difference!). Which means homes that are showcased and staged properly from the get go sells 90% faster than homes that are listed on the market “as is”.
– See more at: Read more… New Study – Why home staging is a must
According to the National Association of Realtors 2015 Survey:
- Over 81% of buyers find it “easier to visualize the property as their future home” when it is staged
- A staged home sells 67% faster than a vacant home and on average for 6% more than asking price.
- The longer a home stays on the market, the further below list price it drops.
- Almost a third (28%) of buyers are more willing to “overlook property faults” when the home is staged.
- 71% of seller’s agents said that STAGING increases the dollar value.
- 96% of buyers agents said that staging affects the way buyers view a property.
- Over 70% of STAGED homes sell at or above list price.
- For buyers it is easier to visualize the property as a future home (81 percent), buyers are more willing to walk through a home they viewed online (46 percent), will positively impact the value of the home if it is decorated to the buyer tastes (45 percent), and buyers are more willing to overlook other property faults (28 percent). (National Association of REALTORS®)
- The most important rooms to be staged for buyers matches identically to the rooms that are most common to be staged among sellers—in order: living room, kitchen, master bedroom, dining room, bathroom, children’s bedroom, and guest bedroom.
(National Association of REALTORS®)
You may want to consider these:
- In general today’s buyers spend an average of just 6 minutes touring a home, but they already know within the first 15 seconds if they like what they see.
- Multiple survey’s have found that buyers will spend double the time in STAGED homes and that Staged homes are on the market for half the time that un-staged homes are.
- The US Housing and Urban Development reports that a STAGED house sells for, on average, 17% higher than an un‐staged house.
- Staging ROI average is 586% (bankrate.com)
- Buyers will stay in a vacant home an average of 5 minutes but will linger in a furnished home an average of 40 minutes.
- Studies show that the longer a buyer remains in the home, the more likely they are to make an offer.
Study Conducted by Trulia (2012):
- Within 78 days, the average seller has discounted their home 8% in price reductions, while hiring a home stager typically costs 1.5% or less.
- $200,00 home 8% = $16,000 in reductions
- 1.5% = $3000 or less for staging
- $13,000 saved!
- Add to that the added months of carrying costs.
- To stage a vacant home usually costs less than 1 mortgage payment, but on average will save more than 3 payments.