When selling a home, sometimes the last thing on the to-do list is to stage the home. However, staging is more likely to increase the chances of selling one's home. The National Association of Realtors 2021 Profile of Home Staging found that 47% of buyers’ agents thought home staging affected the buyer’s opinion of the property, and 82% felt that it made it easier for the buyer to visualize the property as a future home.
What Exactly is Home Staging?
Home staging is a method where one makes their home as appealing as possible to attract the right home buyer. Staging is concerned with interior design and sometimes cleaning and fixing the outside of the property. Home staging showcases the home's best qualities, presenting it in a way that makes it look move-in ready and in better condition than it might actually be.
During the home staging process, sellers will remove personal markers, such as old furniture or magnets on the refrigerator, and bring in newer décor, art and accessories that are on-trend with current styles. It’s important to make a memorable impression on the potential buyer by creating an environment that allows them to envision themselves in the space; pay special attention to the living room, master bedroom, kitchen and dining room.
Why Staging is Important
We are currently in a seller’s market, where homes sell fast. Staging one’s home can help the seller earn the highest possible return on investment. Indeed, sellers who did stage their home saw an ROI of 5% to 15% over the asking price – however, those who did not could experience a price reduction five to twenty times more than the potential staging investment.
Staging is also an effective way for sellers to differentiate their homes in a competitive market. Likewise, staging keeps buyers engaged and committed, making it less likely that they will change their minds at the last minute.
Be sure to decorate the home for the target market. Most home tours are online via video or photos rather than in-person. Moreover, millennials made up the largest share of home buyers at 38% in 2020, and almost all millennial home buyers begin their search online.
DIY or Hiring a Pro
It is possible to DIY interior design, but for others, redesigning and refurbishing at a professional level might be challenging or too time-consuming. Those who opt to do the staging process on their own should begin by cleaning, decluttering and depersonalizing to remove distractions. Arrange the furniture to accent the best parts of their home and add a coat of neutral wall color to brighten the space.
A staging expert will typically bring in furniture for home staging (these pieces can stay in the home for 90 days). Usually, home sellers will need to store their items and furniture in their garage or basement during staging. A staging expert can even inspect to see if there are any necessary repairs.
Hiring a professional to help stage your property
If you do decide to hire a professional, be sure to talk to your real estate agent first – we can reach out to our trusted vendors or lend our own expertise.