Home Staging: The Finishing Touchon May 1, 2018 3:09 pm under Guest Post, Real Estate Investment Tips
What is Home Staging?
Home Staging is at its foundation the basic economic principle of improving upon a product thereby attracting more buyers which increases its selling price. If you go to the store to purchase a product you are most likely to pay retail when the product is packaged nicely and displayed properly. If it appears to be in sub-par condition, you expect a discount. The same is true for selling a home.
Home Staging is about preparing your home for the real estate market and merchandising what may be your biggest asset. This is done by creating the visual and emotional appeal to draw buyers in to envision their life in that home. Buying a home is not only a financial decision but an emotional decision
as well. The buyer must be able to picture themselves living in the home, living the lifestyle the home portrays for the desire to purchase the home to come to fruition. Remember, although the property you have worked so hard to rehab and flip is an investment to you, it needs to seem like the perfect home to your buyers.
Staging is a Two Part Process
The first part of staging is the preparation of the home. Often a homeowner that has lived with imperfections in the home for a period of time, no longer sees them. Preparing a home involves not only de-cluttering, but can include such things as taking care of any needed repair work, replacing any worn out or damaged items, painting and of course includes a deep cleaning from top to bottom!
The second part of staging is showcasing where the creative and artistic part of home staging takes over. It Involves such things as proper paint colors, furniture, art and accessory arrangement to best enhance the home. Merchandising is why companies pay advertising agencies to make their products look good and appeal to prospective buyers. This step is what helps the buyer emotionally connect to the home. Put a complete and pretty package together, appealing to the future buyers needs and wants, and voila, the purchase ensues!
Three Essential Elements of Successful Home Staging
1. Correct as many negative aspects of the home as possible. By handling objections in advance, you are removing the potential deterrents, allowing the buyers to focus on the positive aspects of the home.
2. Accentuate the positive features of the home. Selling features stay with a home and should not be hidden from potential buyers with personal items, clutter or a poor furniture arrangement.
3. Create emotional appeal to connect the buyers with the home. If the home for sale is to personalized with clutter as well as personalized decor or overly decorated, its very difficult for a buyer see past the distractions to envision themselves in the home.
Three Basic Staging Tips
1. Remove all clutter and non-essential items that are not necessary to positively accentuate the space, room or exterior.
2. De-personalize. You are selling your home, not your personal family photos, collections, personal items or taste-specific decor. Keep the focus on the selling features inside and outside of the home.
3. Cleanliness and well-maintained sells. Have your house deep cleaned, including windows. Make sure the outside shows equally immaculate with manicured landscaping and clean exterior.
Current Trends when Staging and Selling Your Home
Neutrals! When the wall colors and flooring are neutral, buyers can accent and decorate with any vibrant color they like or already have. Buyers prefer a freshly painted neutral base already there for them. Currently a soft or light gray or greige (gray / beige) wall color is still very popular in our area.
No need to paint each room a different color. Choose one neutral paint color to use throughout the home. The same holds true with any carpeting. Use the same neutral color wherever there is carpeting in the home.
Hardwood flooring reigns supreme in popularity. Uncover hardwoods if they’re hiding under old carpet, refinish them if need be or consider installing them if you need to replace old flooring.
Less is more. The days of fussy heavy window treatments with multiple layers are gone. Clear and clean windows will let the warm sunshine and daylight in.
Whites and cream cabinets are still the classic favorite and most popular. Oak will be perceived as dated. Stainless appliances and granite countertops are now considered the standard, no matter the price point of the home, and not just upgrades or for high end homes.
Did You Know? Staging ROI (Return on Investment):
- According to NAR, the National Association of Realtors, on average 95% of buyers start their search on-line. When you only have seconds to capture the interest of potential buyers searching for homes on-line, professional photos of a staged home will stand out far more than an un-staged home.
- RESA, The Real Estate Staging Association reports that homes that were staged first before going on the market spent 90% less time on the market than un-staged homes and averaged 23 days on the market compared to un-staged homes that on average spent 184 days on the market.
- NAR, the National Association of Realtors reports: On average an 8-10% return on the sale price ifinvesting 1-3% of the list price of your home.
- A survey conducted by Coldwell Banker found that staged homes sold on average 6% above asking price and spent less time on the market.
- Staging & Design Network’s Tricia Tomlinson, found from a recent national poll that: Homes professionally staged sell in about 1/3 of the time of an un-staged home and as high as 18% more depending upon the price of the home. Noting that even at an average of 7% return on the sale price still warrants a nationwide average of 2% investment for home staging.
- The cost of staging is almost always less than the first price reduction!
Does Staging Work?
Staging is no longer the unheard of new trend. HGTV brought the concept into our living rooms, with buyers responding indisputably in favor of staged homes vs un-staged homes. With years of statistics from various industry organizations proving the undeniable advantages and positive results of home staging.
Not staging your home only sells your competition faster and leaves potential money on the table from the sale of what could be your largest real estate investment. Staging is the finishing touch that has become the standard procedure for properly preparing your home for the market to get the most amount of money for your home in the least amount of time.
The Magic of Staging (Before and After Slideshow):
Property Staged by Sherry for Rehab Financial Group:
Sherry Castaldi of Organized by Design, has been creating warm and inviting homes whether you wantto sell, stay or simplify since 2004. Sherry Is an HSR Certified Professional Home Stager, holds theRESA-PRO Distinction from the Real Estate Staging Association, is recognized in the RESA SoldOver List Price Club for her accomplishments of staging homes that have sold $45,000+, $30,000,$25,000, $15,000, $10,000 (8x) and $5000(12x) over the listing price, as well being awarded as aRESA 2015 Top 10 Home Stager of the Year Occupied Category United States, and is a 5x recipientof the Best of Houzz in Customer Service Award