If you have taken our fix and flip program, you know staging a home is part of our curriculum because we feel it is key to the sales process. We’ve seen the research and have experienced first-hand the added value staging brings to a property. As a fix and flipper, the goal is to purchase the property using an off-market strategy such as pre-foreclosure and then fix up the property to its maximum ARV (After Repaired Value) and market it to the masses.
Staging helps Mr. and Mrs. Buyer see the possibilities of the property. It helps them easily visualize living in and loving the home. A good stager knows how to emphasize the positive aspects of the property and downplay the negatives. For example, if there is open green space directly outside the living room that is visible by a slider or french door, a good stager will use the space to bring the outside in, not block it with furniture, which will make the living room feel larger.
NAR – National Associations of Realtors conducted a survey that provides some interesting insights to the direct benefits of staging.
Why Staging a Home for Sale Matters
- 49 percent of surveyed Realtors who work with buyers believe staging usually has a direct effect on the buyer’s view of the home.
- Only 4 percent of Realtors said staging has no impact on buyer perceptions.
- 81 percent of Realtors who work with buyers said staging helps buyers visualize the property as a future home.
- Buyers are 46 percent more willing to walk through a home they saw online when staged.
- 45 percent of Realtors said the way a stager decorated positively impacted the property’s value.
- 34 percent of Realtors utilize staging on all homes they list.
- 13 percent of Realtors tend to stage only homes that are difficult to sell.
- The median cost to stage a property nationally is $675.
- 62 percent of the time staging is considered a service to sellers by the listing realtor.
- 39 percent of the time the seller pays for staging before listing the property.
Realtors representing both buyers and sellers agreed on two major points in the report. One was which rooms should be staged, they ranked the living room as the number one room to stage, followed by the kitchen. Rounding out the top five rooms were the master bedroom, dining room and bathrooms.
The second point realtors agreed on was the change in dollar value a buyer is willing to offer for a staged home compared to a similar non-staged home. Many realtors believe that buyers offer 1 to 5 percent more on the value of a staged home, where some believe it’s closer to 6 to 10 percent.
For more resources on staging a home there are two good sites:
- Home Staging Resources has several good videos like, The secret to getting the phone to ring or Website Check list.
- RESA (Real Estate Staging Association)
Diana D. Hill – Diana@OTARealEstate.com