A significant part of an agent’s pitch is selling the lifestyle that comes with a certain property. Even experienced buyers sometimes struggle with envisioning what their lives will actually look like in a property that seems to check all the right boxes. This is when the process becomes more about the feelings a property generates and less about the numbers. So how do successful agents expedite this process? Through effective, thoughtful home staging! Home staging is the process of preparing a property to go on the market. Typically, this involves cleaning, simple decorating, and sometimes renting furnishing to fill an empty home or replace outdated furniture that could hamper a prospective buyer’s opinion.
Staging might seem like an extra expense — why spend money working toward a sale when the seller can just clean up the property at no cost? But the compelling data about staging may change your perspective on this.
According to a report by the National Association of Realtors (NAR), “seventy-seven percent of buyers’ agents said staging a home made it easier for a buyer to visualize the property as a future home.” This means these agents saw real evidence that staging converted their clients into buyers.
Not only did it improve buyers’ perspective on a property, but seeing a well-staged property online made them more likely to check it out in person. It’s important for agents to never underestimate the power of a good first impression!
Nearly half of the agents surveyed reported that staging made an impact on most buyers, and even more said that they were sure it made some difference, even if it wasn’t the deciding factor. There isn’t a one-size-fits-all approach to the buying and selling process, but incorporating tactics like staging can go a long way.
If you’re worried about having to stage an entire property, you may not need to! Some rooms are more effective than others and are more worth your time. The NAR report states that “staging the living room was found to be most important (55 percent), followed by staging the master bedroom (51 percent), then staging the kitchen (41 percent).”
It’s not just buyers’ agents who see a difference. “Thirty-eight percent of sellers’ agents said they stage all homes prior to listing them for sale.” These agents focus on the same areas as buyer agents, but also make a point to stage dining rooms (when applicable).
Staging also leads to an increase in sale price. More than half of all agents surveyed for the report stated that staging increased the sale price by anywhere from 1% to 20%. That can make a huge difference for your commission!
Excited about the possibilities of home staging? Be sure to read the full report here. In our next post, we’ll share some tips and tricks to make staging a breeze — and a boom for your biz!
Read the next article in our two-part series here.