Home staging is taking a hit right now…with record low housing inventory and chart-busting prices, many sellers and agents are moving so quickly to a contact that they are not considering how home staging can add value, even in this market. And indeed, many home are selling without any updates or improvements.
However, a recent conversation with a realtor was a good reality check…even if she takes multiple offers in a short time, having the home photograph and show as a higher value property than the comps will increase value, in some cases by as much as 10% or higher. Many buyers, especially those with families or in a first-time buying position, want something they can move into and enjoy, because they’re already paying so much and don’t have a lot of extra money. Empty nesters often want convenience and easy maintenance, so fresh paint, neutral finishes and a vision of how to use the space is enticing.
What’s also happening in this kind of hot market is that the cycle of showing, offers and closing is becoming very short. Perception is that if a home does NOT sell in the first week, there must be something wrong. So sellers need to come out of the gate with the best possible perception for potential sellers. Otherwise, a seed of doubt about whether there is something wrong with the property has been planted. That usually means a lower price and longer time on market.
Yes, staging can cost a few hundred dollars for a consult chock-full of actionable ideas, and you can spend a bit more to do some simple things for photos and showing. But that initial investment, even up to a few thousand dollars, can add nicely to the bottom line.
Contact us for a consult.