Staging is Your First Step when you list your home. What does “Staging” mean, what do you need to do next, and what is involved?
“Staging is an investment that helps maximize the rate of return on the sale of the property—and usually costs less than the first price reduction. With an average investment of 1% of the sale price into Staging, about 75% of sellers saw an ROI of 5% to 15% over asking price, according to data from the Real Estate Staging Association (RESA).” (nar.REALTOR.com)
Staging IS NOT the same as interior design.
Although it may seem similar, Stager’s focus is to make your home appeal to a broad audience by removing items instead of adding them. An interior designer is focused on pleasing one person – you. Stagers usually request the removal of personal items like family pictures and mementos as well as some furniture if it makes the room feel cluttered. (You may want to line up a storage unit to store your items until you move.)
Staging may also include repairs or replacements, painting, rearrangement of furniture, and sometimes replacing it with newer staging items. Be open to suggestions and recommendations. Their goal is for prospective buyers to become emotionally connected with your home enough to want to buy it.
Staging also takes a lot of planning and preparation on everyone’s part. For example, after your home has been decluttered and is void of personal items, it needs to be professionally cleaned. This isn’t done overnight, so your Stager should be scheduled before signing your listing agreement. If your Stager is your real estate agent, they will coordinate with you; however, if your Stager is a separate company, you will need to work with both to set the timeline for staging prep and implementation.
Above all, the house must be ready for staging ON the designated Staging Day. If your home is not prepared to stage, you may miss your timeline for your Staging and have to reschedule later, and you could miss out on other deadlines like your photo shoot.
Why is it so important to have your home staged?
Although Staging does have its costs, it’s worth having it done. Staging a home increases the home’s dollar value by between 6-10%.
· Forty-seven percent of buyers’ agents cited that home staging had an effect on most buyers’ view of the home.
· Eighty-two percent of buyers’ agents said staging a home made it easier for a buyer to visualize the property as a future home.
· Staging the living room was found to be very important for buyers (46%), followed by staging the master bedroom (43%), and staging the kitchen (35%).
Last year you didn’t need to stage your home. It was generally contingent within hours. However, the market is changing, and more listings will be staged to compete with other homes on the market. Now, it’s going to be a must. This is where you need to work with a professional agent who also is a professional stager and redesigner.