Erica Christoffer is the product manager for REALTOR® Magazine, driving growth and helping make data-driven decisions for the editorial products and programs that fall under the publication's umbrella. Erica also co-manages the magazine's 30 Under 30 program. During her tenure as an editor, she wrote and edited hundreds of articles for the magazine and launched the Broker to Broker section. Connect with Erica via email: firstname.lastname@example.org.
Staging to Sell
Using a staging service helps homes fetch higher prices. It may be the sales tool you need to attract more buyers to your agents’ listings.
January 27, 2015
Have you ever considered providing home staging services on behalf of your sales agents and their clients? How about hiring an in-house stager as a resource for your team? Perhaps you should. According to a new survey from the National Association of REALTORS®, staging wins over buyers.
According to the 2015 Profile of Home Staging, a survey of more than 2,300 REALTORS® representing buyers and sellers, 81 percent say that staging helped buyers visualize the property as a future home, and 45 percent say staging positively impacts the value of the home if it is decorated to the buyer’s tastes. Staging even helps buyers overlook faults in a home, according to 28 percent of respondents.
Staging’s impact on a property starts online. Forty-six percent of REALTORS® surveyed say buyers are more willing to walk through a staged home they viewed online.
Nearly half of buyer’s agents surveyed say that buyers are willing to offer more for a home that has been staged. Thirty-two percent say a staged home increases the dollar value buyers are willing to offer by from 1 percent to 5 percent, while 16 percent say staging increases buyer’s offers by 6 percent to 10 percent.
An even greater number of seller’s agents say a staged home increases the dollar value buyers are willing to offer. Thirty-seven percent say staging raises offers by 1 percent to 5 percent, 22 percent of seller’s agents say it raises offers by 6 percent to 10 percent, and 8 percent say staging increases an offer’s dollar value by 11 percent to 15 percent. This provides a high ROI when the median dollar value to stage a home is $675.
Despite staging’s effectiveness, your competition might not be staging their listings at all.
Among seller’s agents surveyed, 34 percent said they stage all homes, 13 percent said they stage “difficult homes to sell,” and 4 percent stage only high-price-bracket homes. Meanwhile, 49 percent of respondents say they are only asking sellers to declutter or are not staging at all.
For brokers looking to gain an edge over nearly half of their agents’ competition, integrating home staging into your sales tools might be the way to go.