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The Benefits of Staging Your Farmington Hills MI Home for Sale
Congratulations. You’ve decided to put your Farmington Hills MI home on the market. In order for your home to sell quickly for the best price, you first need to get buyers interested in it. Home staging is the best way to market your home when you list it for sale. High-quality home staging appeals to buyers because it helps them envision your house as their home. People don’t just buy houses; they buy a story of what their life would be like in a new home. Many home sellers see a great return on their investment in home staging, including faster home sales and higher offers from buyers.
The key to home staging is tapping into a buyer’s psychology. It’s the same concept as packaging a product to make it appeal to a target market. Professional stagers know how to accomplish that while getting the most out of every room. If you are on the fence about whether to stage your Farmington Hills MI home for sale, the following information and staging statistics should help you make your decision:
Impact on buyers
Home staging helps accentuate the home’s best features while creating a warm and inviting atmosphere for buyers. Staging works because it considers the wants and needs of buyers and taps into their emotions when searching for a home. REALTORS® who typically work with home buyers say that many are willing to offer more money for a staged home compared to a home that’s similar but not staged. 81% of buyers say home staging makes it easier to visualize the property as their future home. And among REALTORS® who typically represent buyers, 49% report that most home buyers are impacted by staging.
Staging helps homes stand out and sell faster
The main reasons home staging has become so popular are consumer demand and the rapid increase of buyers searching for homes on the internet. Most buyers first see a home online so photographs matter. If a home looks cluttered for example, buyers may pass on seeing it in person. While there’s some debate as to whether home staging actually ensures higher offers, several studies indicate that staging does sell homes faster.
A well-staged home allows buyers to better visualize themselves in the space, and also makes them more likely to overlook small issues because they are already picturing themselves living there. A survey by Coldwell Banker Real Estate Corp. found that staged homes spend half the time on the market than non-staged homes. And a National Association of Realtors (NAR) survey found that the longer homes stay on the market, the further their price drops. One study found that homes staged prior to listing sold 79% faster than those staged sometime after being listed.
Staging helps maximize space
Maximizing space is key when it comes to staging and selling homes. However, it can seem a little more challenging when working with smaller spaces. Stagers have a lot of amazing tips and tricks that can really transform small spaces such as choosing light colors, sticking with a monochromatic color scheme, selecting the right size furniture, removing or opening curtains to let in more light, avoiding clutter, and not overstuffing shelves, just to name few.
Staging can help potential buyers see the openness of your home instead of focusing on the small square footage. Good staging will give every room a clear purpose, taking the guesswork out of things for buyers. For instance, if your living room is also a playroom, move the toys into the kids’ bedrooms until your home is sold. A professional stager will be able to walk through your home and create a flow that is beneficial to most home buyers.
When buyers can see how a space is used, they are less likely to get hung up on an unusual layout or a small floor plan, increasing their chance of putting in an offer.
Staging from a seller’s agent perspective
According to the 2019 Profile of Home Staging report by the National Association of REALTORS (NAR), from a seller’s agent perspective:
- Twenty-eight percent of sellers’ agents said they staged all sellers’ homes prior to listing them for sale. Thirteen percent noted that they only staged homes that are difficult to sell.
- The most common rooms staged included the living room (93 percent), kitchen (84 percent), master bedroom (78 percent), and the dining room (72 percent).
- It was common that sellers’ agents personally offered to stage the home (26 percent).
- When staging a home, 22 percent of sellers’ agents reported an increase of one to five percent of the dollar value offered by buyers, in comparison to similar homes. Seventeen percent of respondents stated that staging a home increased the dollar value of the home between six and 10 percent.
- Twenty-eight percent of sellers’ agents stated that there were decreases in the time on the market when the home is staged.
- The most common home improvement items agents recommended to sellers were decluttering the home (95 percent), entire home cleaning (89 percent), removing pets during showings (83 percent), and carpet cleaning (78 percent).
Hiring a professional stager or doing it yourself
Once you decide to stage your home, the question will be whether to do it yourself or hire a staging pro. Many factors can affect this decision, from the condition of your home to how much time and money you are willing to invest. If you don’t have the time, the know-how, or the desire to stage your home on your own, hiring a professional stager may well be your best option. The biggest benefits of hiring a stager are convenience and assurance that the job will be done right. Plus, if you don’t have an eye for decorating, you may not fully maximize your home’s value, even if you are willing to put in the legwork.
Hiring a professional stager means you don’t have to worry about deciding on all the visual and spatial details that go into impactful home staging. Of course, there is the matter of cost. Most professional stagers charge for a consultation, which can range anywhere from a couple of hundred dollars to over a thousand depending on the size of your home. The actual staging fee itself can range anywhere from $500 to $7,000, depending on how many rooms you need to be staged, the amount of work that’s required, and if there are any rental fees for furniture, art, and/or accessories mixed in.
While home staging may have attained its popularity in higher-priced and vacant listings, it now appears in all segments of the market. As a result, more savvy real estate agents recommend sellers have their homes staged before they list, no matter the price, size, condition, or location.
Award-winning Farmington MI REALTOR® – Tom Gilliam
Tom Gilliam is proud to be a trusted Farmington Hills MI REALTOR® for the past 20 years – offering his guidance and expertise to home buyers and sellers. Tom understands that selling your home is a significant financial and life decision and that you are looking for someone you can trust to get you top dollar. Tom partners with the most talented home stagers and real estate photographers/videographers to showcase your home’s features and help buyers envision your house as their home.
Tom will create a competitive marketing strategy that exposes your home to the public along with other real estate agents through the Multiple Listing Service (MLS), other cooperative marketing networks, open houses for agents, and so on. Your listing will appear on all the most popular real estate sites where buyers spend hours a day looking at such as Realtor.com, Zillow, Trulia, REMAX, Redfin, and dozens of others. Your home will also be featured on Tom’s own highly-trafficked website homes2moveyou.com.
As your agent, Tom will protect your interests, advocate for you, negotiate on your behalf, and do whatever it takes to get your home sold fast for the best price. Feel free to reach out to Tom directly at (248) 790-5594 or you can get in touch by email.
Article sources:
https://www.nar.realtor/research-and-statistics/research-reports/profile-of-home-staging
https://www.nar.realtor/sites/default/files/documents/2019-profile-of-home-staging-03-14-2019.pdf
https://magazine.realtor/home-and-design/feature/article/2020/03/why-staging-matters
http://realestateagentu.com/11-incredible-home-staging-statistics/
https://www.nar.realtor/infographics/profile-of-home-staging-2019
Real Estate Staging Association (RESA): Consumers Guide to Real Estate Staging
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