The Benefits of Staging Your Farmington Hills MI Home for Sale

The Benefits of Staging Your Farmington Hills MI Home for Sale

  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

Features To Renovate Gets The Home Sold

Features To Renovate Gets The Home Sold

When you renovate features in your home, you want to get the most bang for your buck. Not only do you want to make your home a better place for you and your family to live, but you also want your renovations to add to your home’s resale value.

But what, exactly, are the features that will help your home sell faster?

Give Your Renovations Some Character

According to recent data from Realtor.com (which analyzed more than 1 million single-family listings), the top three renovations that will help you sell your home quickly and at a prime price point? A chef’s or gourmet kitchen, a theater room, and a home gym. These renovation projects were named the “most profitable home features for sellers banking on quick sales.”

Those three features were deemed the most profitable. But they weren’t the only renovations that helped homes fly off the market. Also included on the list of features that will help your home sell faster include a three-car garage (#4), solar panels (#5), a home office (#9), and an in-ground pool (#10).

As the new year is here, plenty of homeowners look for ways to renovate their spaces to keep them feeling interesting and updated. If you’re preparing to put a home on the market, keeping up with trends is key because unless your prospective buyers are flippers, staggers, or redecorating fiends, nothing can make would-be buyers turn tail faster than some outdated decor

Also, keep in mind that there are some renovation trends that you should retire at this time, features such as:

  • Granite Counter Tops
  • The Edison Bulbs
  • Statement Range Hoods
  • All White Kitchens
  • Barn Doors

You can read more of whats out and whats in Right Here

The Renovation Takeaway

If you’re thinking about renovating and adding features to your home, you’re going to want to think about your return on investment and choose a renovation that’s going to help your home sell quickly and profitably with character.

Staging For A Higher Sales Price

Staging For A Higher Sales Price

Many potential home sellers think staging is a waste of money. But it turns out, staging has a significant impact on how quickly, effectively, and profitably you may be able to sell your house.

Why? Because staging is a key component of drawing in buyers. According to the National Association of Realtors 2017 Profile of Home Staging, a whopping 77% of buyers agents said a home that is staged made it easier for their clients to visualize a home as their own. And the more a buyer is able to see themselves living in a home, the more likely they are to make an offer.

Even more good news: According to the same report, 50% of seller’s agents see in increase in the offers their clients received from buyers when their house was staged—and 39% said staging greatly decreases the amount of time a house is on the market.

Because a staged home has such a significant impact on the amount of time a house sits on the market and the ultimate offer price, you’d think everyone would be doing staging… but that’s just not the case. Only 25% of sellers pay to have their house staged.

Any Realtor or buyer will tell you the benefits of staging a home for sale. There are important benefits that make it worth the effort. Below are things to consider when deciding whether to stage your property.

The Benefits Of A Staged Home For Sale

The fact is, the way your home is staged can truly impact the appeal of your property and its selling price. Staging highlights the best elements of your home and can minimize the not so great ones. It also enables buyers to visualize themselves living in the space. These impressions can increase the interest level of those buyers. Ultimately, staging your listing can help it go under agreement sooner and for more money.

Approaches to Home Staging

There are various ways that a home may be staged and options may differ based on specific properties. Here are just a few approaches that your Realtor may cover with you:

  • Organization
  • Clearing the Clutter
  • Changing Colors an Decor
  • Changing Furniture
  • Lighting Aspects

When staging your property for sale, you want visitors to think that it can be their home and not that they are entering yours. Although people are purchasing the home itself and not your personal belongings, it is unavoidable that those belongings and how they are presented may affect their feelings about the home.

Debating Whether to Stage Your Property

If you want the maximum sales value, you must acknowledge the benefits of staging Farmington Hills homes for sale and make the effort to do it properly. You do not have to figure it out on your own. Rely on real estate experts for ideas. Their experience with home buyers and selling other homes may be a huge asset. For further information on listing and staging your home, contact Tom Gilliam at RE/MAX Classic.

The Takeaway

If you’re getting ready to sell, stage your home. Staging can help your house stand out from the competition, and it can potentially fetch a higher offer faster than you thought possible.

 

Listing: Open House Modal

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