What You Need to Know About Staging a House
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A carefully staged home isn’t just clean and furnished. It’s painstakingly prepared in a way that allows potential home buyers to understand what the space looks like when occupied, while also allowing their imaginations to picture what could change after they move in.
From fresh flowers on the kitchen counter to area rugs carefully positioned in the master bedroom, staging is an involved process. However, the reward is worth the investment. Keep reading for staging tips and guidance that can help you and your clients increase the odds of a faster and more financially fruitful sale.
There are a few factors that are almost always high priorities when an individual or family puts a house up for sale, namely the price and the time it takes to find a buyer. A report The Real Estate Staging Association and shared by The Mortgage Reports found staging a home before putting it on the market leads to a 73% increase in the speed of sale as compared to non-staged houses. While the exact financial details will vary from one home to the next, a short sale timeline means less money spent on upkeep and maintenance.
Receiving payment sooner also ties into the time value of money concept. This states that an identical sum is more valuable when received now than in the future because the money can be invested or otherwise leveraged, as explained by Investopedia.
As we touched on previously, a staged home has an average lower time to sale than an empty one. For that reason alone, it’s better to sell a house staged than empty.
Prospective buyers may have drastically different experiences in a staged home versus an empty one. An empty home isn’t particularly inviting or engaging. The National Association of Realtors said many flaws are more visible when a house is empty. Additionally, rooms can feel smaller without any furnishings, and it’s harder for potential buyers to picture how the home could look after they move in with nothing for comparison.
While it’s important to remove personal items from a staged home and complete a thorough deep cleaning, it’s also vital to strike a balance. A staged home is designed with the view of a possible buyer in mind, providing some inspiration instead of a totally blank canvas.
Sometimes, the best advice focuses on what not to do in a given situation. Because staging a home is a specialized and relatively new creative process that has a very specific target audience, it helps to understand both best and worst practices. Whether you and your clients will stage the house yourselves or work with a professional, keeping an eye out for these concerns can help you realize an effectively staged home.
Avoid Bright Colors and unique designs
A staged house is designed to appeal to a pretty specific group of people – home buyers in a given area. But it needs to appeal to the greatest number of people in that group for the greatest chance at success. HGTV strongly suggested avoiding things like brightly colored paint and less-common details like shag carpet.
A successfully staged home should encourage thoughts of how to rearrange or redesign. That process should seem easy, not difficult or complicated. An approach that emphasizes more neutral colors and common furnishings can help potential buyers start this train of thought.
A neutral base is important. But a staged home devoid of any and all personality simply won’t capture the attention or imagination of most potential buyers. Homelight pointed out that a neutral base can be achieved with paint and furniture. Then, some targeted splashes of color can be added through items like throw rugs and pillows. For homes with high ceilings and lots of natural light, an accent wall may even be an option.
Staging can be expensive, whether you decide to handle the costs in return for a higher closing price and quick sale or your clients do the same. With the goal of a faster process, it may be tempting to pay for significant and expensive changes that are in line with current trends.
The Spruce said this isn’t always necessary. A number of smaller changes may have a greater cumulative effect and save you or your clients money as well.
Real estate agents count on commissions to fuel their work, and those payments are often unpredictable. At Just Commission Advance, we’re dedicated to providing you with cash advances on pending sales that can smooth out budgets and help you be the best real estate agent you can be. Apply for your advance today!