Taking the time to stage a home can make a significant difference in how long that home stays on sale, according to the National Association of Realtors’ 2017 Profile of Home Staging report.
The report found that 62 percent of sellers’ agents say staging a home decreases the amount of time it spends on the market, with 39 percent saying it greatly decreases the time. Only 8 percent of sellers’ agents believe that it has no impact.
The reasoning behind home staging is to help potential buyers to visualize the property as their future home, with 40 percent more of them willing to walk through a staged home they first saw online. The most important room to stage, according to both buyers’ and sellers’ agents, is the living room, followed by the master bedroom, kitchen and then the outdoor space.
“Realtors know how important it is for buyers to be able to picture themselves living in a home and, according to NAR’s most recent report, staging a home makes that process much easier for potential buyers,” said NAR President William E. Brown.
How a home is staged can have a significant impact on the sale as well. Around 38 percent of buyers’ agents said that staging positively affects a home’s value if the home is decorated to the buyer’s tastes. This means that sellers who are staging need to consider who they are targeting or decorating to appeal to the largest audience possible.
The highest share of buyers’ agents (31 percent) believe that staging increases a home’s dollar value by 1 to 5 percent, 13 percent believe it increases dollar value 6 to 10 percent, 25 percent believe it had no impact on dollar value and 1 percent believe it has a negative impact on dollar value.
“While all real estate is local, and many factors play into what a home is worth and how much buyers are will to pay for it, staging can be the extra step sellers take to help sell their home more quickly and for a higher dollar value,” said Brown.