Everyone who lists a home for sale wants to sell that home for as much money as possible. But what are the best ways to make that happen?
It doesn’t all depend on the state of the economy, the local housing market, the condition of the home, or the prevailing interest rates. Much of the responsibility for maximizing your return lies with the choices you make before you actually list your property.
Here are some proven methods to get the best offer possible, and to sell your home quickly:
- First, make sure that your home is in the best condition it can be. Keep up with routine maintenance; correct any deficiencies that you know of.
- Second, find a real estate agent you trust, one who has your best interests in mind and will give you great advice.
- Third, “stage” your home.
Staging Is Merchandising
Statistics compiled by the National Association of Realtors and by staging professionals confirm that staged properties sell more quickly and for higher dollars than comparable vacant homes, or homes that are not staged.
How fast and for how much? The statistics are impressive. A Real Estate Staging Association survey reports that staged homes spend as much as 72% less time on the market than their competition. More than 30% of real estate agents report that staging can boost the dollar amount of offers between one and five percent. Another 22% believe that the actual dollar return is closer to six to 10% more.
The most important rooms to stage are the living room and kitchen, followed by master bedroom, dining room and bathrooms.
Why Does Staging Work?
There are a number of reasons for the phenomenon. First, it’s difficult for sellers to be objective about their own homes. A home may suit your needs perfectly, be attractively decorated, and have a great floor plan, but that doesn’t necessarily mean that a prospective buyer will love it.
Staging highlights architectural details, emphasizes “good bones” and applies corrective “makeup” to spots that need a bit of camouflage. Consider the difference between a casual snapshot and a glamor photo, and you’ll understand the principle behind staging. Staged homes are more photogenic — and up to 90% of buyers today shop online before deciding what home they actually want to see in person.
Finally, no matter what condition your home may be in, staging helps buyers visualize their own possessions in the space, rather than seeing the property as someone else’s house. It’s a critical difference, one that 81% of buyers cite as the reason for choosing one home over another.
What Does Staging Cost?
A Great Percent agent stands ready to help you through all the decision-making and details of selling a home, and can provide valuable advice about staging as well. But, even if you spend as much as one percent of the listing price in order to have your home professionally staged, you stand to benefit greatly. Consider the numbers: Staging represents a good deal for the seller and is appreciated by most buyers.
It’s also a way to simplify the prospect of packing and moving by paring down your belongings in advance.
Any way you look at it, staging is a dollars and cents decision that makes a lot of sense.