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Have a Vacant Home to Sell? Strategize with Home Staging for Your Best ROI

Tuesday, August 6th, 2013
by Sherry Castaldi
Category: Home Staging

Sure you know that Home Staging is all about making your home appeal to more buyers so it can sell faster and for more money. We also know that empty vacant homes do not show well.

Since over 90% of buyers start their search of homes on-line, trying to get any kind of perspective or space concept of a blank wall and empty room is all but impossible. If most buyers are forming an opinion of the home in the first 7-10 seconds of arriving, forget accomplishing any type of the emotional connection to a vacant home all together. 

Companies with a product to sell, invest in marketing to showcase their product to appeal to the potential buyers of that product, whether it is clothing, perfume, cars, food, etc. By increasing the attractiveness of a product increases the demand and therefore the bottom line for that product’s sales.  Doesn’t it make sense to invest in the allure of your home for the same reason?

Suppose there are 2 vacant homes available for sale, each being marketed in the following ways:

  • Home #1 is vacant and totally void of any furnishings. It looks barren and feels cold to the buyer.
  • Home #2 has certain strategic rooms to the entire home staged. The buyer is able to see the potential of the home and can easily connect to the home with the completed look of the rooms which include furnishings, accessories and artwork, increasing the overall wow-factor emotional experience for the buyer.

In controlled tests selling identical homes, professionally staged vs. not staged, the non-staged homes sold in 102 days, while the staged houses sold in 45 days (Real Estate Staging Association)  It is estimated that only 10 percent of buyers can visualize a home’s potential. That means that 90% of your potential buyers cannot see past any negative characteristics of your home!

If the buyers gravitate to the staged home and you are the seller why would you not want your home to be the frontrunner of the housing competition?

Too often sellers say they do not want to spend any more money on the home they are now ready to sell. However, if your home is your largest financial commodity, doesn’t it make sense to invest in this asset to gain the largest potential ROI (return on investment) when it comes time to sell this financial asset? Consider the following staging statistics:

  • By investing 1-3% of your home’s list price, you can expect an 8-10% return on investment according to NAR (National Association of Realtors)
  • Sellers who spent $500 on staging recovered over 343% of the cost when they sold their home reported
  • In Homegain’s 2012 Home Improvement survey staging received a 196% ROI
  • On average, a staged home will sell 17% higher than a home that is not staged by the US Housing and Urban Development.
  • RESA (Real Estate Staging Association) 2012 survey indicates staged homes received their first offer on average 26 days after being listed and when investing in staging before listing the property they sell on average 87% faster.

If as a seller you realize you are actually investing in your product for a higher return on profit, doesn’t it make sound financial sense to call in a professional home stager and invest in professional staging when it’s time to sell your vacant home?

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