A well-staged listing is a many-splendored thing. Not only does it give potential buyers a chance to visualize your home's design potential, it turns out that staging your space (aka showcasing your home with furnishings) might very well help your home sell faster—and for more money. According to the "Staged to Sell" study released by UpNest, a free website service that allows you to compare multiple agents and real estate quotes, home staging is also a powerful tactic; one that can give you a competitive advantage in today's cutthroat housing market. Still not convinced?
Read ahead for a breakdown of UpNest's more interesting discoveries about the benefits of staging your home before selling.
1. Buyers spend 5 minutes in an empty home, but 40 minutes in a furnished one.
Believe it or not, UpNest's research reveals that the homebuyers only spend about five minutes inside of a vacant listing, as opposed to the average 40 minutes they spend touring a furnished one. Translation: a staged home gives prospective buyers the opportunity to get emotionally attached to the space; which undoubtedly leads to quicker sales for higher values.
2. Staged homes sell 87 percent faster.
According to UpNest, over 90% of buyers use internet for their home search. Well-staged homes ensure better images and video tours, which often translates to more buyer interest. In fact, RESA (the Real Estate Staging Association) homes staged before listing sit on the market for an average of 23 days and sell 87% faster than homes staged post listing (which on average spent 183 days on the market). Additionally, another study by the IAHSP (International Association of Home Staging Professionals) concludes that 95% of staged homes sell, on average, in 11 days or less (compared to 90 days for un-staged spaces). It's safe to say staging is a good way to expedite your selling time.
3. . . . and for 17 percent more money.
UpNest's study shows that professionally staged homes have a higher perceived value by buyers than non-staged ones, which inevitably leads to higher offers. Research suggests that on average, a staged home will sell for a whopping 17% percent more than a comparable un-staged space. Additionally, the study says that 69% of buyers will spend up to 5% more in dollar value for a staged home versus an empty one (while 38% will spend up to 10% more).
4. Staging certain rooms can make a difference.
Not so surprisingly, UpNest's study shows that staging certain rooms in a home can have a bigger impact on buyers than others. For instance, research suggests that staging a living room and kid's room makes more of a difference than a staged dining room; while a well-staged bathroom and master bedroom can leave much more of an impression on prospective buyers than a furnished kitchen or guest bedroom.
5. Hiring a professional stager is easy... and worth the investment.
Whether you're a first-time seller or a seasoned agent, UpNest's data overwhelming proves that staging your home before listing is an easy investment that truly pays off. Not only have websites like RESA streamlined the process of finding a professional stager in your area, research shows that when sellers spend around 1% of their home's value on staging, they see on average a 1000% return of investment—yes, 1,000-percent!