What is Home Staging and Why Would You Go Through the Bother?
Home staging is the act of preparing a private residence for sale in the real estate marketplace. The goal of staging is to make a home appealing to the highest number of potential buyers, thereby selling a property more swiftly and for more money. Staging techniques focus on improving a property's appeal by transforming it into a welcoming, attractive product that anyone might want. Wikipedia
Staging your listings and open houses is one of the most underutilized marketing tools in the real estate profession. People buy on emotion and the feeling they get when viewing your home. The importance of setting the stage and creating that emotion for the buyer is huge.
If you would have Googled "home staging" five years ago you would have found 300,000 results at the time. Today if you searched "home staging" on Google you would have more than 2.75 million results. With current market conditions staging a home is one of the fastest growing marketing tools in real estate.
Procter & Gamble did a study of buyer behaviors and discovered the most important characteristics of a home buyer are:
- 69% Location
- 12% Curb Appeal
- 10% Homey Feel
- 9% Size
Note... 78% of the buyer's buying decision is already predetermined. Agents and their client can't do anything about their location, or size of home. We can only do something about the curb appeal and homey characteristics of their listing.
In the study they also discovered the most important factors for the buyers first impressions of a home's interior were:
- Cleanliness, Clutter and Odor 35%
- Decor 21%
- Condition & Lighting 16%
- Floor Plan 15%
- Rooms 13%.
Note... 72% of home buyer's first impressions and feelings can be controlled by the seller with the use of effective home staging. We cannot control floor plan or rooms because they are predetermined.
Here are some home staging ideas to consider:
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UN CLUTTERING - Most important thing to do in a seller's home. This home staging tip alone impacts 35% of our buyer's first impressions and is 50% of what sellers can control. Bring a bundle of complimentary boxes to your marketing presentation. Suggest they keep those personal belongings safe and store them during our marketing period.
ODORS - # 1 condition preventing home buyers from buying - 29% of the reason buyers don't buy. NAR reports 67% of agents don't like or feel comfortable talking about odor and cleanliness. Very sensitive discussion but critical to their pricing results.
PETS - They are a member of the family so be careful. 63% of households have pets. Emphasize almost 40% of homeowners do not own pets. (Allergies etc.) 55% of homeowners don't own a dog and 60% of homeowners don't own a cat. Suggest a pet daycare, grooming, keep them safe with a neighbor or friend during marketing. Moving and selling a home is as stressful on a pet as it is on a child....ask your client "how can we keep your pet safe and happy"?
SMOKERS - 20.9% of the population smokes today. That means almost 80% of our buyers are non smokers. Would you be able to smoke outside while the home is on the market?
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Ask yourself and your sellers these questions:
- What does your audience care about?
- What do they see?
- What are they going to feel?
Become an expert on information for sellers to stand out from the competition. Provide valuable information on buyer behavior and the importance of integrating pricing and home staging in today's challenging market.
Strength and courage,
Wade
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The Importance of Real Estate Home Staging
