Why Staging Is Better Than The Dreaded Price Reduction

Tracy Sterling —  August 10, 2015

Having a home on the market in the month of August can often feel stressful–especially if it’s been sitting on the market throughout the summer. It is far too often that sellers turn to price reductions instead of looking for alternative ways to make their home stand out from the crowd. In fact, according to Zillow Real Estate Research Data, over 20% of the homes on the market in the DC area experienced a price reduction in the month of August (2014). It’s a shame all that money slipped through the homeowners’ and Realtor’s fingertips when home staging could have saved them time, and thousands of dollars.

Statistically speaking, staged homes sell faster and for top dollar. National statistics point out that 95% of ASP® Staged homes sell in 11 days or less and sell for 17% more. A homeowner can expect a substantial return on a relatively small investment, especially when compared to a price reduction. A recent HomeGain.com survey reveals that the return on investment in home staging is 586%.

When a home is not staged, the price becomes the only tool for leverage. Average price reductions in today’s market are between 10% – 20% according the the National Association of Realtors®. If your home is languishing on the market and un-staged, a price reduction is the next step. Though the investment in home staging will always be less than a price reduction on your home! Staging is a modest investment to help expedite the sale of your home, bring a measurable value and increase profit. Staged Interior will give you a clear marketing advantage and will work within your client’s budget to come up with the best plan for them.

Benefits of home staging for the homeowner:

  • Staged homes show better than the competition.
  • A home stager can provide a consultation with recommendations which serves as an action plan for a clean and clutter-free house.
  • Staged houses sell faster and closer to asking price – which means less carrying costs and sellers are able to move on.
  • Staging is a small investment with a great return.

Benefits of home staging for the Realtor:

  • A home stager is another voice to help homeowners understand what needs to be improved – from a buyer’s eye.
  • Staged houses sell faster which means less days on market – improving your DOM average.
  • Staged houses receive offers closer to asking price – which means more commission.
  • Staging consultations are a service you can offer as part of your listing marketing plan for a competitive advantage.
  • A staged home looks better in online photos and in person – Over 85% of buyers look online first to preview potential houses and screen out those that are unappealing. Staging ensures your house looks its best in photos, virtual tours, and brochures.
  • Buyers view Staged houses as well-kept properties.
  • Appraisers are more likely to appraise Staged houses at full value.

We realize that a full staging might not be for everyone, as this is an upfront, out of pocket expense and many people might not be in the financial position to make such an investment. We recommend at the very least, to invest in a home staging consultation from one of our ASP Home Staging Professionals. You will be surprised with this powerful information can do for your home sale.

When selling properties faster and closer to price expectations, Real Estate Agents will receive more referrals and a faster turnaround time to their next listing. We’re happy to answer any questions that you have. Let’s get started! Contact us.

Information and statistics sourced from Staged Homes.

 

Tracy Sterling

Tracy Sterling

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