Tuesday, October 18, 2011

Home Staging: Facts and Figures

Home Staging.....most people reading this will probably already have a good idea about what Home Staging is, otherwise you would not have found my blog.  But for those who have come across this page unknowingly, prepare to be educated.

Home Staging is the practice of presenting a home for sale.  This means styling it so it appeals to its target market in the hope to obtain more interested buyers. The more interested buyers you have, the more negotiations take place and the higher the price rises.  If the parties are interested from the first viewing of the home online then they do not want to miss such a great house on the open market. Therefore a higher price and a quicker sale. You cannot lose!

Presenting a home can mean many different things. It can mean simply advising a vendor/owner of the best way to style their home with their own furniture and belongings, whether it be rearranging a few pieces of furniture or decluttering, but we will get to that later. It can be as simple as changing the bed linen, to as difficult as the suggestion of new light fittings or painting a wall. Home Staging can also mean furniture rental, whether it be one or two pieces, to furnishing an empty house....a home stagers dream job. I had a client that had just been through a divorce and his wife had taken some of the furniture, he had a few empty rooms in his house that needed furnishing prior to sale. He believed that if he furnished those rooms he would be able to get a better sale price, he was spot on.  Perfect example of only renting a few items of furniture. The vacant house is perfect for us home stagers to do a perfect job. Although some people believe only a few rooms needs to be furnished, I can seriously say those people are wrong! If you viewed a house at an inspection with only the lounge room and one bedroom with furniture in it you would start questioning why and completely forget about the house. The issue would be a major distraction and the house itself a minor one. It would be worth while to style every room in the house so that house looks like a display home. No one would agree on a building plan after seeing an empty display home, so why purchase an empty house. Staging an empty house can be expensive but it is definately worth it. You will see why from the statistics below. Afterall staging a home is an investment in the sale price, not a cost of sale.

So we have been through general presentation advise and furniture rental, another great option in home staging is asking for some help to declutter your home. Decluttering sounds a bit surgical and it basically is. It is going through a home room by room and helping to empty out the things that will not help sell your home. For example, family photos, trophies, toys, kids artwork, pet supplies and all of those personal things that families gather over time. It might sound brutal but what you like, may not be what your purchaser likes. Any possible purchaser should be able to walk into a home at inspection and imagine what their belongings would look like in the home, their family photos and their decorations. They will not be interested in how big your family is and what acheivements you have reached in your life. Some people will find this a difficult task, however just think about it as you starting to pack up your home, and you have started with these most personal items.

As well as staging an empty house, decluttering would have to be one of my favourite jobs, im extremely organised and I get to help other people be the same. And if it could help them get more profit for the sale of their home then that is even better.

Now for those statistics I told you about. Following are the reasons in a nutshell why every person who sells their home should use a Home Stager, preferrably me...
  • Staged houses spend on average 50% less time on the real estate market than any unstaged home.
  • Home staging increases property value on average by 8% above the listing price. Non staged homes only increase an average of 1.6% of the listing price.
  • 82% of vacant homes sell faster when they have been staged.
  • 90% of buyers cannot visualise the potential if a home is empty.
  • 80% of people choose to view a home at inspection based on the photos on the internet.
  • Buyers generally only look at 3 houses a weekend, you need to make your home stand out.
So based on these statistics alone, how could anyone say no to home staging. If you have your home staged, then have the agent do all the marketing you can obtain every advantage of the statistics abovet. Not only will your house be viewed several times on the internet but 80% of those viewers will attend your house, your house will sell in 50% quicker time and for a price approximately 8% higher than the listing price, imagine that if your house were on the market for $500,000, your house would sell for approximtaley $540,000.  If that were you principal place of residence, thats $40,000 tax free money in your pocket. Home staging would cost less than 10% of that amount.

So if you are selling your home and you would like some help, give me a call, below are the services that I can offer you:

Home Staging
Furniture Rental
Property Styling
Rental Property Preparation
Project Management for renovations
Consultations for Property Developers

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