If you have been an investor for any length of time at all, you will have learned, somewhere along the line, not to show your houses to potential buyers until the all repairs have been completed and the project is finished. Most buyers have little or no vision. All they can see is the work you are doing and the things that still need to be done, not what it is going to look like when you are finished. Only about 10% of homebuyers can actually visualize the potential of a vacant home; that means that you are losing 90% of the people that look at your home if you don’t have it staged.
According to California Association of Realtors (CAR), the average home buyer spends less than 15 minutes walking through each home and they don’t start ‘putting’ or ‘seeing’ their furniture and other items in the house until about the 3rd time they go through. In addition, most homebuyers instantaneously make the decision to buy based on their immediate first impression. In a slow or buyers real estate market, you have to capture their attention and do it quickly. Otherwise, your house may never get another chance – the buyer may never come back to see your house. This is where staging comes in.
Staging is the art of turning a house into a home. Staging, done correctly, creates or enhances a Strategic Selling Point (something memorable about your house that stands out and inspires buyers to purchase your house over and above all the others on the market). Staging helps the buyers ’see’ their furniture and items in the house. It creates individual focal points/rooms that fell comfortable to the buyer. Staging should create a positive emotional response, a sense of lifestyle and increases the buyer’s desire to live in your house. Buyers see themselves relaxing, raising a family or entertaining friends in your house.
Statistics provided by US Housing and Urban Development show that staging a home, even in a slow or down market, commands an average of:
· 17% higher price and
· Sells 7.4% faster than a non-staged home.
During the housing boom in 2004 – 2006, a staged home not only sold faster for more money but most of them sold over listing price by 6.32%. In a down market, you may not see a staged house going for more than listing price but you will almost definitely see it staying on the market for fewer days which can mean additional money in your pocket.
Remember, purchasing a home is an emotional decision, not a logical thought process.
For minimal cost, I will gladly help you ’stage’ your home for the most appeal. If you live in San Luis Obispo county, give me a call, otherwise contact me via email.
Photography by Ashala of Cayucos, CA.