Home Staging

STAGED & SOLD Sell Your Home Like a Pro ow that the real estate market has significantly rebounded, you think you're ready to sell. Well, so do countless other Americans whose houses have been on the market for months. How do you stand out from the competition? Stage your home to sell. If done properly, it could be the difference between your home sitting or selling. What Is Staging? "STAGING IS PREPARING A HOME FOR SALE SO THE BUYER CAN MENTALLY MOVE IN," SAYS BARB SCHWARZ, PRESIDENT OF THE INTERNATIONAL ASSOCIATION OF HOME STAGING PROFESSIONALS. TOP 4 REASONS to Stage Your Home YOU WILL MAKE MORE MONEY. A survey by Coldwell Banker Real Estate Corp. found that staged homes spent half the time on the market than non-staged homes and sold for more than 6 percent above the asking price. 2. YOUR HOUSE WILL SELL FASTER. The National Association of Realtors (NAR) survey found that the longer homes stay on the market, the further their price drops. Read on to see how staging helps sell your house faster. 4 YOUR ONLINE PHOTOS WILL STAND OUT. Same NAR survey found that 90 percent of potential buyers search online first. YOU WILL MAKE YOUR MONEY BACK. 3. The NAR survey also found the average staging investment is between 1 and 3 percent of the home's asking price, which generates a home-staging ROI of 8 to 10 percent. Association completed several analyses of whether their staging efforts truly pay off for homeowners. RESA found that, on average, staging effectively sells a home faster than a non-staged home. The study included 174 unstaged homes that were on the market an average of 156 days before homeowners agreed to allow their homes to be staged to sell. Another study looked at 410 homes that were staged before they went on the market; these homes also sold, on average, in 42 days after staging. Once those homes were staged and relisted, the homes sold in an average of 42 days, which makes a total average of 198 days on the market. HOMES STAGED PRIOR TO LISTING SOLD IN HOMES STAGED POST-LISTING SOLD IN 198 DAYS. 42 DAYS. SOLD SOLD Once staged, homes spent Homes staged prior to listing sold 73 PERCENT 79 PERCENT 73% 79% faster than those staged some time after being listed. less time on the market. Is the Cost Worth It? According to the RESA study, the average home is on the market for 5½ months. This means the seller is responsible for the mortgage and any other expenses for 6 months. A formula created by RESA helps to calculate the expenses. The following is based on the current monthly mortgage payment for the median-priced U.S. home. Average time a staged home spends on the market : Average time an unstaged home spends on the market: 4 MONTHS 6 MONTHS $6,366 $4,244 Monthly mortgage amount without utilities : Monthly mortgage amount without utilities : $1,061 $1,061 4-month total: $4,244 or cost to list a staged house. 6-month total: $6,366 or cost to list the house unstaged. SAVINGS IN MORTAGE PAYMENTS FROM STAGING THE HOME PRIOR TO LISTING: $2,122 Only mortgage payments were considered, more savings are possible if utilities are included. The 5 Keys to Staging Like a Pro COLOR Repaint the interior of your home in warm or soothing colors-they are more attractive to the eye. Lighter shades help buyers imagine their own items in your home. MAINTENANCE DEPERSONALIZATION & DECLUTTERING Remove family photos and move personal items and possessions out of sight. This helps buyers picture themselves in your home instead ofbeing distracted by your stuff. Deep clean throughout, with special focus on the kitchen and bathrooms, and attend to any unfinished home improvement projects. ПППMmm ППmmmhmL FURNITURE PLACEMENT EMOTIONAL CUES Highlight architectural features of your home, such as a fireplace. scale of the space, and make sure to define the function of each living area. Intentionally decorate the space to help potential buyers iture to wcase the new life would be in your old home. Artful details such as lit candles and flowers can help buyers connect with the house. my nove SOURCES: REALTOR.ORG, NYTIMES.COM, PARADE.COM, REALTORMAG.REALTOR.ORG, REALESTATESTAGINGASSOCIATION.COM