Is It Really Worth Staging a Home in a “HOT” Market?
Despite the chill in the air, the real estate market continues to heat up in the Greater Chicago area, and in fact across the country. Residential sales and prices in our area saw big gains last month with the biggest spike in home sales since September 2013, according to data from trade group Illinois Realtors first reported by Crain’s.
When the housing market is “HOT”, that means inventory is low and there aren’t enough homes available for sale, making this ideal for sellers. But, in a market like this does a seller really need to pay to stage a home? The short answer is YES.
If you’re looking to sell a property quickly for top dollar then staging a home is key. There are still many benefits to having a home staged, and not sell “as-is.”
Attract More Buyers with Staged Photos
Most homebuyers will start their homebuying search online first before making a decision to see the property in-person. Consider photos as a home’s currency online, and the more appealing they are, the more views the listing will receive. First impressions matter, which increases the need for staged photos.
Showcasing a Buyer’s Lifestyle
Home staging allows buyers to understand how they would actually live in the property. Only 10-percent of homebuyers can see the potential of a home, so most won’t be able to naturally envision how an empty space could function.
That’s why it’s important to take the time to research the potential buyer and stage the property first. Our team will remove the seller’s specific tastes and preferences and focus on what the buyer desires. It’s our job to keep them engaged as they tour the property, emotionally connecting them to make an offer.
Enhancing Positive Features of Property
Every home has positive and negative features that alter a homebuyer’s decision. Staging can downplay the negative challenges of the space, such as odd angles, cosmetic repairs, and small spaces while making sure the buyers stay focused on all the positive upgrades and luxuries the property can provide.
Staging makes minor renovations or repairs that need to be made less noticeable. Our team will recommend though, cost-effective updates needed to show that the property is worth the sales price.
Staging = More Money + Less Time
According to the RESA 2020 Consumer Real Estate Staging Guide, who surveyed 13,000 staged homes, they found that 85% of staged homes sold for 5-23% over list price averaging just 23 days on market. Homeowners who decide to skip home staging when selling can end up leaving thousands of dollars on the closing table.
If you’re ready to learn more about creating a winning situation for all parties involved when selling a home, let us help you get your property prepared for sale even in a hot market. Our team is ready to walk you through the process and set up a home staging consultation with you here.