There were high hopes for the 2015 National Association of Realtors Profile of Home Staging . We had hoped to see the NAR home staging survey would demonstrate that staging is a widely accepted practice. We hoped for big numbers that prove the marketing tactic works. We did get some good numbers, if you mine the data carefully, but on the whole, the report suggests that there is both opportunity and an uphill battle still ahead.
Home Staging Survey Highlights
The Good News
We are seeing that most realtors® who represent Sellers believe a benefit of staging is that Buyers will offer more for a staged home. This tells us that staging increases the perceived value of a property. Home stagers have been saying this for years, and it’s great to finally have such a concrete stat to back this up. Some realtors® – a whopping 20% – think the offer is over 6 to 10% higher. That’s the Buyer’s initial offer so the whole transaction starts on a higher plane (and if it goes into a bidding war, which has happened to the last 3 properties staged by Amazing Space NYC, the final sale price could soar beyond that 10% figure). This is great proof that staging works.
The Opportunity
If only 34% of realtors® stage all homes, then to be a listing agent who stages is a fairly substantial differentiator, no? Wouldn’t you want to be a realtor® whose listings warrant negotiations that start 10% higher than ask?
The home staging survey also identified which rooms are the most important to stage if the budget is tight and you can only do a few. Obviously, it is more helpful for the buyer is you stager their most used spaces – the living room, kitchen and master bedroom. Depending on where you are the dining room is a “long to have” feature. As in anyone moving out to the suburbs from an apartment in a city. For them, the dining room is critical. That space may be used for other things, but they want to know that it is possible in the space. The rest, you do as you can. Rooms with weird shapes or sizes are better staged. It’s just easier for the buyer to have a sense of what might fit.
The Battle
The home staging survey also identified which rooms are the most important to stage if the budget is tight and you can only do a few. Obviously, it is more helpful for the buyer if you stage the most-used – the living room, kitchen and master bedroom. Depending on your market, the dining room is coveted, especially for buyers moving out to the suburbs from an apartment in a city. For them, the dining room is critical. Though the space might wind up being used for other things, buyers want to know that there is a dining room for Thanksgiving dinner with the extended family. The rest of the rooms, do what you can within the budget parameters. Note that rooms with weird shapes or sizes are better when staged. It’s just easier for the buyer to have a sense of what might fit.
Click this link to read the NAR home staging survey yourself.
