Home Staging: Will It Help Sell My Property?

This is part two in our on-going series about Home Staging, please stay tuned for more to come…

The term “home staging” is one that has been used more and more in both the real estate industry and in the homes of those looking to sell their current property. According to the Real Estate Staging Association (RESA), home staging is the “act of preparing and showcasing a property for sale” using best industry practices to increase buyer attraction.

Home staging is often a topic of debate among both real estate professionals and home sellers, raising the question:

Is it really worth it?

Studies performed by the RESA strongly support the use of home staging before listing a property, but particularly in situations where the property remains unsold after an extended period on the market. These studies, performed in 2013, concluded that, on average, homes staged prior to being listed received their first offer in 23 days, while un-staged homes sat on the market unsold for an average of 143 days. These same homes, after being staged, went on to sell in an average of 40 days. Home staging is an invaluable tool for sellers, adding appeal to buyers, decreasing the likelihood of buyers asking for concessions and generally selling for more money.

for-web-RESA-2013-Statistics

Hear what Real Estate Mogul & Shark Tank Judge, Barbara Corcoran has to say on the topic of Home Staging and whether she thinks it’s worth it:

Knowing now that staging can effectively help a seller get the best possible price for their property, what are some of easiest, most cost effective things that you should repair or replace while going through the “staging” process in your home?

Bathrooms:

  • Running Toilets
  • Leaky Faucets
  • Slow or Clogged Drains and/or Showerheads

Kitchens:

  • Leaky Faucets/Large Appliances
  • Slow or Clogged Drains – Sink, Garbage Disposal, Dishwasher, Refrigerator Water Dispenser

General Maintenance:

  • Ripped, Torn, Stained or Significantly Worn Carpets
  • Broken Light Switches/Fixtures (Make sure all your lights have working light bulbs!)
  • Loose or Broken Door Fixtures (Cabinet Doors & Knobs included)
  • Sticky Locks or Door Locks that do not work properly
  • Cracks or Holes in Walls – Check ceiling and the seams of walls carefully
  • Sticky or Non-Working Windows (Check for holes in the screens too)

Want to do a quick calculation of how much staging could affect your sale?

home-staging-calculatorWant more information on home staging? Check out RESA’s Consumer’s Guide to Real Estate Staging™.