Well there are some statistics out there that really do show that staging is effective on particularly vacant properties!
Did you know that staged vacant homes sell 85% faster than unstaged vacant homes!
Home Staging is designed to increase the potential selling price and reduce the amount of time the property sits on the market. For every month your vacant property sits waiting to get sold your losing equity.
Real Estate Staging Association’s (RESA) statistics:
- Vacant homes previously on the market sat on an average for 277 days and still did not sell. The same properties were staged, re-listed, and sold in 63 days! That’s 78% less time on the market.
- Study shows 126 home owners sat with their properties on the market for 263 days before deciding to stage. That’s 9 months! When doing the math we can see that most home owners have an average mortgage expense of $1800.00 plus utility bills of around $300.00 that totals $2100.00.Therefore total carrying cost per month of $2100.00 x 9 months = $18,900 in expenses.
- It is a proven fact that vacant properties are the hardest to sell, and often face price reductions which equal another big loss of money that can be in your pocket!
CAN YOU AFFORD NOT TO STAGE
With the wide range of competition and properties available for sale people no longer view staging as a “nice to have” option! It is a marketing tool that is now “mandatory” to maximize your equity.
Did you know that 90% of prospective home buyers cannot visualize and see the true potential of the home when it is vacant and unstaged. (Kitchen featured BEFORE STAGING)
- 90% can’t visualize the homes potential. There are no guidelines as to how their furniture will fit, or how to arrange it.
- People only know what they see, not how it could be.
- Hardest to sell.
- Viewed 5 minutes.
- Cold, lonely impression.
- Lower priced offered.
- Looks smaller than when furnished.
- Awkward layout.
- No emotional connection. People fail to fall in love with wanting to live there.
STAGED VACANT HOMES
- Beat out the competition of other properties that are not staged.
- Buyers want to buy it.
- You create an emotional connection. It’s love at first sight!
- Viewed in 40 minutes.
- Looks bigger, brighter, cleaner, warmer and more loving.
- Can envision living in the space, and gets ideas on how to decorate. Builds an attachment between the home and the buyer.
- Shows well in photos and marketing.
- Sell more successfully.
- Receive a higher offer when the place shows value.
- Display lifestyle elements.
Vacant properties can send a strong message that the seller is desperate to leave because they’ve already re-located. This gives buyers an advantage when negotiating an offer and they will submit a much lower asking price.