Today on the blog, I am actually sharing an article published by the NAR (National Association of REALTORS). Although published in 2012, this article is still relevant today and will continue to be in the future.
Many years ago, I coined the saying “The investment IN staging your home will always be less than a price reduction ON your home!" And that statement is as true today as it was all the way back in 1973, when I developed the concept of staging.
The math is pretty simple. Imagine a $300,000 home that’s been on the market for six months without selling. The seller is becoming more and more frustrated and considers a price decrease of 5 percent. That’s $15,000. Now imagine investing only a fraction of that sum in staging and selling the home much faster.
That’s what staging will do, and the numbers are in to prove it – time and time again.
Recent statistics gathered by stagedhomes.com shows that 94 percent of homes staged by an Accredited Staging Professional sold in 29 days or less, compared to an average of 145 days for homes that were not staged. What’s more, homes staged by Accredited Staging Professionals stay on the market 83 percent less than a home that has not been staged.
For home stagers and real estate agents alike, it’s imperative to showcase the positive impact of home staging, both visually by showing examples of past staging projects AND by sharing statistical evidence that home staging works and that the investment is worth it many times over.
So next time a seller brings up the subject of a price reduction, make sure to share the positive impact of home staging. The investment will be less and the impact most likely more.
Written by Barb Schwarz
ABOUT THE AUTHOR: Barb Schwarz, ASP, ASPM, AB, IAHSP, is the creator of Home Staging® and the CEO of www.stagedhomes.com. She is the IAHSP founder and chairwoman of The Board of The International Association of Home Staging Processionals and Foundation.