5 Home Staging Statistics that Prove Staging is Worth the Investment
Updated: Oct 30, 2018
Since starting my Home Staging business, I have realized how much staging really is an investment! Clients pay X amount of dollars to have me come and pretty up their properties and they pray to the real estate gods that they get their money back on the sale.
As a stager, I fully understand and appreciate the value of staging. In fact, that is why I started my business! I had been flipping houses and I didn't think they looked as great empty. I had some spare furniture and I invested a bit of money into some more inventory and BAM I was hooked! The first flip I renovated and staged sold for $35K over asking. As a side note/ fun fact, most of my profits from that property went to buying 3+ more houses of inventory so I can make other peoples homes look beautiful and sell for more money. But that's a different story for a different day!
For non-stagers I understand that it may be difficult to see the whole picture. Although that first property of mine is just one story of many successes, I understand that proof is ALWAYS in the numbers. That is why I am going to share some hard facts that prove staging is definitely worth your while.
1. In controlled tests selling identical homes, professionally staged vs. non-staged, the non-staged houses sold in 102 days while the staged houses sold in 45 days. (Real Estate Staging Association)
Time on market is a huge factor that comes into play when in comes to selling a home. The longer a home sits, the more money out of your pocket. Not to mention the stress and anxiety that comes along with that! Staging statistically decreases that time on market.
2. A survey by Coldwell Banker Real Estate Corp. found that staged homes sell for more than 6% above asking price
This stat almost seems too good to be true! But yes, on average staged homes sell for more than 6% above asking price. Why is this? Perhaps because staging can increase the perceived value of a home. I'm telling you- this stuff works!
3. Sellers who spent $500 on staging recovered 343% of the cost when they sold their home.(Homegain)
This one is pretty self explanatory. I always try to share this stat with my clients as I feel like it most definitely proves that the investment is completely worth your while.
4. 81% of buyers say home staging makes it easier to visualize the property as their future home. (National Association of Realtors)
Home staging is about selling a home in it's best possible light. Thats why we bring in modern furniture and decor to please the greatest amount of potential buyers as well as recommend different things that homeowners can do to make rooms appear larger, more updated etc. If buyers can visualize themselves in the space, then everyone is winning because we can assume they are going to be making a more emotional purchase and therefore potentially offer more for the property.
5. Buyers are willing to spend 1% to 5% more of the dollar value on a staged home than a non-staged home. (National Association of Realtors)
Again, perceived value greatly impacts the selling price of a home here and the proof is in the pudding (or the numbers!) you're statistically going to get more dollar value on your staged home.
So there it is folks- 5 awesome stats that prove staging is totally worth the investment! As stagers, although we cant make any guarantees, we can be pretty confident that we can help sell your house faster and for more money!
If you would like a custom quote on home staging in the KW or GTA, please do not hesitate to contact me!