Staging to Get More Money and Detach from the “Home”

3“Why should I spend money on getting my house ready to sell when It’s been perfectly fine all these years for us to live in?  If I do all you want me to and then pay your commission, I’m out a lot of money on my bottom line!”

This was a conversation I had this week, as I negotiated with my seller on the benefits of staging, painting and refinishing his floors.  His house was an expired listing and I was the second agent hired for the job of getting their house sold at top dollar. They wanted to move to the country.  Although he didn’t buy into the idea of staging to sell, luckily his wife prevailed. Whenever I get push back, it usually comes from the spouse who’s more emotionally invested in the house and therefore having a hard time letting it go. My goal is to help them see their house through the eyes of a buyer.

As part of qualifying my sellers’ motivation I ask each seller how they will feel about handing the keys over to a new buyer.  Sometimes there are tears and sometimes a shoulder shrug. Either way, selling your house can be an emotionally charged thing. Staging is one way to depersonalize and therefore begin to detach from the emotions associated with selling the home where they created so many memories.

According to a 2015 NAR (National Association of Realtors) survey, “seller’s agents say a staged home increases the dollar value buyers are willing to offer. Thirty-seven percent say staging raises offers by 1 percent to 5 percent, 22 percent of seller’s agents say it raises offers by 6 percent to 10 percent, and 8 percent say staging increases an offer’s dollar value by 11 percent to 15 percent. This provides a high ROI when the median dollar value to stage a home is $675.”

So, if you’d get 11-15% higher offer, why wouldn’t you stage?

In his article found in MARKETWATCH, Published: June 19, 2016 7:24 a.m. ET,Does ‘staging’ a home lure buyers into paying more?by Daniel Goldstein, RESA, the Real Estate Staging Association, looked at nearly 170 staged properties valued at $300,000 to $499,000…. And found that those homes were sold in 22 days, compared with an average on-market time of 125 days for un-staged properties. They, obviously, had a vested interest in the subject, however, I still think it’s noteworthy.

Staging is all about creating a new model home feel for the buyer and more importantly a way for the homeowner to detach emotionally from owning it. If they can net more money in the long run, the ROI is well worth the small hassle associated with staging.

Written by Sarah Chatel

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