The Property Staging Debate: Should You Do It & How Much?

The Property Staging Debate: Should You Do It & How Much?
Should you stage your property to help it sell faster, and for more money?
The big staging debate has been going on for a while. Some don’t see the rewards. Others wouldn’t dream of marketing a property unless they’ve staged it. So, do the numbers really work? How much staging should you do?

Staging By The Numbers
Virtually all builders have a model. Preconstruction condos will almost invariably be presented with materials showing staged and furnished units.
When it comes to residential homes:

• Staged homes sell 90% faster (Real Estate Staging Association)
• 95% of Buyers’ Agents say staging has an impact (Home Staging Resources)
• 12% of agents believe staging can boost home value by 11-20%

Look around today and you’ll find many sellers staging. You’ll want to keep up and have a good product that competes too.

3 Levels of Property Staging
There are a variety of levels of staging depending on your budget, how you are selling, and what the market demands. This can generally be broken down into three main categories.

1. Virtual staging
2. Preparing a clean slate
3. Comprehensive staging

For example; you may just wish to provide the technology tools for potential buyers to see what the space could look like. Or you could clean the place out so that buyers can best visualize their own look. Or you may hire a professional service to stage everything from the landscaping to the furniture, and flowers.

Investing in Staging
Staging costs can vary from a couple hundred dollars for virtual staging and renderings to bringing in furniture and appliances, to giving the property a complete makeover for six figures.
However, you do want to be sure you are going to generate a positive return on your investment. You may not find that using the most luxurious service, if the property doesn’t warrant it. Perhaps you just want to stage one model unit in a multifamily for the best return. Or some investors may buy the furniture and include it in the sales price, or resell it afterward. Often at a profit. Those on a tighter budget may just rent the furniture and staging materials until a contract is signed.


Summary
Staging can help. Check out what you need to compete and stand out. Do the numbers, and get an expert second opinion to back up your assumptions. 
For help and advice on the staging debate and finding the right level of staging for your property contact us. We’re experienced in selling homes, apartment buildings, new construction, redevelopments, and everything in between.
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