Is Home Staging Worth it in a Fast Market?
By Lisa Fant
It’s no secret that home staging can be a substantial part of the homebuying or selling process. Staging helps potential buyers to see a home as move-in ready, maximizing its appeal and establishing an emotional connection by inviting buyers to envision the home as their own. According to the National Association of Realtors® (NAR) Profile of Home Staging, 82 percent of buyers said staging a home made it easier for a buyer to visualize the property as a future home. The NAR report found staging the living room was most important to buyers at 46%, followed by the master bedroom at 43% and the kitchen at 35%. In fact, the Profile of Home Staging shows more than a quarter of buyers are more willing to overlook property faults if a home is staged.
Although these statistics may prove staging to be a worthy investment to attract buyers, some limitations could cause sellers to reconsider staging their homes to sell. While the extra appeal of staging can result in a higher home sale, it may not be in the budget for many sellers, and in a fast market, staging may be an unnecessary process for quick sales.
Whether you decide to stage your home or prefer a more cost-effective alternative, consider these options before deciding what’s best for you:
Consider virtual home staging
According to the National Association of Realtors®, nearly all buyers in 2021 used online tools in the search process at 95%. Virtual staging could be a convenient and cost-effective option for sellers. Virtual staging software can easily remove and replace furniture or even renovate entire spaces without physical labor.
Sellers may decide to hire a professional for virtual staging, but if you’re tech-savvy enough, a DIY software tool like Apply Design could be a suitable option.
Hire a Professional
If you’re not interested in taking the DIY approach, hiring a professional home stager could be useful. A professional stager will help declutter, remove furniture, and add modern furniture or fixtures to the room. Note that many professional home stagers require contracts with certain clauses, such as a minimum staging time, insurance and liability requirements, and additional fees. In fast market, however, the amount of time it takes to stage with a professional may not be fitting. Be sure to familiarize yourself with your home stager’s contract and process before service.
Stage Your Own Home
If all your home requires is a bit of modern flair, a DIY staging project can potentially save you time and money. Deep cleaning, decluttering, and rearranging furniture are quick and effective ways to revamp your home for potential buyers. NAR also recommends depersonalizing the room by removing personal keepsakes or family photos, clearing counters, and putting toys away so potential buyers can envision themselves in the home. Indoor potted plants can help the home feel more inviting, while a freshly cut lawn and a clear, furnished porch can add curb appeal. Consider opening curtains and blinds during showings for natural light, and perhaps additional lighting fixtures to rooms for improved lighting for showings and photos.
To Stage or Not to Stage
In a fast market, staging may not be worthwhile. Low home inventory can accelerate sales, leaving little reason to spend time and money on staging. While it may not seem appealing to list your empty home, an empty house means buyers can move in right away. If the house is clean and in good condition, the buyer may focus on the structure and design features rather than getting distracted by decor. To determine if the market exhibits stage-worthy conditions, check NJ Realtors® Local Market Updates by county, or contact a local Realtor® who can provide the monthly municipality housing market reports to buyers and sellers.
