REALTORS®: Home Staging Cuts Time on Market
Home staging offers a distinct advantage for sellers: a speedy sale.
Sixty-two percent of sellers’ agents believe staging a home cuts down the time it spends on-market, with the majority believing it “greatly” reduces the window, according to the new 2017 Profile of Home Staging from the National Association of REALTORS® (NAR). Seventy-seven percent of buyers’ agents believe staging a home helps buyers envision themselves living in it, and 40 percent believe it prompts buyers who first saw the home online to visit it in person.
Staging can also have a positive effect on home value. Thirty-one percent of buyers’ agents and 29 percent of sellers’ agents believe it adds anywhere from 1 to 5 percent, while 13 percent of buyers’ agents believe 6 to 10 percent and 21 percent of sellers’ agents believe 8 to 10 percent. The cost of staging is often fronted by the seller or sellers’ agent.
Buyers’ agents caution, however, that staging is only beneficial if the home is staged to appeal to general, not specific, preferences. Most buyers’ and sellers’ agents believe the living room is a key space to stage, as well as the kitchen, the master bedroom and the yard. They also believe decluttering, depersonalizing and a deep clean—beyond staging—are essential for a show-ready home.
Thirty-eight percent of sellers’ agents stage all of their listings before placing them on the market, while 14 percent only stage listings that require it. A near-even 37 percent do not stage their listings at all.
“REALTORS® know how important it is for buyers to be able to picture themselves living in a home and, according to NAR’s most recent report, staging a home makes that process much easier for potential buyers,” says NAR President Bill Brown. “While all real estate is local, and many factors play into what a home is worth and how much buyers are willing to pay for it, staging can be the extra step sellers take to help sell their home more quickly and for a higher dollar value.”
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