Author: Christa Rainey
Risk is to reward what staging is to real estate. The same analogy could be awkwardly applied when it comes to what clothes are to a naked body! Without the right pieces and accessories, the less than perfect aspects become the focus… of the home, that is! (Okay, moving on...)
So according to the NAR, for every $100 invested in staging, the potential return is $400. And while on the topic of spending, it should be noted that there’s a 50/50 chance that the real estate agent’s seller client will spend no more than $1,000 on staging. https://www.homelight.com/blog/home-staging-statistics/
The saying “you have to spend money to make money” unfortunately only goes so far—especially when the agent is already expected to cover a list of expenses to get a home ready to be listed. Whether DIY or hiring a professional, staging costs start at the $1000 mark—this doesn’t include the potential consultation fee, furniture rental fees, and storage fees. Oh, and not to mention, okay I’ll mention, all the TIME spent to make it happen!
The fact is: The budget is often the biggest factor when it comes to staging.
It’s a pretty well-known statistic that staged homes sell FASTER; 87% faster, in case you haven’t heard. https://www.forbes.com/sites/vanessamcgrady/2015/11/04/staging/#151d9cd50c91
And furthermore (literally) they also sell for MORE. In a 2019 survey of 900 Top Real Estate Agents, a staged listing will sell for 1-10% more on average than a non-staged listing. https://www.homelight.com/blog/home-staging-statistics/
Now that the numbers have made a convincing case, let me make one for a more affordable and efficient way to stage a home. Feel free to imagine Olivia Newton-John singing “Let’s get virtual, virtual, I want to get virtual!” Not how that goes? *wink wink*
Yes, I’m talking about virtual staging! After 3 years of running a virtual staging business, Arrange, I have a few testimonials to back up the fact that it works!
After using my virtual staging service, one of my clients, who was hesitant to try it out, let me know that within 2 hours of posting the virtually staged photos, the agent had 6 showing requests, an offer, and it went under contract in 2 days!
There was another home that had been sitting stale on the market, had been resisted with several different agents and when my client decided to let Arrange virtually remove the furniture and then virtually stage it — something amazing happened: Within a couple of weeks, the house was off the market but also ended up being the home sold at the highest price point in the neighborhood!
So to sum it up, staged homes sell FASTER (87%) for MORE (1-10%) and have a BETTER chance of selling to the 65% of the population that are considered to be visual learners.
Now that you’re excited to share these numbers with your real estate connections, let’s get you set up to offer virtual staging to your clients, shall we? I’ll be waiting to hear from you! Thanks!
All PFRE readers will receive 50% their first virtual staged room, reach out to Christa for details.