If you’re thinking of selling your investment property now or next year, there are several steps involved in preparing it for market. Today, we’re going to talk about staging. This crucial step impacts your investment property’s sale more than most realize.
What is Staging?
From first impressions to furniture arrangement, home staging provides potential buyers with an inviting visual representation of your investment property. Staging is a deliberate design technique, and it incorporates design and decorating rules of thumb to make your property appealing to a wide audience. Often, it simplifies the look and feel of the home to make it “pop.”
Staging is essential to sell your investment property quickly and for the most money possible, especially if your property is vacant. Let’s take a look at the numbers:
– Staged homes sell 88% faster and for 20% more (REALTOR.com).
– 97% of buyer agents said staging affects the buyer’s view of the home (National Association of REALTORS®).
– Homes staged before going on the market sell for 90% more (Real Estate Staging Association®).
– 58% of listing agents said staging increases the dollar value of a home (National Association of REALTORS®).
– Nearly 1/3 (28%) of buyers are more willing to overlook “property faults” when the house is staged.
– Only 10% of the population can imagine a home’s potential.
Pretty amazing, isn’t it? In today’s market, making a great first impression is crucial. The majority of buyers begin their home search online, and an investment property’s staging (or lack thereof) will either increase the buyer’s interest or eliminate the home from their list. The photos are virtual windows to your investment property. Strategically, staging helps shorten the time on market and may also increase the likelihood of higher offers.
In my next blog, we’ll take a look at how to find a professional stager, and I’ll also share how to stage your investment property yourself on a budget.
If you have questions, please know that I’m always here for you.