As 68% of buyers are disappointed when homes aren’t staged like on TV, property expert reveal how staged homes sell in less time, and for more than asking price
- More than two thirds (68%) of buyers are disappointed when homes are not staged like on TV shows like Selling Sunset and Million Dollar Listing
- 82% of seller’s agents and realtors say that staging a property for the market makes it easier for buyers to see the potential as a new home
- Potential buyers will linger in staged homes for 40 mins on average, compared for just six minutes in vacant properties
In today’s seller’s market, research shows that staging a home can not only increase the chances of selling a property, but also selling it in less time, and for more money.
A whopping 97% of buyer’s agents say that staging affects the buyer’s view of the home as it allows buyers to see a property’s full potential, while more than a third (39%) say staging positively impacts the home’s value if it is decorated to the buyer’s tastes as this helps to be able to envisage living in the home themselves.
Ryan Fitzgerald, realtor and owner of Raleigh Realty reveals the benefits of home staging, and shares some quick and cheap ways to make a property more appealing to potential buyers.
What Buyers Want
Since the pandemic, 83% of agents say that having photos, videos (74%) and virtual tours (73%) of staged homes was more important to buyers than ever, as this makes it easier for buyers to see the property as a potential home.
Research also shows that potential buyers linger in staged homes for an average of 40 minutes compared to a mere 6 minutes in vacant properties, and that more than a quarter (27%) of buyers were willing to overlook property faults when viewing a staged home.
When it comes to the rooms buyers are most likely to want to be able to see themselves living in, the most important area to stage for viewings is the living area. Almost half (46%) of buyers said that staging the main living room was the most important room to them, followed by the primary bedroom (43%) and the kitchen (35%).
Selling False Expectations
The research also revealed that 68% of buyers were disappointed by how homes looked in reality compared to those they had seen listed on TV.
Popular reality shows like Selling Sunset and Million Dollar Listing have really shone a light on how important the styling of a home is to home buyers, with 63% saying they think listed properties should be staged like on TV.
According to research by Raleigh Realty, the most common home improvement suggestions agents make to sellers before losing their properties include decluttering the home (93%), deep cleaning (85%) and improving general kerb appeal of the property (78%).
While not every seller can afford to stage their homes like those on TV, Ryan says there are some quick and easy ways to stage your home on a budget.
Ryan’s Budget Staging Tips
Declutter and depersonalize
“The most important thing to consider when making a home ready for the market is to make it look less like your home, and more like someone else’s.
“Remove all family photos from the walls and children’s artwork from the fridge, and really strip back the personality you have given the home in the time you’ve lived in it. Utilize existing shelving by adding art pieces and old books to them to make them seem less cluttered and more aesthetically pleasing.
“A potential buyer won’t be able to look past the years of familial happiness to see themselves being able to live in it, if it is too cluttered with personal possessions. Tuck them into drawers or move them to kid’s bedrooms or garages while viewings are taking place, and bring them back out once the deal has been done.”
Deep Clean and repair
“Similarly, if your sofa or carpets are covered in pet hair or your walls have been artistically adorned with playtime pens and height records, a buyer is going to struggle to see the potential of the space without you and your family already in it.
“Broken light bulbs and faulty handiwork won’t shine your property in the best light, so make sure any small repairs are completed ahead of time, to allow potential buyers the opportunity to turn on lights and run taps and look in cupboards to test these things themselves.
“Consider using shiny touches and high-gloss paint, as this can help make things look expensive on a budget, and try adding different types of lights too. Wall lights and table lamps with dimmer switches can help to make rooms fancy, without costing very much.”
Neutralize the property
“While you may love the emerald green kitchen cupboards or yellow feature wall in the bedroom, a potential buyer may not as the thought of having to redecorate their new property could put them off in the early stages.
“A lick of paint will instantly take walls back to a nice neutral shade that will help buyers see how bright and airy the spaces are, and put your home in the best position to be sold. Adding lightweight, full-length curtains that touch the floor can also make a room feel luxurious without spending much.”
Help them see the future
“The best way to help a potential buyer be able to visualize themselves living in your home, is to hang mirrors in prime locations so they can literally “see” themselves in the space.
“Psychologically, this will let them have a quick trip into the future where they are hosting guests in their new home, or cooking in the kitchen, or having movie nights in front of the TV much easier than relying on their imagination alone.”
Make it aspirational
“Another psychological trick is to appeal to their other senses, like smell and taste, when viewing your property.
“By popping some vanilla extract in the oven before viewings or opening a bag of freshly ground coffee beans in the kitchen, your home will instantly smell more like their favorite cafe than your much-loved home, and the power of scent-evoked nostalgia will kick in and let them imagine eating croissants in the kitchen over their morning coffee.
“The same goes for household basics too. By putting homebrand soap or hand wash into fancy label-less bottles, your bathroom and kitchen will be instantly transformed into something much more high-end and aspirational for potential buyers to want to sign up to.”
For more home staging statistics, please visit here.