Staged price or list price is a factor to consider when listing your home for sale. When you sell your
home, you most likely will want the very most net equity from the sale, and quick and painless process. This is where the list price vs the staged list price will help you come up with an educated and informed decision.
The list price is based on the comparative market analysis (CMA) performed by your Realtor based on the recent sold houses in the neighborhood. Their next step is to look at which way the market is going, up or down. This is how they come up with starting base to list the house.
According to StagedHomes.com the average sales price of a staged property is 6/9% higher than a non-staged property, and
sell more than 50% faster than a non-staged home. Staging can reduce the selling time by up to 50%. The statistics prove that staging can give both more realized net equity and a faster selling time.
Home sales statistics prove the value of staging prior to open houses, model home promotions, or advertising photo sessions. Investing in staging a property is often less costly than the alternative of a reduction in a sales price, and can yield better, faster results.
Staged homes are the comparable to non-staged homes. They not only leave a lasting and emotional connection, but they add a sense of urgency to making the best offer and as fast as possible before another buyer makes an offer. Needless to say, multiple offers and a quick and profitable sell are a sellers dream!
I have one Realtor who always gives the homeowner the non-staged price. Then, she brings in our team to make reccomendations on repairs and updates. After the updates we stage the home and then she sets the price. On a recent listing for one of her clients they added a few updates i.e. painting the interior walls, painting the cabinets and changing the hardware, replacing carpet and lighting . Then we staged the home to appeal to the targeted buyer. After the staging, the final list price was $70,00 over her first initial price. The house sold in one day 10,00 over the final list price!!
Investors are a big part of our business. They add staging as part of their budget in gaining the best return on their investment.
As one of my investors stated, the one home he choose not to stage because he was over budget sold lower than his list price and he ended up loosing money because buyers kept noticing the challenges of the house instead of the beautiful updates.
The next home we staged for him sold in two days $30,00 over the list price. This investor is sold on the power of staging as an investment in helping to add value to his homes.
Staging is an investment in securing your list price, and is a tax write off for marketing your home.
If you are selling your home, hiring a qualified Home Stager before listing should be on the top of your list!