Home Staging: Your Competitive Edge in a Cooling Market
For much of 2021 and 2022, we’ve experienced a hot market. Also referred to as a seller’s market, buyers were competing to put offers in on homes. However, that pattern is beginning to change. Prices are starting to drop as sellers find it more difficult to get offers. The growing competition can be challenging, but home staging is a great tool to help you get your house off the market quicker.
The Cooling Market
For the last couple of months, the market has been getting noticeably cooler. The reason for this ultimately comes back to rising interest rates. In some cases, buyers are having to pull out of sales and are choosing to wait. As a result, we’re seeing fewer buyers and more listings. The Orlando Regional Realtor Association’s survey revealed that 74% of agents think the market is cooling down.
Staging Statistics
With the added pressure to impress buyers, now is a great time to take home staging into consideration. It’s proven that buyers tend to have certain expectations about how homes should look. The 2022 Home Staging Industry Statistics showed us that staged average-priced houses will sell 5 – 11 times faster in today’s market. Staged luxury homes will sell 2 – 8 times faster than those that aren’t staged. Plus, staged homes have the potential to increase up to 20% in sales price. It’s clear that staging is your best bet for making sure your home doesn’t sit on the market for too long.
Understanding Home Staging
Now you know why staging is helpful, but you might be wondering just what it includes. People tend to associate home staging with making the home more attractive with stylish decor. Creating a visually appealing home is definitely a large part of it, but there can be more to it. Here’s a breakdown of some of the main elements of home staging.
Furniture and Styling
By creating a natural traffic flow, adding updated pieces, and accessorizing well, a home can feel brand new. That’s why home staging will often include rearranging or swapping out furniture. For styling, things are generally kept fairly neutral and clean. The final touches can come through artwork and carefully chosen accent pieces. Key areas to focus on for staging include the living room, dining areas, primary bedroom, kitchen, and bathrooms.
Home Improvements
In addition to styling with furniture and decor, staging can also include minor home improvements. This might be things like a fresh coat of paint, checking up on caulk and baseboards, or replacing a carpet. You won’t want to overlook any necessary repairs. Exterior home improvements can also be beneficial. This will contribute to your home’s curb appeal, which is essential for attracting buyers.
Ambiance
Having an inviting home is an absolute necessity. You want your buyers to feel comfortable and welcome the moment they step foot in the door. This goes beyond having a pretty space. As a part of staging, think about the full experience of your potential buyers. You can create a calming ambiance with things like aromatherapy or soothing music. This can greatly affect how they feel about your home, so you’ll want to make a positive impression.
Photography
Showing off your styled home through photography is not only exciting, it’s a crucial step in staging. High-quality photos are needed for online listings, and they can determine whether buyers choose to come by. Everything from angles, lighting, and camera quality matter more than you might think. Take the time to make sure everything is looking fresh and ready for buyers.
Schedule a Home Staging Consultation
If you’re trying to sell your house as the market cools, home staging will be your best option. It might seem intimidating, but you don’t have to do it alone. Consider hiring a professional staging company like MHM Professional Staging. Attracting potential buyers to your home is our specialty. Request a home staging consultation today!