Updated: Apr 5
If you've been a Friar Tuck Home follower for a while, then you know we purchased our home 3 1/2 years ago. We had been renting the house diagonally across the cul-de-sac from it. When the home came on the market, we jumped on it.
Our landlord then rented out the house to another family, hoping they'd be awesome tenants like we were. Well, they weren't. This family failed to pay their rent for several months and were then evicted. Not surprisingly, they trashed the house on their way out the door. After that experience, let's just say my landlord was officially done being a landlord. He did some work on the house and put it on the market almost 3 years ago.
The couple who ended up buying the home did not offer the highest price. They actually wrote a really nice letter about how they're looking to start and raise a family in a home like this one. This clearly tug at the heartstrings of my landlord as he previously lived in the home and has 2 children of his own. I'm happy to report that my neighbors are now raising a fur baby (their dog) and a human baby.
Let's jump to today. The letter they wrote would not have made any waves. As I write this post, the real estate market is incredibly hot here in New England. Houses are going like hotcakes - usually well above asking price. Open houses regularly have long lines of people waiting to get a peek inside. There are all out bidding wars. Some buyers are purchasing homes sight unseen and taking major risks like not requiring home inspections. This is some scary stuff indeed.
I recently had an introductory call with a new home staging client. During our conversation, she asked me if I truly thought home staging was worth it given the current real estate market. My answer to her was 100% yes.
Now, I'm sure you might be saying to yourself, "Of course you're going to say yes, Angela. You're a home stager. If you would have said no, you'd be losing a potential client."
While that may be true, I'm also honest and upfront. I do 100% believe that staging matters - in a hot market or not. Here's why.
Yes, you read that right. According to the National Association of Realtors, 83% of buyers find it easier to "visualize the property as a future home" when it is staged. This figure from REALTORS - aka the folks with their fingers on the pulse of the real estate market.
Staging a home ensures that buyers see it in its VERY BEST LIGHT. Certified home stagers like myself do their homework. They look into the demographics of potential home buyers in your neighborhood. They also look at similar houses also on the market. They will then use this information to partner with you and your real estate agent in staging your home to its fullest potential and attract all those potential buyers.
If you're still not convinced, here are some stats from a 2020 survey of 13,000 staged homes (courtesy of RESA):
With an average investment of 1%, approximately 75% of sellers saw an ROI between 5 and 15%.
Staged homes typically sold faster, averaging just 23 days on the market.
85% of staged homes sold for 5-23% above asking price.
The bottom line is that the goal is the same for all listings (in any market - hot or otherwise): to help the seller achieve the highest selling price possible in the shortest amount of time. This goal is of the utmost importance to all parties involved - the seller, the real estate agent, and the home stager. That's why staging is so important.
Curious about the staging process? Schedule a FREE 20-minute strategy call to have all your questions answered!