Home Staging is one of the most important marketing strategies in any real estate market and it's not just about baking cookings and clearing the clutter! Although clutter and cleanliness are two very important aspects, home staging is about making an emotional connection with the buyer and psychologically understanding their desires.
In addition to being an experienced REMAX REALTOR®, Kerri Demski has also been a Certified Staging Professional™ since early 2007. She has an eye for what needs to happen in order to make the photography and videography look stunning. Get listed-to-SOLD, faster!
"Basic home staging is a free service we offer to all of our clients. At North Shore Realty we are dedicated to selling your home quickly to ensure you receive top dollar...and home staging is certainly an important part of that!" - Kerri
What is home staging?
Home Staging is the art of preparing your property for sale by setting the scene throughout the house to create immediate buyer interest in your property. North Shore Realty establishes an emotional connection with the purchaser by emphasizing the possibilities. It's not to say that a buyer will actually live a 'staged life' but it is about creating that potential in a relaxing, inviting atmosphere.
What are the benefits of home staging?
The two primary benefits of home staging are financial and emotional.
From a financial perspective, home staging increases the chance of your property selling in a timely manner. North Shore Realty presents your home to prospective buyers to highlight all the benefits - space, traffic flow, curb appeal and overall ambience.
Staged homes sell faster and in turn, for more money than those that aren't staged. In a buyers market the average 'days listed' is considerably less (~75% less). While in a seller's market the sale price is anywhere from 5% to 20% higher.
On the emotional side, clients tend to be more relaxed and focused compared to seller's with a non-staged home who can experience frustration and anxiety. We believe this stems from a lack of confidence if showing expectations aren't met after the first few weeks.
RESA study results are in!
The Real Estate Staging Association has released some interesting data collected from real estate markets across Canada and the US last year. SO, is it worth it to stage your Vancouver home? You tell us...
- 117 vacant homes were staged before they went on the market. Those homes sold in 42 days on average.
- 167 occupied homes that were staged before they went on the market. These homes sold in 39 days on average.
- 87 vacant homes (not staged) at an average of 277 days on the market, unsold. Those homeowners decided to take their properties off the market to stage them. Those same homes sold in 63 days on average. This is 78% less time than a non-staged home.
- 39 occupied homes (not staged) previously on the market at an average of 233 days, unsold. Those same homes, after staging, sold in 53 days on average. This also represents 78% less time than a non-staged home.
The above RESA study shows that 126 homeowners had their properties on the market for an average of 263 days before they decided to take them off for staging. 263 days = 9 months!
The RESA study also shows 284 homes that were staged before they went on the market and they sold in an avergae of 40.5 days. 233 days LESS = 7 months!
Clients are understandably concerned about the costs associated with staging but the real question is... can you afford not to stage? Don't forget that North Shore Realty provides basic home staging services for free but here's an example to put it all into perspective:
- Your mortgage per month = $1800.00
- Direct expenses per month = $300.00
- Total carrying costs per month: $2,100.00
RESA’s study shows homeowners had their property on the market for an average of 9 months. $2,100.00 x 9 months = $18,900 in expenses. Likely, you can also add at least one price reduction to that.
Had those homeowners staged first, their time on the market would have been cut substantially…by 7 months saving homeowners $14,700.
If you would like a complete marketing analysis conducted on your property, feel free to contact us.