Is Staging a Home Worth It?

Is It Worth It to Stage a Home in Winnipeg?

We were recently asked by a prospective client what the estimated return on investment (ROI) is for home staging. In simple terms, what they were asking was is staging a home worth it?

Based on real estate industry statistics, there is typically a positive return on investment for home staging. BankRate.com reports that the average ROI on the cost of home staging is 586%*.

In another survey down by an authoritative industry source, it was demonstrated that for every $100 invested in staging the potential return is $400. The latest Home Gain survey, including more than 2000 realtors showed that investing in staging can generate up to 556% returns.

So, based on those statistics, what do you think? Is staging a home worth it?

Absolutely it is, and our own performance track record is very consistent with the statistics cited above.

We can tell you quite confidently, that we’ve never had a client lose money by investing in our home staging services. Even reluctant clients who are being urged by their realtors to invest in home staging end up being happy converts when all is said and done – we see it happen frequently. The agent insists that they need to call us in to stage their home. At first they resist, but the agent persists, and ultimately the client engages us – yet at this point they are sometimes still not convinced it is necessary, but they have a well respected agent so they wisely they follow what their agent is telling them to do. Inevitably the home sells quickly, most often in just a day or two, or on offers day if there is one. There are multiple offers, and the house sells above ask, and for a higher price than the home owner was expecting. When all is said and done, they credit their staging for the successful sale. recognizing how much better the home shows with the staging.

*According to statistics compiled by BankRate.com

Consider this:  if you had a financial planner who could get you a return on an investment (ROI) of say, 5%, 10%, or if the stars were all in perfect alignment as much as 20%, wouldn’t you be extremely pleased? That’s what we do for our clients when we stage their homes.

Real estate industry statistics indicate that staging a home increases the selling price by a minimum of 5-10%. So on an average $350,000 home, that’s an extra profit of between $17,500 and $35,000 for the seller.

Well executed home staging is a form of visual merchandising for real estate that draws on the fundamentals of interior design. With our formal design training and a two decade marketing background to draw upon, we are very effective at implementing strategies that lead buyers to visualize themselves happily living in the home.  We play up all of the homes best features, downplay its flaws (yet without ever “hiding” anything, as that is simply not ethical or honest).  We turn weird, challenging spaces into usable, desirable spaces.  We stage spaces to create “good vibes” in the home that buyers respond to as they walk through the house (we refer to this as “emotional” staging). And finally, we ensure that the home looks not just good, but AMAZING in listing photos.  That’s important because according to a National Association of Realtors (NAR) report, 93% of home buyers go online as part of their house hunting. That means that your home had better show really well online. Our home Staging and pre-lisiting photo styling makes that happen.

Today it is fairly commonplace for homes for sale in Winnipeg to be professionally staged, just as it is in other cities all across North America as well as the UK. 20 years ago home staging was almost unheard of, and certainly not something the average home owner did when selling. Today home staging is an important part of any serious real estate marketing strategy. More and more realtors now advise their clients to have their homes professionally staged because experienced realtors understand better than anyone the power of well executed home staging to get a home sold quickly at the maximum possible selling price.  That means it is highly likely that your property will be competing with homes that have been professionally staged.  Therefore, when buyers compare your home to those competing properties, you are at a major disadvantage if you haven’t staged your home.

So, is home staging worth it?

Only if you’re interested in getting the most money possible for your home, and expediting the sale.  Feel free to give us a call at 204-390-8979 for a free initial home staging consultation to find out what we can do to help you prepare for a highly successful sale.