The science and art of selling a house: staging vs. price reduction

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Did you know homebuyers are searching online in huge numbers these days?

IMG_6239Over 90% percent of home buyers search online an average of at least 10 times before deciding which house to visit in person.  Online searching optimizes their ability to compare homes on the market by making it quick and easy. According to the National Association of Realtors, 94% of Millennials, 84% of Baby Boomers and 65% of the Silent Generation (pre baby boomers) search real estate online before going out to visit houses for sale.  They identify exterior and interior photos and detailed information about houses as the most important benefits of going online first.

Most buyers have a list of features they want in a home. But when they really love a particular house because it just feels right to them, they often set that logical list aside and buy the property they have fallen for. This is because buying a house is so often an emotional decision. They are looking for a house to make their home.

In fact, imagination and visualizing how a home may work for the buyer plays a huge role in the home buying process. However, according to a National Association of Realtors report, over 80% of buyers are unable to visualize their own furniture and other household items in an empty space. Empty spaces are cold and uninviting. Rooms seem too small. Spaces may look awkward. Buyers spend less time on empty houses whether they’re viewing them online or visiting them in person.

So, how do you attract the online buyer and in-person visitor to get a step closer to selling your house? The answer is: using professional staging, pricing it correctly based on market demographics, and having a detailed marketing plan that includes professional photographs of your staged house.

Staging shows a buyer how furniture can be arranged, gives a space a clear purpose and makes use of awkward spaces. It is the finishing touches that inspire buyers to imagine themselves living and relaxing in their new home.

Staging is one of the best marketing tools to get your house on the “visit list” of online searchers. In a study of over 1,000 houses conducted by the Real Estate Staging Association, empty houses spent an average of 184 days on market before they were staged. After staging, however, these houses sold, on average, in 41 days.

How does staging stack up against a price reduction? Well, the first answer is that price reductions alone don’t ignite a buyer’s imagination of how they would live in and use the space. A price reduction may garner a second look online or in person, but it doesn’t help present your house in the emotionally powerful way that staging can.

Price reductions alone don’t showcase houses to WOW the online and in-person buyer. Price reductions alone don’t erase space concerns. Price reductions alone don’t ignite imagination, emotion and excitement in prospective buyers.

The initial investment in staging is usually if not always much lower than a suggested price reduction.

The certified and accredited team at Turning Point Spaces is here to help make your house stand out and attract potential buyers online and, especially, when they visit your house. Our skills and knowledge, our continuing investment in staging education, and our keen sense of space and design equip us well to showcase your house. We have a warehouse of new furnishings to draw on so we can create the right feeling for your space to appeal to the potential buyer.

Our team knows where and how to place accessories to WOW the online buyer.  By investing in professional staging, your house will stand out from other similarly priced but un-staged houses.

Let Turning Point Spaces work with you and your realtor to help get your largest investment sold!

Call us at:  309-202-8766 or 309-202-7588.