Real Estate Secrets: 3 Reasons To Stage in a Seller’s Market
It’s absolutely true that selling a house is easier in a seller’s market. So why would you pay for staging if you don’t need it? Here’s 3 compelling reasons you need to rethink that logic before putting your house on the market.
1. Higher Priced Offers It’s not just about selling your house, it’s about getting the most money possible for your property. You want buyers thinking that they’ll lose out on your house, if they don’t come in aggressively with a strong offer. And homes that are staged frequently receive offers near asking price or even above asking price. It's because a professionally staged property, whether occupied or vacant, has that magazine-worthy feel. When a listing is well staged, buyers are more likely to perceive the property as their dream home – the “one” they’ve been searching for and can’t let go. It’s a compelling feeling that makes buyers willing to pony up the extra money in order to secure the house of their dreams. A talented stager from Jodi Maturo Design can often give an occupied home an affordable décor transformation with just art and accessories. If your home then sells for $10,000 - $15,000 more, the staging has paid for itself tenfold.
2. Multiple Bids
Everyone wants a bidding war, but how do you set the stage for it to happen? To understand why (and how) a bidding war occurs, we must first go back a few steps in the process. In a seller’s market, realtors know they must get their buyers in to see a property as soon as it hits the market. They understand that buyers have to move quickly in a seller’s market because the best properties move quickly. The good news for sellers is that you’ll typically have lots of showings right away, with multiple buyers coming through your house within the first few days.
Without a doubt, you’ll want to make a strong impression on buyers before they head out to the next property. A professionally staged property helps set the standard, as buyers tour other properties. You want buyers to keep thinking about your property long after they’ve left, coming back in their minds and comparing all the other properties to your house. I like to call this the staging effect, and if done right, it can occur over and over again with numerous buyers within your first weekend on the market. The result is often a bidding war, with multiple buyers all presenting you with a better price and terms than they would otherwise. 3. Negotiating Power
Following the logic above, your staged home now has offers near or over asking price with multiple buyers at the table. That means you have the negotiating power…and your realtor has the upper hand in the negotiation process. Having this leverage, may even allow your realtor to go back to all buyers, asking for a best and final offer. Or your agent can negotiate specific aspects of your deal to get you more attractive terms. Maybe your best offer is above asking price, but has a closing date that’s farther out than a lower priced offer. In a multiple bid scenario, your realtor can more easily negotiate your terms with the buyer’s agent and quite possibly get you the best of both worlds.
If you’re looking to stage a home in the Denver metro area, Jodi Maturo Design LLC can help! Call or text us at 303-378-1220 to set up a staging consultation appointment.