December 11th, 2024 | Selling
Is Staging Your Home Absolutely Necessary?
Professional home staging, which involves the strategic incorporation of furnishing and decor elements to elevate the appearance of a property, ranks as one of the best pre-sale preparations in terms of return on investment.
As a value-elevation tactic, staging has been adopted by a wide range of real estate professionals and dedicated third-party services. However, its utilization is not universal.
As a result of this, some home sellers may find themselves curious about the necessity of staging and whether or not they may bypass the process to have their property listed sooner.
In this introductory guide, we will offer an analytical dissection of professional home staging, its merits, and how sellers can earn deep benefits from it.
The Contemporary Adoption of Home Staging
Through the lens of industry formalities and regulations, staging is by no means mandatory. Sellers have complete autonomy to decide whether or not they wish to incorporate staging into their listing process.
That being said, a high percentage of industry professionals – especially those who are productive leaders in their targeted markets, agree that staging is an exceptionally important aspect of a complete selling strategy. Further, some agents may personally insist that any client who works with them agrees to professional home staging. This is because any listings they represent will reflect their brand.
As established, top-performing real estate agents in Toronto, Canada, we advocate fervidly for staging. Throughout multiple market shifts and ever-evolving conditions, well-executed home staging has continuously proven to amplify interest among buyers and in turn, elevate returns for sellers. Therefore, we will often strongly recommend it to our clients.
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Proven Value
As staging has risen to greater prominence in North American markets, its impact has been far more than merely anecdotal. Documentation efforts encompassing both formal industry studies and independent data analysis initiatives have proven the successes to be monumental. While exact performance indicators vary based on specific study-related factors, two specific trends have consistently held.
The first of these observations is that staged properties routinely sell for higher returns than those that have been listed as-is. This is because a depersonalized, well-staged home encourages buyers to foster an emotional connection to the property. In turn, these connections motivate buyers to place strong, high-quality offers.
The second finding is that homes that have been effectively staged spend fewer days on market than those that have not. Time is a critical factor in real estate transactions. Beyond merely the convenience of a rapid sale, homes that remain on the market for extended periods often experience price reductions – ultimately diminishing a seller’s bottom line.
Buyers, especially those with refined tastes, will feel drawn to homes that appear well-kept and turnkey. To that end, staging addresses potential objections by presenting a property in its best light, minimizing perceived flaws, and creating an impression of value. This leads to quicker offers and reduces the likelihood of prolonged negotiations or additional marketing expenses.
Marketing Elevation
Although these connections typically bloom during the initial in-person showing, the seeds of interest are often planted in advance.
In our contemporary real estate landscape, the leading majority of home buyers begin their property search in the digital realm, scouring various listings and syndicates on the internet. To that end, home staging not only refines a home’s appearance for the naked eye but also as part of its digital presence.
Professional home staging is indispensable for creating compelling visual content. When done seamlessly, a staged property will look remarkable in photographs, videography, and other mediums of imagery. This is particularly important when buyers are exposed to a myriad of listings at once.
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Circumstantial Strategies
Given the nuanced and often circumstantial nature of its processes, staging holds a somewhat broad definition. This is because home staging, in its most effective state, is executed to the parameters of an entirely bespoke blueprint.
Again, one of the primary outcomes of staging is emotional connectivity. Buyers should feel immersed in and inspired by the home. Therefore, a thoughtfully crafted staging strategy should be tailored to the natural strengths of the property, the target buyer pool, and other factors unique to the listing.
Bearing this critical caveat in mind, certain staging techniques are commonplace or relatively standard spending on the market. Many homes, for example, may benefit immensely from the replacement of select furnishings, interior or exterior repainting, decorative additions, removal of overtly personal belongings, art pieces, or photographs, and other responsive adjustments.
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Preparing The Home For Effective Staging
Staging is an exceptionally valuable facet of the selling process – precisely improving a home’s presentation to impress and entice potential buyers. However, most properties are not in adequate condition for staging in their pre-listing state. Sellers, with the guiding eye of their real estate agent, must undertake various preparations to ensure the home is sufficiently optimized for the staging process.
Cleaning & Decluttering
A tidy and uncluttered home is the idyllic foundation for staging as it permits greater flexibility in how an agent or their stager may make changes. Therefore, sellers should follow a comprehensive decluttering process to enhance the value that staging will provide.
Once again, maintaining an open-ended ambience is paramount to allowing prospective buyers to envision the home as their own. Beyond tidiness, a thorough decluttering process naturally depersonalizes the space, which will further encourage buyers to foster an emotional connection to the property.
In turn, this dynamic may lead to competing interest from multiple buyers and ultimately, strong offers.
Upgrades & Adjustments
In addition to cleaning and removing clutter, sellers should also address any repairs or recommended fixes ahead of the staging process. This applies to immediately noticeable issues and minor blemishes. Examples of this may include burnt-out lightbulbs, stained flooring or walls, leaking faucets, or damaged furniture. Should the property require substantial repairs or renovations, sellers should consult with their real estate agent before proceeding.
Removing Items
Within the staging process, a real estate agent may determine that a homeowner’s furnishings or belongings will hinder how the property appears to potential buyers and recommend their removal. However, that does not necessarily mean that the seller must permanently part with these items.
Should this occur, the agent will ask the seller if they have a secure place outside of their property to store various furnishings. This ensures the item remains safe and within the seller’s possession, without obstructing ambience, flow, or buyer appeal. If this is not possible, an agent may alternatively assist with moving furnishings and other belongings to a trustworthy off-site location such as a third-party storage facility.
Preserving Results
Once a home is staged, it is imperative to preserve and maintain its carefully crafted ambience. This means managing or eliminating any incoming clutter and cleaning messes as they happen. Sellers should understand that showings may occur with little notice and they will not always have the opportunity to re-clean or inspect the property before a prospective buyer arrives.
Sellers should perform a nightly walkthrough of the home, immediately addressing any untidiness or clutter. Further, they should inspect high-visibility areas each morning before leaving for work.
A home should remain in showing condition, or as close as possible, throughout the complete showing process. Dishes should be put away, all beds should be made, and all furnishings must appear well-kept and in their destination place. This process may sound labour intensive, however, with the right routine management, it can contribute to a high-result home sale with minimal add-on stress.
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Selling With Armin Group
Homeowners who are looking to amplify the results of their sale will want to work with an established real estate team who will go above and beyond to amplify their home’s value, like us – Armin Group.
As a team, our distinguished recognition and proven expertise have set a new benchmark for excellence in Toronto’s far-reaching market. Boasting more than 65 years of combined industry experience and uncontested expertise in the city’s most exceptional neighbourhoods, our proven approach to selling speaks for itself.
Leveraging our expertise in buyer wants, design trends, and home staging, our approach to pre-market preparations is truly comprehensive – ensuring your home is optimized to earn the best returns possible.
Further improving your selling journey, our end-to-end white glove service positions your property for exceptional market performance while simultaneously minimizing stress or disruptions.
Seeking a seamless and personalized property sale? As distinguished leaders in luxury Toronto real estate, Armin Group can help. Reach us by email at ar********@so************.ca or call 416.960.9995 to be in touch.
