Home staging decreases time on market

 

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Summer cloud and beach scenes photographed with an Iphone 6
Staff video by Mark R. Sullivan
Mark R. Sullivan

 

WASHINGTON  – Sixty-two percent of sellers’ agents say that staging a home decreases the amount of time a home spends on the market, according to the National Association of Realtors 2017 Profile of Home Staging, www.nar.realtor/reports/profile-of-home-staging.

“Realtors know how important it is for buyers to be able to picture themselves living in a home, and according to NAR’s most recent report, staging a home makes that process much easier for potential buyers,” said NAR President William E. Brown, a Realtor from Alamo, California and founder of Investment Properties. “While all real estate is local, and many factors play into what a home is worth and how much buyers are will to pay for it, staging can be the extra step sellers take to help sell their home more quickly and for a higher dollar value.”

According to the report, which is in its second iteration, nearly two-thirds of sellers’ agents said that staging a home decreases the amount of time the home spends on the market, with 39 percent saying that it greatly decreases the time and 23 percent saying it slightly decreases the time. Sixteen percent of sellers’ agents believe that staging either greatly or slightly increases a home’s time on the market, while 8 percent believe that it has no impact.

Seventy-seven percent of buyers’ agents said that staging a home makes it easier for buyers to visualize the property as their future home, and 40 percent are more willing to walk through a staged home they first saw online. However, 38 percent of buyers’ agents said that staging positively affects a home’s value if the home is decorated to the buyer’s taste, meaning that a home’s staging should be designed to appeal to the largest number of potential buyers.

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Realtors representing both buyers and sellers agreed that the living room is the most important room in a home to stage, followed by the master bedroom, the kitchen, and then the yard or outdoor space. The guest bedroom is considered the least important room to stage.

The highest share of buyers’ agents, 31 percent, reported that staging a home increases its dollar value by 1 to 5 percent. Thirteen percent said that staging increases the dollar value 6 to 10 percent, while 25 percent stated it has no impact on dollar value. Only 1 percent of buyers’ agents felt that staging has a negative impact on a home’s dollar value.

In March 2017, NAR invited a random sample of 53,760 active Realtor members to fill out an online survey. A total of 1,894 useable responses were received for an overall response rate of 3.5 percent. At the 95 percent confidence level the margin of error is plus-or-minus 2.25 percent.

The National Association of Realtors, “The Voice for Real Estate,” is America’s largest trade association, representing more than 1.2 million members involved in all aspects of the residential and commercial real estate industries.


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