In a 2015 survey, the National Association of Realtors in the U.S.A. reported that 81% of buyers find it "easier to visualize the property as their future home" when it is staged, and 28% of buyers are more willing to "overlook property faults" when the home is staged.
Another study by the Real Estate Staging Association (RESA) in 2011 looked at how long staged and unstaged homes sit on the market. Of the staged homes, 410 sold within an average of 42 days. On the other hand, 174 homes left unstaged stagnated for 156 days, after which their sellers agreed to stage them. Once staged, the homes sold within an average of 42 days as well.
Whilst location, quality, and the value of the home are the defining factors in its sale, staging is a tried-and-tested marketing strategy that makes the home more appealing. The drawback to staging, however, is its cost. And homes do sell without staging. So how do you know when to stage a property you're selling, or to leave it as is? Consider these three factors:
1. Budget. Whether you have the money for staging or not will ultimately dictate your options. Repairs are much more important than dressing the house up. Put your money into making sure that the house has no leaks, no structural issues, and has plumbing and electrical utilities in good shape.
2. Location. A coveted location matched with a well-priced home make an attractive product, staged or not. Buyers and investors will take interest in your home, even if it is undecorated, so long as you’re in an upward-moving neighborhood and if the house has potential for improvement or a good return on investment.
3. Competition. Staging is a means to stand out amidst competition. If someone else is selling similar property in the same location, and for the same price, staging your home should get it extra points from interested buyers.