Why Stage in a Sellers Market?
The results of staging in a sellers market are not always obvious! Often the results of those efforts are lost in the frenzy of the market. However, regardless if you plan to stage your home yourself or use a professional, putting your best foot forward is important. You never get a second chance at a great first impression.
It is commonsensical in nature, preparing your home to look good both online and in person is important in any market. Informed sellers, investors and realtor all know staging in a sellers market makes a measurable improvement in the marketability and the perceived value of a home.
A Seller’s Market defined:
A seller’s market relates to the economic principle of supply and demand. A Seller’s market is where there are more buyers than there are listings or homes available for sale on the market. Because of this imbalance home prices typically increase and there is typically more competitive bidding on homes. This dynamic typically results in the seller having the upper hand when it comes to negotiating the sale.
Is Las Vegas a Seller’s Market?
As of July 2021, there is currently less than one months supply of housing available in the the market. A traditional balanced market would be about a 6 month supply. This imbalance is often referred to a sellers market.
Do I Still Need Professional Staging in a Seller’s Market?
According to Redfin and our own success stories, the short answer is: yes. Staged homes perform better in any market, even a sellers market. It is easy to get caught up in the frenzy of an unbalanced market, but don’t loose sight of the importance of merchandising the home. Staging is visual merchandising that usually results in a quicker sales for more money.
These facts are sometimes harder to quantify and separately identify in a Seller’s Market. Staging in a sellers market may even be more important in this fast and frenzy world of online review. If you consider 85% of home buying starts with online previews, you quickly realize it is both fast and easy to size up the competition. These photos are online currency to insure your listing is the one buyers choose to preview in person.
Home Staging Improves Buyer Leads
You likely would not go to an interview in shorts and flip-flops. Staging a home is putting your best foot forward, creating online currency resulting in more buyer leads. Since online photography is where 85% of buyers choose listings to view in person, it is important the homes photography stands apart from the competition. And, since this is the basis most buyers use to qualify homes to preview, it is important the home is visually engaging online.
Home Staging Improves Offers
According to the National Association of Realtors, 37% of buyer’s agents said that staging increased offers between 5 and 10 percent. Home buying for most consumers is an emotional purchase. It is a place they plan to raise families and spend quality time. Staging in a sellers market may even improve those statistics beyond the NAR’s staging study.
Staging Makes Buyer Visualization Easy
It is both easier for a buyer to visualize themselves in the home and how to use the space in homes that are staged. Staging takes the question mark out of the home and each room and allows buyers to understand how they would live in the home. Buyers that can visualize themselves in a space are considerably more likely to make an offer.
Your Stager Wants You to Get the Most Out of Your Listing
Whether you are a regular homeowner, builder, flipper, or Realtor, bringing in someone to critique your listing can be scary. But it’s not our job to judge. It’s our job to advise and to market your property to the people who will love it the most.