62% of downtown Boston sellers’ brokers say that staging Midtown condo decreases the amount of time a home spends on the market, according to the National Association of Realtors® Profile of Home Staging, www.nar.realtor/reports/profile-of-home-staging.
In the article it states:
“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, nearly 2/3rd’s of sellers’ agents said that staging a condominium decreases the amount of time the home spends on the market, with 39% saying that it greatly decreases the time and 23% 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% believe that it has no impact.
77% of buyers’ agents said that staging a home makes it easier for buyers to visualize the property as their future Beacon Hill home, and 40% are more willing to walk through a staged home they first saw online. However, 38% 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.
49% of buyers’ agents said that staging has an effect on most buyers. Another 48% stated that staging has an effect on some buyers’ opinion of a home, but not always, and only 4% said that it has no impact on buyers.
The highest share of buyers’ agents, 31%, reported that staging a home increases its dollar value by 1 to 5%. In addition, 13% said that staging increases the dollar value 6 to 10%, while 25% stated it has no impact on dollar value. Only 1%of buyers’ agents felt that staging has a negative impact on a home’s dollar value.
Sellers’ agents report even more value is added from staging: 29% reported an increase of 1 to 5% in dollar value offered by buyers, 21% reporting an increase of 8 to 10%, and 5% reported an increase of 11 to 15%. No sellers’ agents reported a negative impact.
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.