Home staging is a relatively new concept to most people so it is easy to make assumptions that are often, unknowingly, incorrect. There is no doubt that this industry has come with its fair share of misconceptions.
However, holding on to these misconceptions can prevent home sellers from maximizing the profit on the sale of their homes. Read on to learn more about some common myths about home staging…
Myth #1: Home Staging is The Same as Interior Design
It is very easy to assume that staging is the same as interior decorating. However, while the fundamental basics of decor and design are the same, there is one key difference.
Home staging is, first and foremost is, a marketing strategy geared to appeal to the most amount of buyers and to evoke an emotional response. Just as visual merchandising is to retailers in drawing in consumers, home staging is to home sellers to draw in buyers.
Myth #2: Home Staging is Based on Personal Preference
This is another common misconception. Interior decorating caters to the homeowner’s wants, needs, and tastes, but staging caters to the wants and needs of the potential home buyer. We want to appeal to the masses and take demographics into account. When we know the demographics, we can target our ideal buyers and curate a product that will appeal to them.
Myth #3: Home Staging is a Significant Investment
Many people see staging as a cost or another expenditure. However, it’s an investment that saves time and earns more money than a seller is likely to get otherwise.
On average, a staged home sells 77% (National Association of Realtors) faster than an unstaged home. In a 2021 survey of 4,600 homes conducted by the Real Estate Staging Association, 73% sold over ask. In the same survey, staged homes sold for an average of $40K over list price. A pretty good ROI.
Home staging is still relatively new in many markets, so it’s easy to appreciate these common misconceptions.
At Simple Elements Home Staging and Design, we aim to make sure you’re not leaving any money on the table. So whether your home is owner-occupied or vacant, we can assist you in making the sale of your home a profitable one.
If you’re thinking about selling your home in the near future (or have a client who is), reach out to us. We can’t wait to meet you!
Until next time,