Hey wait a minute, they are the same reasons to stage in ANY MARKET!
- BE COMPETITIVE! You always want your property to look better than competing properties, or recently sold comparable properties so that you can justify/demand an even higher price.
- MAXIMIZE ROI! A property/home is usually a home-owner’s single most valuable asset—by investing in taking it to its full potential, you will maximize your return on selling that asset.
- MORE INTEREST—MORE OFFERS! A staged home will look better in photos and attract even more buyers, leading to a faster sale and higher chance of even moremultiple offers, driving the price higher still. So what if every property is already selling “over asking”. You should sell yours for “way over asking”.
- BE CATALOGUE-READY! It is not uncommon in a hot market for buyers to purchase a property sight unseen, especially if purchasing internationally. So at least if the pictures of the property listing look incredible, it will attract more attention among these buyers, and drive the price up.
- ALLEVIATE HESITATIONS! In a hot market, buyers don’t have the luxury of time to think through whether or not they want to buy a property. They need to be ready to make an attractive bid to the seller that will win them the property in a multiple offer situation. A staged home will make that buyer ready to pull the trigger without hesitation.
- YOU’VE GOT THE POWER—SAVE YOUR MONEY! With vacant properties, in a hot market, you want your buyer to give you the soonest closing date possible in order to minimize potentially thousands of dollars in carrying costs (e.g. property taxes, insurance, maintenance, utilities, condo fees if applicable, etc.). A staged home will create more competition among buyers to give you the best offer, with no conditions, and an ideal closing date.
- OFFSET ANY NEGATIVE ASPECTS OF THE PROPERTY! Even in a hot market, not every property will benefit. Location may play a factor, for example (not all neighbourhoods are created equal). A staged home will increase the value of the property to offset some of those factors.
- BE THE FAVOURITE! Other real estate agents are more likely to show the property to their clients if it shows well and looks move-in ready—an easy sell!
- CREATE GREATER MASS APPEAL! For occupied properties, a staging consultation provides an objective opinion about the property, and staging will help to ensure the property appeals to the target buyer. The key is to neutralize the property so that it appeals to as many people as possible.
- SELL A LIFESTYLE THAT PEOPLE WANT INSTANTLY! For vacant properties that would otherwise feel empty, staging creates an inviting atmosphere and makes a property feel more like a home. It helps the prospective buyer to visualize living in the property. In addition, empty rooms tend to look smaller when they are not furnished.
At the end of the day, if your home is not at 100% when you sell in this HOT market, will you regret it and always wonder if you could have done better? Have no regrets and make the most of your most prized possession.
Owner, SpaceStyle Home Staging, Organizing and Design
Have a question? Feel free to contact me at info@SpaceStyle.ca, or suggest a topic for a blog post.