We all know if we want to make money, we have to invest some  to get started. Whether it is stocks, mutual funds, a home, or a business, we need to spend a little to make a lot. The key is to pick an investment that we can get a good return on for the price we pay for it. Home Staging is a marketing tool for selling your home that uses decorating to show off a home’s best features while downplaying its flaws. Done right, staging creates an emotional connection between home and buyer, leading to a faster sale at maximum value.

When homeowners or Realtors approach me as a professional home stager, their initial query often revolves around the cost of home staging.

However, the focus should ideally shift from “how much will home staging cost?” to “how can home staging enhance my property’s value and reduce its time on the market?” Think of home staging as an investment, not just an expense. The extent of this investment varies based on factors like home size, whether it’s occupied or vacant, and the division of tasks between the stager and the homeowner.

Typically, stagers offer a consultation for a fee and provide an estimate for additional services, either as an hourly rate or a set fee. If furniture or accessories are rented, there’s an added monthly charge.

Prices can range with consultations averaging between $400-$700 and subsequent staging services around $125/hour. The cost of renting furniture and accessories differs based on specific needs. It’s essential to remember that selecting a stager isn’t about finding the cheapest deal but ensuring quality. After all, in home staging, as in many things, you often get what you pay for.

The concept of home staging and its impact on the sale price of homes has been extensively studied by various associations and organizations. Here are some more detailed findings, particularly from the National Association of Realtors (NAR) and other entities, As of September 2021 the following information is available.

 

National Association of Realtors (NAR) 2019 Profile of Home Staging:

1. Impact on Sale Price:

   • 29% of seller’s agents reported a slight increase (1%-5%) in the dollar value offered by buyers for staged homes compared to non-staged ones.
   • 21% of respondents stated that staging increased the seller’s dollar value by 6%-10%.
   • 28% felt staging had no impact on the dollar value, and 2% reported a decrease in the value.

2. Impact on Speed of Sale:

   • The faster sale of staged homes was also highlighted, with 39% of sellers’ agents stating that staging greatly decreased the number of days homes stayed on the market.

3. Rooms Benefiting Most from Staging:

   • According to the NAR report, the living room was considered the most crucial room to stage, followed by the master bedroom, the kitchen, and then outdoor spaces.

4. Staging Cost:

   • While the value of staging was acknowledged, the cost was a consideration. About 28% of agents reported their sellers paid nothing because the agent provided the service. For others, the typical cost ranged depending on home size and market.

Real Estate Staging Association:

1. Time on Market:

   • Staged homes, on average, stayed 72% less time on the market compared to their non-staged counterparts.

2. Investment Return:

   • Various staging professionals have cited that the investment in staging often returns more than the cost. The exact ROI can vary but is often justified by a quicker sale and increased offer prices.

Other General Insights:

1. First Impressions Matter:

   • Many buyers first see a home online, and staged homes typically photograph better. This can increase interest and result in more showings.

2. Vacant Homes:

   • Staging can be especially crucial for vacant homes. An empty home can feel cold and uninviting, and it’s harder for buyers to visualize how they might live in the space.

3. Staging and Home Condition:

   • While staging can enhance a home’s appeal, critical repairs and home condition remain pivotal. A beautifully staged home with significant structural issues might still struggle on the market.

It’s worth noting that while these findings provide an insight into the potential benefits of home staging, the actual impact can vary based on various factors, including location, the current market condition, and the specific property in question. For the latest data or more specific regional insights, consulting up-to-date industry reports or local real estate experts would be beneficial.

 

I have found that home staging usually costs 0.5%-1% of the home’s value.  Considering it may increase the value a buyer may pay up to 10% or more, while also saving money on holding costs with a quicker sale, this is a pretty good investment!

 

Your results will depend on the quality of the home stager you hire, how well your realtor does of marketing your property, market conditions and you. Learn more in my article Why Your House Won’t Sell.

Let’s do the Math

If the median home price in your area is $479,000 as it is in my town, Seward Alaska:

1% increase is $4790

5% increase is $23,950

10% increase is $47,900

 

So what does this all mean? Let’s look at a three examples.

1.  Make 1% More with Home Staging: Say you spend $4000 on home staging and only make a 1% increase ($4790) over the sale price of $479,000.  You have paid back your home staging costs and made $790. You likely have also sold your house faster because it looks better than the competition. If you sell in a month, compared to three months for example, and your holding costs such as utilities, mortgage and taxes are $2000 a month, you have also saved yourself $4000.  Total increase or savings, $4790.

2.  Make 10% More with Home Staging: Say you spend $5000 on home staging and make a 10% increase ($47,900) on the sale.  You sell your house in a month instead of three months. You have paid back your home staging costs and made $42,900 plus your savings of $4000 in holding costs. Total increase or savings, $46,900

3. You choose not to invest in Home Staging:  You save the $4000-$5000 on home staging. You list your house for the average price of $479,000. If you are lucky and sell in a month at full asking price, your increase or savings would be $4000 on holding costs compared to not selling for three months.  This is still $790 less than had you staged and got a minimal 1% increase in the sales price as in scenario #1.  A more likely scenario is that your house does not sell in the first month because it will not outshine the competition, and your realtor recommends a price reduction of $5000 or more.  If your house is on the market for three months, and each month you go through another $5000 price reduction, at the end of the three months you have lost $15,000 from price reductions. You will also lose  $4000 in holding costs.  Total loss of $19,000.

In my experience, my average home selling client sells within a few days or weeks on the market and makes about 10% more.

A recent client had 2 over-asking price offers in 24 hours, 15 offers in 3 days and sold for $30,000 over asking which was 10% over asking. She paid about $1500 for her staging and made $30,000 from it, at a profit of $28,500 for her investment.

Does Home Staging Work in Every Market?

While it’s true we’re in a seller’s market, home staging holds value regardless of market conditions. Remember, even in favorable markets, some homes linger unsold. Staged homes consistently captivate more online and in-person interest, offering a modern, spacious, and turnkey appeal. This allure often results in elevated offers, possible bidding frenzies, and ultimately, a heftier profit for you

What is the Bottom Line?

Staging always cost less than your first price reduction.

Consider this: the boost in your home’s sale price, a swifter closing, and minimized holding expenses will often outweigh the initial outlay on staging. Moreover, a significant portion of the staging expense can likely be tax-deducted as an advertising cost for the home sale.

In essence, without staging, your home could witness a price reduction of 1-20% the longer it stays on the market. On the flip side, staging can amplify your selling price by 1-10% or more.

Think of home staging as a strategic investment.  A quicker sale reduces ongoing costs like mortgages and utilities and, importantly, eases the stress of the selling process.

How Does Home Staging Work?

Now that you know how home staging can help, if you are interested in knowing how much it costs and how it works, check out this videol

https://northernlightsstaging.com/wp-content/uploads/2020/01/Home_Staging_How_it_Works.mp4

Ready to Sell Fast and For More?

Get your online home staging consultation or staging service today. Click on the pictures to learn more. For in person consultations or staging, call for a custom quote.

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Make More on Your Home Sale with the Right Paint Colors

Updated for 2023. Studies show some colors in specific rooms,  increased the sales price in homes. Why? Color affects emotion and buyers buy on emotion!  This report gives you six specific color recommendations per room to help sell your house for more based on study results, top paint sales and professional experience. Mary Ann Benoit is a certified color expert and color strategist and professional home stager. Download now. Price: $4.99.

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When you decide to hire a home stager to decorate your property to sell faster and for more money, you need to make sure you’re investing in the right person. After all, you’re trusting someone with the sale of your largest asset–your home–so you have to be careful to put that trust in an experienced professional.

 

Having operated a successful home staging business since 2002, and having trained over 4,000 people worldwide about how to become a home stager, Staging Diva^® Debra Gould is well aware of what a homeowner or real estate agent needs to look for when selecting an expert home stager. Here are the five biggest mistakes Gould says that homeowners make when looking for a home staging professional:

 

1. Focusing on price

 

The last thing you should be focused on is how much the home stager is charging. Saving a few hundred dollars in fees and getting bad advice will cost you thousands if not tens of thousands of dollars. You have a budget in mind, of course, but you stand to make a huge profit from effective home staging. That’s why you should consider hiring a home stager as an investment in the sale of your largest asset. For optimal results, invest in the highest quality stager you can find.

 

Professional home stagers expect to earn anywhere from $250 to $500 for the initial consultation. Beware of anyone willing to work for significantly less for doing work that you stand to make anywhere from $10,000 to $70,000 in profit from.

 

Rates will vary depending on your geographic location and the stager’s experience, but you shouldn’t hire someone just because he or she charges a ridiculously low rate. As with most things in life, you get what you pay for.

2. Looking for credentials

Another common mistake is to look for “credentials,” since none exist in the home staging field. There is no governing body or official organization ruling over the home staging industry. There are no official home staging accreditations or certifications in this completely unlicensed field. The letters you see after some home stagers’ names simply come from a particular home staging training company that pushes them as part of their marketing strategy. Instead of relying on unofficial credentials, look at testimonials from past clients, before and after photos, and real estate knowledge.

3. Hiring someone without looking at a website or portfolio

It is recommended that you work only with home stagers who have a presence on the Web. Because you’re hiring a professional in a visual field, you want to see how they express themselves through their biggest marketing piece: their website. As an alternative to building their own websites, many graduates of the Staging Diva Home Staging Training Program list their businesses in the Staging Diva Directory of Home Stagers at www.stagingdivadirectoryofhomestagers.com. These listings are like mini-websites, allowing potential clients to view online portfolios and learn more about home staging businesses in their area.

A professional portfolio full of before and after photos is a must. How else will you know what kind of results you can expect from a real estate stager? Because some companies provide ready-made portfolios to home stagers as part of their training programs, it’s important to ask questions about the photos that are presented as a home stager’s own work. If the stager can’t provide details about the property or you’ve seen the same shots on another stager’s website from the same “school” or training program, this should raise a red flag.

If you can’t find a particular home stager’s website or any online proof of their existence, you have to question how serious they are about their business. Alternatively, if they have a very unprofessional website, you have to wonder whether they’ll be capable of staging your home the way you expect from a professional.

4. Not looking for references or a proven track record

Read through the testimonials you’ll find on most home stagers’ websites. If there are none available (or they only provide initials and not full names), contact the stager and ask if they have any references. You shouldn’t hire someone to stage your property without hearing about others’ experiences with them.

Every stager has to start somewhere. If they haven’t staged a client’s home yet, they should at least be able to tell you about the many homes of their own that they’ve bought, staged and sold, and be able to provide the names of real estate agents they’ve worked with when selling these homes. The idea is to look for practical experience.

5. Neglecting to hire someone with real knowledge of the real estate market

You’re not looking for someone who just knows how to decorate. Make sure the home stager knows the local housing market. A home stager is as much a part of the real estate industry as a real estate agent, and they should have a good grasp of the market they’re in. If a stager doesn’t know how much homes usually sell for and how long they typically sit on the market, you should look for another stager in the area.

Because there isn’t an independent organization or association monitoring whether or not a home stager is operating professionally and providing a high-quality service, it’s buyer beware. If you avoid these five common mistakes as you search for the perfect expert home stager for your needs, you should be pleased with the professional you choose.

Happy “House Stager” Hunting!

Written by internationally recognized home staging expert Debra Gould, The Staging Diva^®, www.stagingdiva.com. © Copyright Six Elements Inc. Used with permission.

 

Internationally recognized home staging expert Debra Gould is president of Six Elements and creator of the Staging Diva Home Staging Business Training Program with over 4,000 students worldwide. Gould is the author of four home staging guides and offers a Directory of Home Stagers to help homeowners and real estate agents locate home stagers who will decorate homes to sell quickly and for top dollar. To learn more, visit www.stagingdivadirectoryofhomestagers.com

Ready to Sell Your House Faster and For More?

Get a home staging consultation today.  For in person consultations or staging, call for a custom quote. 

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Interested in becoming a home stager? I recommend the Staging Diva Home Staging Training program!

Have you dreamed how to flip a house and make a profit? The first step is buying a great property with good potential to make a return on your investment. Then it is important to invest wisely in your repairs and upgrades. Finally, prepare the home for sale by having it professionally staged, create great curb appeal, get professional photos and sell it fast and at the high end of the price range for similar homes before you have any price reductions.

Invest Wisely

We have all heard the real estate rule of thumb about buying the worst house in the best neighborhood. That strategy gives you the greatest opportunity to make the most profit, as long as the investment needed to fix it up is less than the value of similar homes in that neighborhood in great shape. Do your research on market values for similar homes to know what you can reasonably list it for. Prices can fluctuate so consider that in your calculations.

Before making upgrades, consider what is typical for similar homes in the area so you get a good return on your investment. You don’t want to invest a lot of money installing granite counter tops, for example, if similar homes nearby have laminate counter tops. Consider what the typical finishes are for counter tops, flooring etc. Look at local listings on Zillow and the details for homes for sale to find out.

Of course, you want your house to stand out and look better than similar homes to get the highest price. Great design and color choices can make all the difference without having to spend more for higher cost materials. Do a consultation with an Interior Designer or color consultant to come up with a great plan before you purchase anything.

List High and Avoid Mistakes

There is a range of prices for similar homes in your market. You want the home to look in great condition so you can get an appraised value at the high end of that range and sell fast so you don’t have any price reductions. Time is the enemy of the house flipper due to holding costs. Price it competitively. Give yourself the best chance for success by using professional home staging and avoiding mistakes many home sellers make that cause a house not to sell quickly.

Connect with Buyers

The key to selling fast and for the highest price is making an emotional connection with buyers so they can envision themselves living in your for-sale home.

Hire a Professional Home Stager

The best way to connect with buyers is to get a consultation with a professional home stager and have them stage it for you. They are experts at decorating a home to highlight its best features, downplay the flaws and connecting with buyers so they can envision living there. They can give you paint color recommendations, stage it to appeal to your target market and give you tips for living in the home if needed while it is for sale. They can often use your existing furnishings and belongings to stage it and save you money on furniture and other rental fees if you plan to live in the home while it is listed. See my article on what to look for to find a great home stager to help you.

Don’t sell it Vacant

If you are not living in the home, you may be tempted to skip the cost of staging and sell it vacant. It is hard for any buyer to make an emotional connection with an empty house. They look a little sad and lonely! Buyers have a hard time visualizing how big the rooms are (they often look smaller with nothing in them to give a sense of scale), if their belongings will fit, how to arrange furniture and the purpose of different rooms. Without furniture and other things in the rooms, there is nothing to focus on except potential flaws. Vacant homes often stay on the market much longer, leading to price reductions.

Stage for your Target Market

Who is your target market? Is it a young family with children that are interested in your location near schools? A single professional? A retired couple? Look at who lives in your current neighborhood or is moving in. Check on Zillow to see how close the house is to different schools and what ratings they have. Stage your house to appeal to that target market. For example, to appeal to a young family with children, at least one bedroom should be decorated as a child’s room. A professional home stager will do this research and stage it to appeal to that market.

Increase Your Selling Price with Color

Before selling, consider your paint colors, inside and out. Did you know that the right paint colors in the right rooms attract buyers and can increase the sales price? The wrong colors can also reduce the price buyers are willing to pay. To find out more, check out my free report,  Top Paint Colors for a Speedy and Profitable Home Sale.

Great exterior colors and a memorable front door color can also make a big difference in helping your house stand out and be memorable with buyers….in a good way!

Get Professional Photos

The first step to getting buyers to look at your property is to outshine the competition online with great photos. Your home stager or realtor can recommend a professional real estate photographer to take photos of your beautifully staged home to attract buyers online.  Check out my tips on how to prepare for your photoshoot.

Get Buyers in the Door with Curb Appeal

Make sure you have great curb appeal with a neat and clean yard, and a welcoming front door.  Your online photos may get buyers to the property, but without great curb appeal they may just drive by and never make it inside. Here is a handy guide on how to increase your curb appeal. A great front door color, beautiful door mat and pots of flowers or outdoor art can make a big difference. Consider highlighting “outdoor living space”, which is a great selling feature to attract younger buyers.

You can do it!

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When it comes to home staging, you may be scared it will cost too much, you will offend your client by recommending it and possibly lose the listing. You may be worried it will take too long and you want to get the home listed as soon as possible. You also may be scared to recommend it and that it may not work. OK, all kidding aside, you may not be “scared”,  but maybe apprehensive or you are just not convinced it is the way to go. Please consider the following.

According to Debra Gould, “The Staging Diva” in her article 5 Secrets Real Estate Agents Need to Hear From Home Stagers, you should know five things.

1. Home staging will make it easier for you to market and sell your listings because your MLS photos will outshine the competition online and a staged home will show much better, enticing buyers to make an offer.
2. Most buyers shop online first and professional photos of a beautifully staged listing will attract more leads for you.
3. Home stagers can address problems and can tell your clients the things you don’t want to say for fear of offending your client and losing the listing. Let them be the “bad cop”, especially in situations where the clients are selling due to divorce and sellers may have differing opinions.
4. Home staging can help your clients sell faster and for more, and is a service the client should be paying for, not you. You can always offer a great benefit by paying for the initial consultation.
5. Home staging always costs less than the first price reduction. Wouldn’t you rather have a talk with the client about home staging than a price reduction?

You are probably concerned about the cost, and rightly so since you don’t get paid until the house sells. As mentioned above, the cost of staging should be paid by the seller. They after all, have the most to gain by a higher sales price and faster sale. Both of you will benefit from selling fast. Less stress and costs for the seller and you get paid faster! And of course the seller will love a higher sales price and that increases your commission.

 

Worried about how long it will take? It always takes  time to prepare a home and get it listed, so why not have the staging conversation right away. A good stager can get the job done quickly for you given a little lead time.

Still apprehensive of how to approach the initial conversation about staging with your client?

Susan Atwell, of Atwell Staged Homes recommends one way to handle it is to not to use the word “staging” initially but repeat the message that they need to “properly prepare their home” and that you have an outside consultant who can help.  Let them know that for an occupied home they will be living in while listed, the stager could help them for as little as $500 using what they already have. A vacant home will cost more, but they are also harder to sell as vacant homes don’t make an emotional connection with buyers. Learn more about the costs of home staging.

Still worried, what if it doesn’t work and you have recommended the client make the investment in staging? For years, the National Association of Realtors has published a yearly “Profile on Home Staging” showing the value of home staging. You can see the 2019 report here. Remember that the final results depend on  hiring a professional home stager with a proven track record of results, rather than the “cheapest” stager or having an unqualified, untrained person stage it.  It is worth helping your client find the best stager to do the job for them, even if it costs more.

Want to learn more? Check out our FAQs for Realtors on Home Staging,  or share our FAQs for Home Sellers on Home Staging with your clients.

Still “scared”? What do you have to lose? Well, a better-looking listing that shows better, sells faster, where you get paid faster with a higher commission and have happy clients that will give you great reviews!

Want to get started today? I offer online home staging consultations for sellers nationwide that you can recommend to your client so they can do the staging themselves with help from a pro.

Plan to do your staging yourself but not sure where to start? Send me pictures of your house and I will give you a detailed checklist of everything you can do inside and out to prepare your house to sell fast, sell high and appeal to your target market. as well as tips for living in your for sale home and preparing for your photo shoot. Perfect if you will be living in the home while it is listed. If your home will be vacant, I can give recommendations for paint, upgrades and preparation for market. . Learn more.

 

You can sell your house in any market fast and for more with Home Staging. Learn how, why and when home staging works, how much more you can sell your house for, how fast you can expect it to sell, how to find a great home stager and how much it costs. Home staging works and is a great investment!

Lately the market has gotten much slower and Alaska is reported to be facing a recession. If you need to sell your house, you can still outshine the competition. Home staging works in both a buyers and a seller’s marketand really helps you in a slow market.

Find out more information on how and why home staging works in our section on Why Home Stage?

Get more information on how to find a great home stager in my recent video interview on Home Staging Pros.

Find out more about how and why home staging works, how much it costs, what the process is like, how long it takes and what it costs. Check out our FAQs for Home Sellers on Home Staging report.

Call 907-362-0065 today

 info@northernlightsstaging.com