Staging Defined
Most people know what “staging” a home means, but many sellers don’t know the ins and outs. When it’s time to sell your home, you want to make sure it’s appealing to as many home buyers as possible and staging can make all the difference.
If you’ve never been to a new builder’s model home, if one is nearby, go visit. This will give you an excellent idea of what a staged home looks like. Big builders spend a lot of money deciding what current buyers desire in a home. They make it as enticing as possible because they know that properly staged homes sell faster and for more money.
If your home is an average sized home (2500 sq feet) in La Jolla where the medium sales prices is $3.5 million, hiring a staging designer consultant will cost you from $250-$1,000 for a 1-2 hour appointment. Various research shows that a well staged home can add 5%-12% more to seller’s profits.
As an example, if you own a $500,000 house unstaged, it could sell for $50,000 or more when it’s professionally staged. And instead of being on the market for 2-6 months, it might sell in the first week, so you don’t have months of lookie-loos invading your privacy.
The Impact of Staging on Profits
Cost Considerations
Much depends on where you live and the home’s square footage. If the home is in Chula Vista where the average home is about $800,000 and it’s 1800 square feet, staging can range from a simple designer consultation of $150 to $300 to a fully staged home which will run from $4,000-$8,000 for 3 months.
If your home is in La Jolla where the average detached home sells for $3-$4 million, with about 2500 square feet, a designer’s consultation can be from $250-$1,000 for a 1-2 hour appointment. Fully staging this typical La Jolla home will cost you $6,000- $10,000 or so for 3 months.
Staging Levels
As mentioned, the most affordable is just the staging company’s designer giving you ideas for DIY (do it yourself) staging. There are various staging levels:
- Level 1, as mentioned above, is a simple 1-2 hour consultation. The designer will go through your entire house, inside and out, and share ideas that you can complete yourself.
- Level 2 is when the staging company will let you leave some of your furniture and accoutrement, but add additional staging company’s furniture, paintings, and decorator touches. This level will run you from $3,000-$6,000 for 3 months. It will depend on the size of your home and how much of the staging company’s property is used.
- Level 3 is when only the main rooms in a vacant home are staged. This typically covers the kitchen, dining and living room, primary suite and bathroom and any other bathrooms on the main level. This will run from $4,000-$7,000 for 3 months.
- Level 4 is a full, inside and outside staging effort. All rooms are staged, along with the backyard patio area. This will cost you from $6,000-to over $10,000 for the first 3 months.
Is staging worth it?
Staging can cost you a few hundred dollars, or over $10,000 for the first 3 months. As I mentioned earlier, staging can help increase your selling price from 5% to over 12%. Let’s say you own an average $4,000,000 home in La Jolla and the staging increases its marketability and value by a conservative 5%. 5% of $4,000,000 is a sweet $200,000! Would you invest $8,000 to profit an additional $200,000? Of course! That’s the power of staging!
Who Pays for It?
Typically, the seller does. The good news is that it’s a part of your sales cost and the IRS will normally allow you to deduct it from your taxes, so that makes it even more affordable. Be sure to check with your CPA and keep all your bills and receipts.
Most realtors in average areas won’t incur this additional cost as part of their marketing program, but some do. As I told my kids when they were growing up, “Ask, and you shall receive. Don’t ask, and you don’t get anything.” If the home is an estate home in areas like La Jolla, Del Mar and Rancho Santa Fe, that’s listed for about $4 million and above, some agents including myself, might be willing to pay part or all of the staging costs. Remember, everything is negotiable.
Finding the Right Stager
All urban areas will normally have several staging companies to choose from. It’s a good idea to hire a highly experienced agent who has a list of top stagers for your area. Look at the stager’s website to determine their cost, services, and styles. Professional realtors® will have a long list of vendors they’ve worked with over the years. This will include staging companies, lenders, inspectors, title, escrow, insurance brokers, termite companies, contractors, cleaning crews, landscapers, and pretty much everything that’s involved with a successful real estate transaction.
This is one of the many reasons to interview several agents before making your choice. The agent you choose can make or break your real estate experience.
Tips and Tricks for Effective Staging
- Declutter and Depersonalize: Clear away personal items to allow potential buyers to envision themselves in the space.
- Neutral Color Palette: Opt for neutral tones for walls and furnishings to create a blank canvas for buyers.
- Maximize Natural Light: Open curtains and blinds to let in natural light, creating a warm and inviting atmosphere.
- Strategic Furniture Placement: Arrange furniture to highlight the flow of the space and showcase key features.
- Enhance Curb Appeal: First impressions matter. Ensure the exterior of your home is well-maintained and inviting.
Conclusion
Staging isn’t just a nice-to-have; it’s a must-do for sellers looking to maximize profits and sell quickly. The investment in staging can yield significant returns, often far exceeding the initial cost. Whether it’s a modest family home or a luxury estate, staging has the power to transform a property and capture the hearts of potential buyers. So, when it’s time to sell, don’t overlook the impact of a well-staged home.
If you’re contemplating a home sale or purchase in the San Diego area, don’t hesitate to contact me for a complimentary consultation at 619-344-1926 or email me at chasen.chess@pacificsir.com.
To receive a complimentary copy of my popular article – “The Top 7 Questions Every Seller Must Ask a Realtor® Before Signing a Listing Contract”, click here.
If you’re a buyer and want to grab a copy of my powerful article called – “The Top 7 Questions Every Home Buyer Must Ask a Realtor® Before Hiring One”, click here.
Disclaimer:
As a dedicated real estate agent, I offer this blog post for informational purposes only. It is not intended as financial or legal advice. For personalized guidance regarding your specific real estate needs and circumstances, please consult with a qualified professional. My expertise lies in assisting clients with their real estate transactions, and I am here to provide the best possible service in that regard.
Chasen Chess © 2024, Pacific Sotheby’s International Realty, DRE-10011675
