Home Staging Report Released By NAR Shows It Leads To Decreased Time On Market

Home staging is the art of preparing a residence for sale in the real estate marketplace.  In the past, agents and sellers were perplexed at the idea of promoting their homes and what needed to be performed in order to put the property in the most interesting light.  As time has gone by, owners and agents are not either becoming more aware of what is necessary in the area of home staging or are using professionals that commit all their time to the science.  In New York City, many realtors and property management companies have used the services of professional home stagers to promote their units and will continue to utilize their resources.

The National Association of Realtors recently released the 2017 Profile of Home Staging.  In the profile, buyers and sellers agents were asked in their view, how home staging impacts the overall real estate transaction.

According to the July report, about two-thirds of sellers' agents said that staging a home decreases the amount of time the home spends on the market, with 39 percent saying that it greatly decreases the time and 23 percent 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 percent believe that it has no impact.  On the buyers side, seventy-seven percent of buyers' agents said that staging a home makes it easier for buyers to visualize the property as their future home, and 40 percent are more willing to walk through a staged home they first saw online.  Forty-nine percent of buyers' agents said that staging has an effect on most buyers. Another 48 percent stated that staging has an effect on some buyers' opinion of a home, but not always, and only 4 percent said that it has no impact on buyers.

With respect with how staging affects the value of the property, 31 percent of buyers agents stated that staging a home increases its dollar value by 1 to 5 percent. Thirteen percent said that staging increases the dollar value 6 to 10 percent, while 25 percent stated it has no impact on dollar value.  Sellers agents were more positive in that 29 percent reported an increase of one to five percent in dollar value offered by buyers, 21 percent reporting an increase of 8 to 10 percent, and 5 percent reported an increase of 11 to 15 percent.

Realtors then recommended improvements that can affect their showing.  Ninety-three percent recommend decluttering the home, 89 percent recommend an entire home cleaning, and 81 percent recommend carpet cleaning.  Landscaping and paint touch-ups are also recommended to give properties a great first impression.

Blue Harbour Property Management is a full service NYC property management company servicing the boroughs of Queens, Brooklyn, Manhattan and the Bronx.  Whether it be a 1 bedroom condo or multi-family building we are able to assist our clients maximize their investments.

http://www.blueharbourpropertymanagement.com/home-staging-report-released-nar-shows-leads-decreased-time-market/