Staging should be top of mind if you want to attract the attention of your ideal buyer in a hot real estate market.
The housing market is hot in Niagara and beyond right now as retirees from the GTA, baby boomers, and others look to downsize to more modest digs. But just because you have more potential buyers in your midst doesn’t mean you should forgo staging. In fact, it should be top of mind if you want to attract the attention of your ideal buyer.
Here are 3 reasons you should stage in a hot market:
1) You’ll leave money on the table if you don’t stage
This is the first and perhaps the most important reason to stage even in a hot market. The 2015 National Association of REALTORS Profile of Home Staging states that 32% of buyers’ agents believe staged homes increase the dollar value buyers are willing to offer by one to five percent. 16 per cent believe it increases the dollar value by six to 10 per cent.
The reality is that the reasons for staging in a hot market are different than in a slower market – buyers are seeking their dream home, and you want to show them that your property fulfills all of their requirements so you can garner the most money for your investment. Just think: would you hate to leave $10,000 on the table because you didn’t invest $2,000 in staging?
The more buyers there are, the higher the final sale price will be, and you’ll be able to use those funds for anything from the down payment on your next house to investing in your retirement. This is no time to slack on staging – you need to stand out among the best!
Bonus tip: Short on cash? Choose a few main rooms to stage – living rooms, kitchens and master bedrooms are all popular choices.
2) You want yours to be the property potential buyers see first
Due to the aforementioned competition, buyers limit the number of houses they see to 10 and consider those within the top six. The remaining four are left on the reject pile. You want your house to be within the top four of as many buyers’ lists as possible, as those are the ones most often seriously considered for purchase.
3) A professional stager knows how to appeal to your ideal buyer
Reaching the maximum price point for your home is all about preparation and knowing your ideal buyer’s price point. The pieces the stager uses will be determined by the buyers you’re striving to appeal to – are they practical retirees looking for a homey atmosphere or young professionals with money to spend looking for a high-quality show home with a luxury feel?
Every detail counts, from the modern furniture you choose for your living room to the accent pieces that draw your eyes around the master bedroom, to the lighting in your dining room. Skimping on staging might mean a key detail gets missed, and you lose out on a fantastic opportunity.