Home Staging Decreases The Time Needed To Sell A Property

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Home Staging Decreases The Time Needed To Sell A Property

Apr 20, 2023 | News | 0 comments

According to the “2023 Profile of Home Staging” report by the National Association of Realtors (NAR), almost half (48%) of seller’s agents stated that the time a home spends on the market decreases when it is staged. Additionally, 20% of both buyers’ and sellers’ agents said that staging a home can increase the offer price by 1% to 5% in comparison to similar homes on the market that were not staged.

The “2023 Profile of Home Staging” by NAR provides insights into the significance of home staging in the real estate transaction, covering viewpoints of both buyers’ and sellers’ agents, the influence of TV shows, and buyer expectations.

In January 2023, NAR conducted an online survey and invited 43,176 active Realtors to participate randomly. Out of which, 1,921 responses were received, resulting in an overall response rate of 4.4%. The margin of error is plus-or-minus 2.23% at the 95% confidence level.

The survey revealed that 81% of agents representing buyers held the opinion that home staging facilitated the process of buyers visualizing the property as their potential residence. The most crucial areas for staging a home, according to buyers’ agents, were the living room (39%), primary bedroom (36%), and the kitchen (30%).

The report also revealed that 23% of buyers’ agents staged all homes before listing them for sale, while 10% only staged homes that were challenging to sell.

The majority of Realtors believed that real estate TV shows had an impact on buyers’ perceptions of homes. Roughly 73% of real estate agents indicated that TV programs showcasing the home buying process had an impact on their industry by generating impractical or exaggerated expectations. Furthermore, 55% of Realtors stated that buyers expressed a desire for homes to appear staged like those on TV shows.

51% of Realtors who participated in the survey reported an increase in the number of buyers who intended to remodel a home in the past five years. Additionally, 25% of respondents stated that such buyers usually commence remodeling projects within the first three months of owning a home.

The survey also revealed that almost all Realtors (95%) reported that their buyer clients brought along family members who were not purchasing the home when viewing properties.