How do they come up with all of these Home Staging Statistics anyway?

I have Realtors®, home-sellers, and potential clients ask me consistently.

As a Home Staging Professional, I love to blog on regularly expressed areas of concern or confusion.

Statistics.... If you have been keen on the Real Estate Market for any amount of time, you have seen or heard all of the claims and numbers regarding the efficacy of Home Staging when listing a property for sale.

•1.  Home Staging sells a property in up to 50% less time, and for 7-10% more money.

•2.  In 2009, over 98% of buyers stated that they created their "short-list" of homes to view solely on the internet.

•3.  The most important, longest lasting, first impression is made as the buyer walks through your front door, and is created and solidified all within a mere 4-6 seconds.

•4.  8 out of 10, or 80% of people are spatially challenged and cannot determine available floor-space in a property unless there are existing furnishings and decor for a sense of scale.

•5.  Home Staging provides, on average, a 586% ROI (return on investment).

•6.  Vacant Homes sit for, on average, double the amount of time on market than Staged Unoccupied Homes.

The list goes on, and on.

Quite impressive.

But, if you are anything like me, we are always scrutinizing published "Stats", as there are so many factors that can influence the results of any study.

Some common questions I ask about any Statistics are what was the composition of the sample group utilized, which company did this study, how many people were in that sample group, and how do I know if the results have not been skewed based on biases of the group who ordered the study?

Well, I am here to tell you that I would NOT quote these stats or publish them on my website if I was not 150% confident that these statistics are, in fact, quite modest.

As a Home Stager, I work with Home-sellers on a daily basis. Guess what?

All Home-Sellers are also currently Home-Buyers....at the same time. If they are selling their home, obviously, they are also searching for their new home. All of the Home Staging Statistics describe purchasing behaviours of BUYERS, and what moves them to make a healthy offer on a property.

I am literally conducting accurate, up-to-the-minute market research every day as part of my profession. I TALK to my clients. I ask my clients questions. To be successful at what I do, I crave and require information from my clients whom are all Home-Sellers AND Home-Buyers.

I consistently confirm that Buyers WILL pass the Vacant listings by because they all look and feel the same....Cold, empty, and way smaller than they actually are.

I consistently confirm that Buyers WILL NOT make an offer on a cluttered, dirty, dated, or decrepit property.

And, MOST IMPORTANTLY, my own personal Business Statistics prove that properties that have been Professionally Staged do sell in half the time and for at least 7-10% more money.

 

 

Rhonda Wilson - CCSPTM
Owner/Operator of
Revealing Assets
Home Staging and Decluttering Services
http://www.RevealingAssets.ca
RevealingAssets@shaw.ca
780-913-5589 
We transform properties into highly
sought-after products that sell in half
the time and for 7-10% more money.
Through personal experience, extensive
research and training, and a compassionate
approach, we De-clutter living/work spaces for
up-lifting and positive life changes.

Edmonton, Alberta, Canada

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Comment balloon 6 commentsRhonda Wilson • November 21 2010 02:55AM

Comments

Suggested - I have wondered that myself!

One of our REO agents stages all of her foreclosures - what a difference, especially when the buyers are expecting a trashed house and walk into fresh flowers and lovely decor.

Posted by Virginia Hepp - Mesquite NV REALTOR, Mesquite NV Homes and Neighborhoods - Search MLS (ERA - Mesquite NV Homes For Sale) about 8 years ago

Virginia!!! Thank you so much for suggesting!

I actually just finished Staging a condo-foreclosure, and this is the type of feedback we have been getting as well. Buyers expect to find quite a story inside a foreclosure that is told by the damage or filth.

So, we did a thorough cleaning, and managed to actually work with the belongings that were abandoned there to Stage it nicely.

Buyers are a little alarmed, but there has been a lot of activity on it thus far. It will be very exciting to see how quickly it sells!!

Posted by Rhonda Wilson (Revealing Assets - Home Staging Services) about 8 years ago

You're kidding right?  Do you really think any educated person will believe this?

You're posting stats without supporting cites... and no, your personal research isn't sufficient.

You're calling your clients and potential clients "spatially challenged".  I'm sure they have some choice descriptive words for you too.  Since you're posting stats you've created... let me do the same... 92.4% of buyers will over estimate the size of a room which is void of furniture... meaning they think empty rooms are larger than those with furniture.

Your claim below your signature line is misleading and we both know it.  You cannot claim to know what a property would have sold for without staging (just like you cannot claim to know what a non- staged sale would have sold for WITH staging).  After changing out that shower curtain and placing the lotion in the cabinet... take a look in the mirror.

Posted by Cameron Novak, Featured Corona Real Estate Agent Team (The Homefinding Center) about 8 years ago

Cameron, thank you for your response.

Actually, I have ALL of the supporting cites for all of the posted stats, which is why I simply linked to my website, where all graphs and studies are posted, including all cites. In order to keep the length of my post down, I simply linked elsewhere, but they are there. Check them out if you would like to.

There is nothing demeaning about the the description, "spatially challenged".

And, no, I have not "created" any of these stats. You can find these stats repeated from source to source. Homegain.com, Certified Staging Professionals, Coldwell Banker, Maritz Market Research, and the list goes on.

Cameron, yes, we absolutely CAN "claim" to know what Staged properties vs. Un-Staged properties sell for in comparison. It is all based on close comparables.

Come on now, you are in Real Estate.

You should know this by now, silly boy. 

How are all Real Estate Stats derived?

Just one example: I Staged a Vacant 1-bedroom condo in a building with 11 other Vacant 1-bedroom suites for sale. All 11 of those other suites (all same floor-plan and sq. footage) had been sitting for more than 60 days on the market.

The condo I Staged hit the market at a price higher than any of the other 11 comparables, and sold in 3 days for asking price.

I do feel sorry for you, however, that you are in such a foul and negative mood. Naps are wonderful for rejuvenating the spirit.

I wish you nothing but success, health, and happiness.

Take good care of yourself, and, hey, try to be a little more kind to others in the sandbox, hey?

Posted by Rhonda Wilson (Revealing Assets - Home Staging Services) about 8 years ago

When you have $20K, $30K, $40K homes, low prices, no room for staging or need kick in. Low cost homes free of debris sell easier than ones with six, seven and more zero places.

Posted by Andrew Mooers | 207.532.6573, Northern Maine Real Estate-Aroostook County Broker (MOOERS REALTY) about 8 years ago

Andrew, this is absolutely correct in some cases. When you have the dirt-cheap listings that simply WILL sell quickly due to price being so low, CLEAN and DE-CLUTTERED is key!

When the seller does not stand to gain any profit on the sale, AND the Pricing dictates an inevitable quick sale, Home Staging is not necessary. You are absolutely correct.

Have a great day!!

Posted by Rhonda Wilson (Revealing Assets - Home Staging Services) about 8 years ago

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