Does Home Staging boost the sale price?
Buyers are always for the hunt for undervalued homes. However, if buyers hope to purchase an under valued home, it will be those homes that are those which are poorly renovated or in the original state, which is not renovated cat all.
Most buyers claim that they are able to visualise an unrenovated or cluttered home but truth be told, they are unable to visualise it. They would prefer to view and eventually purchase a home which looks beautiful and do not have an idea of how to "renovate" the terrible looking house which they had viewed during the short period of time.
This is where home staging plays an important role to help the home owner setup their homes beautifully and cast their net to attract a larger pool of potential buyers.
2 options for owners to choose when selecting one of the plans.
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Fixed Pricing Model - An amount is charged by the Salesperson to the owner regardless if they sell the house or not.
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Outcome Pricing Model - A percentage of the sales commission. A typical sales commission cost around 2% while a sales commission with home staging may cost around 3 to 4% depending on the area of the unit.**
And yes, it is worth it. In a buyer's market whereby Buyers have a bigger say Sellers may soon have no choice but to incorporate home staging as part of the marketing strategy in selling the house. In a buyer's market, there is a lot of supply of houses to sell both in the new launch and the resale market. This will not be the case in the near future as stocks are almost depleted. We shall discuss this in another article.
However, owners should also be aware that whenever video is taken by a video crew, the marketing agent's costs will rise correspondingly. This may be in the form of higher commissions which the Salesperson may request from the owner.
Key Takeaways - Does Home Staging Actually work ?
In essence, home staging is one option that Property sellers cannot and should not ignore when marketing the house for sale especially in this digital age where every property can be searched online. This digitization of property listing and viewings accelerated during Covid-19 pandemic and have "forced" industry players along this path.
Hence, we strongly encourage owners to engage a property agent who is able to setup Home Staging for your estate. Do let us know if you need more information and we will do our best to provide it.
