In Toronto & the GTA houses are flying off the shelf.…
– but staging isn’t just about getting the home sold quickly.
Staging in a Seller’s Market
What is a “seller’s market?”
A market with more homebuyers looking to purchase homes than actual houses listed for sale. This usually results in rising home prices, greater competition and bidding wars - as we have clearly seen in the Greater Toronto Area!
In Toronto and the GTA houses are flying off the shelf – but staging isn’t just about getting the home sold quickly.
5 Reasons why you should stage in a hot market:
1. Creating an emotional connection.
A well staged listing creates an emotional connection with buyers, they fall in love and and would be willing to spend it all to snatch that home up!
A study on home staging conducted in 2021 by the National Association of Realtors reported that 82% of buyers’ agents said staging a home made it easier for a buyer to visualize the property as a future home.
Set your listing apart from the other homes on the market and it will also yield higher offers.
2. The buyer may overlook repairs.
With interest rates at all-time lows, and with many homes selling well above asking price, a buyer may have little or no money left over to renovate or update the home. A good stager knows the most cost-effective updates to get the highest (ROI) Return on investment for your home.
3. More views on MLS
“A picture is worth a thousand words…” Henrik Ibsen
Did you know that 99% of millennial homebuyers start the search for a home online?!?! So even in a hot market photos are essential to drawing the top buyer in. The quality of photos can create a strong initial emotional reaction that is crucial to drawing the buyer in to see the home in person – sealing the deal!
4. Wow, this place is huge!
Believe it or not, a vacant home show smaller than a staged home! Staging Professionals know how to scale furniture and accessories to a room to illuminate it’s best features and size. They can show the best potential and possibilities of the space.
5. Numbers don’t lie…
According to the Real Estate Staging Association (RESA) which we are a proud member of:
With an average investment of 1% of the sale price into staging, approximately 75% of sellers saw an ROI of 5-15% over asking price.
For example: The listing is $1,000,000
1% staging investment = $10,000 staging investment
The listing sold for 5-15% over asking = $50,000 - $150,000 over asking
Less the initial investment of $10,000
That's a 400%-1,400% return on the STAGING investment!!
Some say the housing market is starting to cool, however staging is a crucial part of the selling process in any market. For the majority of people, this is the largest purchase they will ever make – create that connection for them, make them fall in love and invest the money to secure the home. Contact us to ensure you don’t leave any money on the table!
Thank you to Staging Studio for the inspo for this blog: https://www.stagingstudio.com/blog/why-stage-in-a-sellers-market
