Exploring the Value of Real Estate Staging and Selling Furnished Properties
BY SARAH BRONSTEINThe world of real estate is constantly evolving, with new trends and strategies emerging to attract potential buyers. One such trend that has gained significant popularity in recent years is the practice of staging and selling furnished properties. In this blog post, we will explore the value of real estate staging and delve into the benefits of selling properties complete with furniture and decor in place. Whether you're a homeowner looking to sell your property or a real estate professional seeking to maximize your sales, understanding the advantages of this approach can make a significant difference in the success of your transactions.
Here are some statistics that demonstrate how real estate staging can result in higher sales prices and quicker sales:
85% of staged homes sold for 5 to 23% over their listing price.
22% of sellers’ agents reported a 1% to 5% increase in selling price for homes that had been staged versus homes that were not.
A professionally staged home spends 73% less time on the market compared to those without staging.
Understanding Real Estate Staging
Real estate staging is the art of preparing a property for sale by enhancing its appeal to potential buyers. This involves strategically arranging furniture, decor, and other elements to showcase the property's best features and create a warm and inviting atmosphere. Staging goes beyond simple cleaning and decluttering; it aims to help buyers visualize themselves living in the space, thereby increasing the likelihood of a sale.
1. Creating a Memorable First Impression
First impressions matter greatly in the world of real estate. When potential buyers walk into a well-staged property, they are greeted with a visually appealing and well-organized space that immediately captures their attention and allows them to envision life in the space. This positive first impression can lead to increased interest and a stronger emotional connection with the property.
The use of professional staging can help highlight a property's strengths and downplay its weaknesses. For example, a small, awkwardly shaped room can be staged to appear more spacious and functional, while a room with unique architectural features can be showcased to its full advantage.
2. Maximizing Market Appeal
Every property has a target market, and staging can help tailor the presentation to appeal specifically to that demographic. Whether it's a family home, a trendy urban loft, or a luxury penthouse, staging can help create an ambiance that resonates with the intended buyer. By adding appropriate furniture, decor, and accessories, a staged property can effectively communicate its potential lifestyle to potential buyers.
For instance, staging a family home might involve setting up a cozy living room with family-friendly furniture and decor, while staging a downtown condo might focus on creating a sleek, modern, and urban atmosphere.
3. Highlighting Functionality
Staging doesn't just make a property look good; it also showcases its functionality. Buyers want to see how a space can be used effectively and efficiently. Staging can help define the purpose of each room and demonstrate how furniture can be arranged to maximize functionality and flow.
For example, a home office can be staged to show its potential as a productive workspace, while a spare bedroom can be set up as a guest room or a nursery to appeal to a wider range of buyers.
4. Sparking Imagination
Staging allows buyers to envision themselves living in the property, which is crucial for making a sale. When a home is staged to create a lifestyle that resonates with potential buyers, it becomes easier for them to imagine themselves in that space. This emotional connection can be a powerful motivator for making an offer.
For example, a beautifully staged backyard with outdoor furniture, a barbecue grill, and lush landscaping can help buyers picture themselves hosting gatherings and enjoying the outdoor space.
5. Setting a Competitive Advantage
In a competitive real estate market, a well-staged property can stand out from the rest. With so many listings available, it's essential to make your property memorable. Staging can give you a competitive edge by making your property more appealing, both in online listings and during in-person showings.
Professional photos of a staged property can also be a powerful marketing tool, attracting more potential buyers and driving up interest.
The Value of Selling Furnished Properties
While staging is valuable in its own right, selling furnished properties takes the concept to the next level. Here are some compelling reasons why selling a furnished property can be a winning strategy:
Convenience for Buyers
One of the most significant advantages of selling a furnished property is the convenience it offers to buyers. Moving can be a stressful and time-consuming process, and the idea of purchasing a home that's already furnished can be very appealing. Buyers can move in without the hassle of shopping for furniture, arranging deliveries, and setting up their new home.
This convenience can be particularly attractive to out-of-town buyers or those relocating for work who may not have the time or resources to furnish a new home immediately.
2. Increased Perceived Value
Furnished properties often command higher prices because buyers perceive them as having more value. The inclusion of quality furniture and decor can make a property feel more luxurious and turnkey-ready. This perception can justify a higher listing price and potentially result in a quicker sale.
Buyers may also be willing to pay a premium for well-curated, professionally staged furnishings and decor that create a cohesive and stylish look throughout the property.
3. Greater Appeal to Investors
Furnished properties can be particularly attractive to real estate investors, including those looking to enter the short-term rental market, such as Airbnb hosts. A furnished property can generate rental income immediately, as it's ready for occupancy without the need for additional furnishings.
Investors often seek out furnished properties for their income potential and the reduced upfront costs associated with furnishing a property from scratch.
4. Showcasing Unique Features
Furnished properties allow sellers to showcase unique and custom features that might not be immediately apparent in an empty space. For example, a built-in bookshelf, a cozy reading nook, or a custom-made dining table can be highlighted when the property is furnished.
These unique features can be selling points that set the property apart from others on the market and resonate with buyers looking for something special.
5. Emotional Connection
As with staging, selling furnished properties can help buyers form a stronger emotional connection to the home. When they walk into a fully furnished and beautifully decorated space, they can instantly imagine themselves living there. This emotional connection can drive them to make an offer more quickly and at a higher price.
6. Competitive Advantage
In some markets, selling furnished properties can provide a competitive advantage. If there is a demand for turnkey homes or a shortage of furnished properties, you may find that your listing receives more attention and multiple offers.
Additionally, furnished properties can stand out in vacation or resort areas where buyers are seeking a ready-made getaway.
Conclusion:
Real estate staging and selling furnished properties are strategies that can add significant value to your real estate transactions. Whether you're a homeowner looking to sell your property or a real estate professional seeking to maximize your sales, understanding the benefits of these approaches is crucial.
Staging creates a memorable first impression, maximizes market appeal, highlights functionality, sparks imagination, and sets a competitive advantage. Selling furnished properties offers even more advantages, including convenience for buyers, increased perceived value, appeal to investors, showcasing unique features, fostering an emotional connection, and providing a competitive edge.
By incorporating these strategies into your real estate sales approach, you can increase your chances of attracting buyers, commanding higher prices, and achieving quicker sales. In today's competitive real estate market, staging and selling furnished properties are powerful tools that can help you succeed.
As a professional interior designer and real estate agent make sure my clients' properties are marketed and staged to sell at top dollar. If you're interested in learning more about my services or just want to say hi please feel free to reach out using the contact info below or emailing me at sarah@sukkhainteriordesign.com.
