What First-Time Sellers Must Know About Staging A Luxury Property

man and wife juggle moving boxes while selling their home
Luxury property staging may hasten the homebuying and selling process, but only if it’s properly done.

Did you know that the living room is the most commonly staged part of a house for sale? Luxury property staging may hasten the home-buying and selling process, but only if it’s properly done.

First-time sellers should also know the differences between staging and styling properties. For example, you won’t need minor repairs or maintenance work when styling your home.

Unlike home staging, the general purpose of styling properties could also be as simple as rearranging furniture.

Experts such as Forbes Next 1000 entrepreneurs like Elizabeth Sutton can offer valuable advice. At the same time, it’s useful to know research-backed concepts of staging luxury properties.

a woman looks at a magazine in a staged, modern living room

More than 80% of the buyers’ agents said that their clients had better visualization when touring staged properties. Aside from the living room, prospective buyers also wanted to see staged kitchens and master bedrooms.

Staging Helps Buyers To Visualize The Property

The National Association of Realtors (NAR) randomly surveyed 58,300 property agents in 2021. Almost 60% of respondents noticed more buyers from 2016 to 2020 with plans to remodel houses.

Based on this insight, home staging would then allow buyers to imagine how they would use a luxury property for sale.

More than 80% of the buyers’ agents said that their clients had better visualization when touring staged properties. Aside from the living room, prospective buyers also wanted to see staged kitchens and master bedrooms.

Most commonly staged rooms based on level of importance:

  1. Living room
  2. Master bedroom
  3. Kitchen
  4. Dining room
  5. Yard
  6. Bathroom
  7. Children’s room
  8. Guest room

A professional staging-service provider costs more than enlisting the help of agents themselves, according to the NAR report.

Property sellers spent more or less than $1,500, which is the median dollar value spent on professional staging services.

white-hued living room with staged furniture and decor

Curb appeal arguably remains the most crucial element for staging properties.

Higher Dollar Value Linked To Home Staging

Home staging becomes more necessary if you wish to attract higher bids. Be aware, though, that it’s rare for buyers to place bids with a 20% premium.

The NAR noted that up to 5% seems to be the most typical increase in bids, based on insights from 23% of the buyers’ agents.

Only 3% of the buyers’ agents said that the offered bids rose by up to 20% after seeing a staged home, while 2% reported a more than 20% increase.

newly built home with a for sale sign out front

Increases of up to 5% are the most typical when it comes to the bidding process, based on insights from 23% of the buyers’ agents.

Home Staging May Reduce Days On Market

Another benefit of staging properties involves faster sales. More than half of the surveyed sellers’ agents said that staging reduced the property’s time on the market.

Some of the most recommended tips for sellers include:

  • Decluttering the home
  • Cleaning the entire property
  • Hiding pets during an open house
  • Improving curb appeal

Curb appeal arguably remains the most crucial element for staging properties. Some buyers decide within seconds after just seeing your home’s façade.

If you want to make your home appear much bigger, then consider minimalist staging for rooms. One simple trick: remove as much as furniture to see as much flooring space as possible.

Luxury apartment sellers may particularly benefit from creating a bigger floor space, which is among the top luxury home upgrades in Hong Kong.

real estate technology promo showing hand holding smartphone in front of house

Nearly 70% of NAR’s survey respondents revealed that disappointed buyers compared properties with the ones they saw on TV.

Invest In Online Resources

Virtual house tours became more common because of the Covid-19 pandemic. First-time luxury property sellers should anticipate that online open houses could be the norm even after the pandemic’s end.

Pay special attention when staging luxury properties to resemble featured homes on TV.

Nearly 70% of NAR’s survey respondents revealed that disappointed buyers compared properties with the ones they saw on TV.

For this reason, a well-staged luxury home requires the help of an experienced professional. Choose from a curated list of agents now to get the best advice on staging a luxury property.

Author

Randolf Santos has covered different segments of the real estate industry since 2014. He worked at S&P Global Market Intelligence before joining Forbes Global Properties as a contributor. You can reach him at randolf.santos@gmail.com.

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