Demand for home stagers is rising—and so are prices

  • Home sellers are spending more to stage their homes before selling.
  • Requests to hire home-staging companies increased 10% in the first quarter compared to last year.
  • Staged homes usually sell quicker and for more money than unstaged ones.
  • Staging can delay the sale timing, eat into a seller’s profits, and complicate the moving process.
  • Staging costs can vary depending on the size and location of the home, as well as the extent of the makeover.

Home sellers are investing more in staging their homes in order to attract buyers and potentially sell for a higher price. According to Thumbtack, an online platform connecting homeowners with service professionals, requests to hire home-staging companies have increased by 10% in the first quarter compared to last year. The average cost of staging a home has also risen by 18% to $1,816. While there is no definitive science on the return on investment for home staging, real estate agents generally agree that staged homes tend to sell quicker and for more money than unstaged ones. Staging helps buyers visualize themselves in the home and overlook any flaws or quirks. However, staging can also delay the sale timing, reduce a seller’s profits, and complicate the moving process. Despite these potential drawbacks, the current market conditions, including higher mortgage rates and home prices, make staging worth considering for sellers who want to stand out. There are various options and price ranges for staging a home, from simple decluttering and consultation to hiring a staging company for a complete redecoration. The median cost of staging when the sellers’ agent personally stages the home is $400, according to the National Association of Realtors. Staging contracts typically last for 60 days and include fees for staging, labor, delivery, and inventory rental. The total cost of staging depends on factors such as the home’s size, location, and the extent of the makeover. Some sellers have seen price increases of 25% to 30% in the past year, particularly when opting for high-end furniture. To reduce costs, virtual staging is an option that uses software to show potential decor without making physical changes. However, there is a risk that buyers may be disappointed when the actual decor doesn’t match the virtual representation. Another cost-saving option is to stage only the living room and primary bedroom, as buyers may struggle to visualize the potential of an unstaged room. Real estate agents believe that staging is particularly beneficial for vacant homes, homes with worn-out furniture, or homes with a specific look. According to the National Association of Realtors, staging a home can increase offers by 1% to 5% compared to similar unstaged homes on the market. It can also help sell a home faster, as reported by sellers’ agents. Real-life examples demonstrate the positive impact of staging. In one case, a vacant one-bedroom apartment that had been listed for three months with no offers sold quickly after staging. The apartment appeared smaller and older in person than in the virtually staged pictures, but the physical staging made it look bigger and more appealing. The sellers paid around $10,000 for staging and sold the apartment for $1.05 million, exceeding the asking price. While living in a staged home can be challenging, staging can provide a head start on decluttering and moving, especially if the sellers plan to donate some items. It can also make the actual moving day easier. For example, a couple who staged their home in Silver Spring, Md., found that the staging process helped them start the moving process sooner and decide which items to give away instead of storing. Their home sold for $1.5 million, 11% above the asking price.·

Factuality Level: 3
Factuality Justification: The article provides information about the increasing trend of home sellers spending more on staging their homes, the costs involved, potential benefits, and examples of successful staging. However, the article lacks data or studies to support the claims made by real estate agents about the effectiveness of staging in selling homes faster and for more money. It also presents staging as a necessary expense without discussing potential drawbacks or alternative viewpoints.·
Noise Level: 3
Noise Justification: The article provides detailed information on the increasing trend of home sellers spending more on staging their homes. It includes insights from real-estate agents, statistics on costs, and examples of successful staging. However, the article lacks a critical analysis of the potential drawbacks of home staging and does not explore alternative perspectives on the topic.·
Private Companies: Thumbtack,National Association of Realtors,Real Estate Staging Association
Key People: Dan Ennis (Owner of a home-staging company in New York City), Shell Brodnax (Chief executive of the Real Estate Staging Association), Bliss Ong (Real-estate agent in Seattle), Nick Dietz (Owner of a home styling and interior-design company in Sagaponack, N.Y.), Ben Dixon (Real-estate agent in New York City), Teresa Stonestreet (Homeowner in Silver Spring, Md.), Benjamin Stonestreet (Homeowner in Silver Spring, Md.)

Financial Relevance: Yes
Financial Markets Impacted: Mortgage rates, housing market
Financial Rating Justification: The article discusses the increasing trend of home sellers spending more on staging their properties to attract buyers in a challenging housing market with higher mortgage rates. This can impact the cost and timing of selling homes, as well as the prices that homes are sold for.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: ·

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