Professional home staging in the luxury market greatly impacts buyer decisions. Home staging is perhaps the most effective way to showcase a particularly desirable property, no matter the existing market conditions. Statistics confirm that professionally staged properties sell more quickly and for higher prices than unstaged properties.
Effective staging highlights the house’s architectural strong points, minimizes awkward spaces, and capitalizes on the ability to create a vision of a luxury lifestyle in the minds of potential buyers. The stager should know proper furniture placement, how to mix color palettes, and adding aesthetically pleasing home decors to create this vision. Something to keep in mind (and remind your clients) is that designing to live is very different from staging to sell because you’re trying to appeal to as many buyers as possible.
Working with a Professional Stager
When inquiring about professional staging to enhance their property’s values, most home sellers will lean on their real estate professionals. Therefore, it’s imperative for real estate professionals to understand the basics of home staging and what to expect when hiring a professional home stager on behalf of your client. It’s also a great skill to have in your back pocket if you have to work with clients who don’t necessarily want to hire a professional home staging service (and you need to convince them otherwise).
In a recent episode of our Estate of Mind podcast, Lori Pedersen, owner of Lori Pedersen Home Staging + Styling, explained why professional staging is crucial in luxury real estate and provided four valuable tips:
- Blending neutral palettes with accessories in bold colors: Contrasting colors are aesthetically pleasing and could create a memorable first impression for potential buyers. Don’t be afraid to mix and match the colors of the walls with the furniture for maximum vibrancy.
- Showcasing the property’s potential: Ask the professional stager for creative ideas to illustrate alternative uses for each room in the house, such as a yoga workout room, a meditation space in the little-used storage area, or transforming the garage into a home gym.
- Identify areas to declutter: Depersonalizing is perhaps the most challenging task for a professional stager. While it can be essential to protect the identities of current owners, removing all traces of “personality” from home can make it feel sterile and uninviting. The best professional home stagers strike a balance between family memorabilia, a lived-in space, and model homes!
- Add or remove furniture: A part of the decluttering process is determining whether your client should remove or add certain pieces of furniture to balance out “negative space” and create an impressive vision for the buyers.
The Statistics Don’t Lie
The 2021 report from the National Association of REALTORS® pointed to the increasing number of buyers who plan to remodel immediately after purchasing a home. Interestingly, 93% of buyers report that “it’s easier to visualize their future home” if it is staged.
In addition, 44% of sellers’ agents believe that staging increased the home’s value on the market by up to 20%, even in a hot market. On average, most staged homes remain on the market for about half as long as unstaged homes, which is good news for your clients as it’s commonly known that the selling price drops the longer a home remains on the market.
Luxury real estate professionals have arrows in their quiver of marketing tools. One of them should be a roster of professional home stagers with knowledge and expertise to help you showcase your properties. Home staging has become a highly specialized field with proven advantages.
Want to learn more about luxury real estate and gain valuable insights from industry experts? Tune into our Estate of Mind Podcast Series about motivating, inspiring, and educating you in the art of selling luxury real estate. Ready to take the next step in your luxury real estate career? Reach out to our team for more information on taking your career to the next level.