It’s hard to believe that half of 2022 is almost behind us! Did you know that in 2021 alone, many homeowners earned more from home appreciation than from their jobs?! With that said, where are we at now in this current market?! The experts agree that 2022 may have new challenges in store and therefore this year’s home sellers would be wise to prep a bit before their home sale!
2022 is presenting things such as declines in competition, declines in prospective buyers, and fewer bidding wars. These factors translate into an increased need for sellers to put their best foot forward in order to be successful…something that was not as crucial in 2021. There are also supply chain issues that have found their way into the real estate world. Repairs and remodels can be costly for many home buyers who are already dealing with higher interest rates. So selling a home “as is” can definitely turn many buyers away. Buuut there’s still a silver lining for sellers: well-presented and staged homes are continuing to receive multiple offers and seeing final sales prices above the asking price.
This month’s newsletter and blog are dedicated to you sellers and contain tips that our own clients have recently employed to ensure that you get top dollar for your home despite the slight decline in the new reality. The key is to attract the right buyers! Naturally, you may be wondering what kind of preparation will be required?
To help you visualize, consider this analogy:
By putting your home on the market, your home is basically going on a job interview! Whom you’re hiring to sell it is the stylist. Do you want your home to show up looking like it shopped at Nordstrom or do you want your home to show up in sweats?? This is where staging your home in preparation for the sale comes in. It’s important to do everything you can to stand out. Professionally staged homes are eye-catching and can encourage more buyers to consider your property, even before they see it in person.
Another reason to consider staging is it will make your home feel aspirational. It’s important that the home shopper falls in love with the property they ultimately choose to buy. You can help create that emotional connection between a buyer and your home by staging it. Professional color combinations, smart layouts, and unexpected pieces help the buyer develop positive feelings about the space and imagine living in it, they feel at home, and this, in turn, creates an emotional attachment between the buyer and your home.
One of the most common objections is that staging is not free. This is true, however, when you crunch the numbers and consider the chance for a higher offer, the answer is simple: staging has the potential to help increase the value of your home. So you’re probably wondering what the return on this type of investment looks like. Great question! For example, in a study done by NAR in 2019, 39 percent of sellers reported an increase of 1-10 percent of the dollar value offered by buyers, compared to similar un-staged homes. Numbers like 5% may not feel like a lot until you realize that 5% of a $500,000 home is $25,000.
So not only will staging net you a higher profit on the sale of your home, but we make it even easier for you with our concierge service that allows you to pay for the staging interest-free upon closing. No need to come up with the money to stage your home when listing, 100% of the project cost is deferred until your home sells with no upfront deposits, progress payments, interest charges, or credit checks. We’d love to meet with you to discuss how our concierge service can cover not only the staging costs upfront but also repairs, touch-ups, refreshes and even full remodels to ensure your house looks its best and is ready for its job interview :)
So if you’ve been wondering if now is a good time to sell, the best answer is….reach out to our team! We’d love to answer your questions and show you how this year we’ve helped our clients successfully prep their homes, attract the right buyer, and as a result, reap the benefits of the current market!