Today we’re going to bust some common home staging myths! Whether you’re a homeowner looking to sell or just curious about the world of real estate, we’re here to set the record straight and reveal the truths behind these misconceptions.
8 Home Staging Myths: Busted
1.Home staging is only for high-endproperties
High-end properties often come with the expectation they will be styled, but this doesn’t mean staging is exclusive to them! In fact, we frequently witness the most substantial return on investment (ROI) in smaller properties.
Take for example, a one-bedroom unit where you might spend approximately $2500 on styling. The investment can make the space look more spacious, inviting, and contemporary, attracting more potential buyers. In some cases, one-bedroom units we’ve staged in Brisbane have sold after just one weekend on the market, with a ROI ranging between 10-15% of the styling cost.
Conversely, larger properties often have higher furniture hire costs, which can eat into the ROI. So, the size of the property doesn’t necessarily correlate with the effectiveness of home staging.
As Phoebe says in this video ‘townhouses are our bread and butter!’
2. Home staging is about making a property look pretty
This couldn’t be a bigger myth when it comes to home staging. We’re not in the business of making a house look pretty. And we’re not interior decorators tasked with bringing your personal vision to life. Instead, our goal is to transform your property into a marketable product.
The essence of home staging lies in making your home a marketable product (admittedly, part of the marketability is for the home to look nice and feel comfortable, but there’s a lot more to it than simply adding some cushions!). We achieve a marketable product by appealing to a wide range of potential buyers, evoking their emotions and desires. In property styling, we focus on accentuating the property’s strengths and diverting attention away from any weaknesses.
3. I can stage my home myself
This one does hold some truth, especially if you have an innate sense of design or experience in the industry. However, it’s important to consider the cost and time aspects; you might not have the resources to invest fully into the process (or to meet the standard that a professional can!).
Think of it like other home improvement tasks, such as painting or landscaping. While you can certainly tackle them on your own, the question is whether you have the time and expertise to achieve the best results. Ultimately, it’s about balancing the energy, cost, and benefits of DIY staging versus hiring a professional. While you can DIY, enlisting an expert often leads to more effective outcomes, for less effort on your part!
4.It’s only for vacant homes
This myth actually doesn’t have a universal answer, because it depends on which styling company you use. At Foxy, this myth is busted, as we specialise in vacant and integrated homes. Integrated being where residents still live in the property. Our approach with integrated homes involves using as much of the client’s existing furniture as possible. Then only bringing in what’s needed to create a marketable product that meets the agent’s and market’s expectations.
But, it’s important to note that we do not work with tenanted properties, as there’s no financial incentive for staging in such cases. So, while staging isn’t limited to vacant homes, it does have its specific applications based on the property’s status and potential marketability.
5.It’s too expensive/not worth the cost
The idea that home staging is too expensive or not worth the cost can be a common concern. However, the real challenge lies in showcasing the potential value it brings and the remarkable return on investment staging can yield.
Consider this: by investing just $2500 (approximately) in staging a property, you can align it with top-tier marketing and standard agent commissions, potentially resulting in an extra $30,000 to $50,000 in your pocket. Looking at the numbers and the substantial increase in potential returns, the question becomes, why wouldn’t you make that investment? Home staging is not just an expense; it’s a strategic move to maximise the value of your property sale!
6.Home staging isn’t necessary in a hot market
This is a common belief, driven by the idea that properties sell quickly regardless of their presentation. And while it’s true that a property may indeed sell without staging in a hot market, the question remains: why not aim for the best possible result and maximise your return on investment?
Even in a seller’s market, there’s incredible value in staging. Because it’s not just about selling; it’s about achieving the best result possible. By allocating additional funds for styling, you open the door to higher returns. So, no matter the market conditions, there’s always a benefit to staging, because it can enhance your outcome beyond what a quick sale alone might offer.
7.Buyers want to see empty rooms
Studies show that approximately 90% of people struggle to imagine furniture in an empty space. This in turn hinders their ability to establish an emotional connection with a property.
Empty spaces also give negotiating power to the buyer, leading to lower offers that reflect the lower effort put into marketing the home. An empty home will not create the desired impact and connection that a staged home can offer, which in turn will affect the property’s marketability.
Conversely, relying solely on virtual styling can be misleading and disappointing when a buyer walks into an empty property. The potential for a buyer to feel disappointed with a property when the online images don’t provide an accurate representation of the space is another reason that home staging is so beneficial to achieving the best possible return.
8. You can’t stage a home once it’s already been on the market
You might have heard this myth before. But, let me tell you, it’s not that black and white, and a lot depends on your agent.
We sometimes (not as often these days) see homes go to market with a soft launch. A soft launch is where a property hits the market without much online fanfare. From our perspective, you’re missing out on those all-important first impressions. But sometimes, agents are just testing the waters, trying to figure out a price bracket. And that’s when staging can swoop in and work its magic, potentially boosting the home’s value.
Now, on the flip side, we recently have been called on board for a property that initially got a fantastic offer on their vacant home but the owners didn’t bite. Then, when the second offer came along, it was lower than the first. That’s when the owners decided to go for a new marketing tactic. By changing agents and getting us to stage the property, they’re aiming to get back to that original offer and get more people through the door. So, the myth that staging is only for pre-market days? Well, let’s just say it’s got some wrinkles in it!
Watch the beside (or above if you’re on your phone) video to watch Jake and Phoebe talk more about these myths.
Thanks for joining us today to bust some home staging myths! Make sure to reach out on Instagram, Facebook or LinkedIn if you have any comments or questions.