When it comes to staging a listing, sellers’ agents are divided over the benefits. NAR’s 2023 staging report found only 1 in 5 agents said it increased a home’s value.
WASHINGTON – Home staging helps buyers envision life inside a listing, but how much does it help the seller?
According to a report from the National Association of Realtors® (NAR), the 2023 Profile of Home Staging, about half of seller’s agents (48%) said staging decreased a home’s time on the market. For both buyers’ and sellers’ agents, one in five (20%) said home staging increased the offer price by 1% and 5% compared to similar listings that weren’t staged.
NAR’s 2023 Profile reveals the role home staging plays in the real estate transaction, including the perspectives of buyers’ and sellers’ agents, the impact of television shows and buyer expectations.
“As days on market has lengthened for home sellers, it is not a surprise to see the return of home staging as a tool to attract potential buyers,” says Jessica Lautz, NAR deputy chief economist and vice president of research. “Buyers want to easily envision themselves within a new home, and home staging is a way to showcase the property in its best light.”
In the survey, 81% of agents agreed that home staging made it easier for a buyer to visualize the property as a future home. Staging the living room was found to be most important for buyers (39%), followed by the primary bedroom (36%) and the kitchen (30%).
“When getting ready to list a home for sale, it’s vital to complete the necessary prep work to make a favorable and lasting first impression,” says NAR President Kenny Parcell. “Realtors® provide valuable guidance on how best to make your home an inviting space that connects with prospective buyers and stands out from the competition.”
About one in four (23%) of sellers’ agents said they staged all sellers’ homes prior to listing them for sale, while 10% only staged difficult-to-sell homes.
The survey also found a big impact from television.
“Reality” real estate shows affected buyers’ perspectives, according to a majority (73%) of Realtors, who said TV shows about homebuyers impact their business by setting unrealistic or increased expectations. More than half of the agents surveyed (55%) said many buyers now expect for-sale homes to look as if they were staged for TV.
In the last five years, half of the Realtors (51%) said more buyers plan on remodeling a home after they close, with a quarter of them planning to do so within the first three months.
Almost all Realtors surveyed (95%) said that their buyers brought family members with them while viewing homes.
Other survey highlights
- 58% of buyers’ agents said staging had an effect on most buyers’ view of the home most of the time; 31% said home staging has an effect, but not always.
- 81% of buyers’ agents said staging made it easier for a buyer to visualize the property as a future home.
- Staging a living room is most important (39%), followed by the primary bedroom (36%) and the kitchen (30%).
- The most common staged rooms were the living room (91%), kitchen (81%), primary bedroom (81%) and dining room (69%).
- Sellers’ agents often used a staging service (24%) but some said it depends on the situation (24%); 22% of sellers’ agents did their own staging.
© 2023 Florida Realtors®