Five Good Reasons to Stage Instead of Slashing Your Price
When you’re keen to sell (and who isn’t?), it can seem tempting to reduce your asking price in a panic to encourage viewings.
We understand why a price drop might seem the only solution – especially as almost 7% of homes have seen the asking price reduced by at least 5% recently. Fall through rates are increasing too as buyers struggle to secure finance.
Before you reduce your price, losing out on thousands of pounds in the process, why not consider a much smaller investment in professional Home Staging? We’ll help you to sell at an asking price you’re comfortable with.
Here are our top five good reasons to stage before you slash your price
1. Staged Property Sells Faster
In the UK, the average time an unstaged property takes to sell is 19 weeks. Between 1 October 2022 and 16 February 2023 on average it took 23.6 days to receive the first offer on all staged properties priced over £100,000.
The number of days to secure a buyer is rising for all properties though, which creates an even stronger case for getting a home staged professionally.
2. Staged Property Sells for More Money
As well as selling faster, staged properties also tend to sell for more money. Typically, home staging adds between 8% and 25% to property retail value with a typical increase of around 10%.
Staging a property, with a value of £296,000 (the average price in the UK), could add £29,600 to the asking price. Allowing for staging costs of around 1% of the property value, this means realising an additional £26,000.
Worth considering? We think so.
3. Staged Home Photography Increases Online Viewing Time
Staged rooms simply photograph far better than unstaged. The professional interior photographers we work with know exactly how to shoot property for maximum wow power.
Studies suggest that poor-quality photos attract an average of 2 seconds per viewer on online portals and websites, compared with 20 seconds per viewer for properties with high-quality photos.
99% of physical viewings are now generated from online interest. If buyers are scrolling past your property no wonder no viewings are not happening.
Showstopping photography will stop them in their tracks and encourage them through the door.
4. Buyers spend longer viewing staged properties
Staging allows buyers to imagine themselves and their belongings in the property, which inspires them to put in an offer.
One measure of how well a property is viewed is the amount of time viewers spend in the property. When asked by Estate Agent Today, 75% of agents said that viewers spend significantly more time looking at a staged property.
The longer a potential buyer lingers, the greater the chance of an offer as well as potentially enhancing the size of the offer.
5. Staging helps landlords too
Staging homes doesn’t just benefit vendors. It can also be a landlord or property agent’s secret weapon for lettings.
86% of staged properties are rented out within a week, and for a higher rental value than those which have not been staged.
We could go on, but we hope our top 5 reasons will convince you to consider Home Staging before you slash your asking price.
Over 1.2 million properties are sold annually in the UK – make sure yours is one of them.
Get In Touch
The Home Styling Company are always delighted to collaborate with home owners, developers and agents. For advice and assistance around staging, give us a call or drop us an email.
We’ll help you make sure your home achieves the best price in the shortest possible time.
Denise and Stephen Cable
The Home Styling Company
Multi Award Winning Home Staging Professionals
Tel: 07870 751108
* These statistics come from www.housegrail.com who use third-party sources.