Every home will sell if it is priced correctly. However, in most seller’s mind is an idea of value, and more so if the owners have made significant investments into the property during their residency. The ideal is to receive an offer that meets that expectation, but in a subdued economy where buying activity continues to decline, in all likelihood the property will sell for less than hoped for, or worse, could sit on the market for months.
There may be a way, however, to raise value, and that is through ‘staging’. It’s a popular practice in America, which the National Association of Realtors (NAR), describes as ‘the art of preparing a home to appeal to the greatest number of potential buyers in your market’.
Based on the NAR’s 2022 research, which it says will influence the 2024 market, properties that have been staged increase in value between 1-5%, when compared to similar ‘unstaged’ properties.
Global property agents agree that staging a home has value-add. 81% of the agents, surveyed in a 2024 study, said that it makes it easier for buyers to visualise the property as a future home; and 40% of buyers were more willing to visit a staged home they had viewed online.
In the South African context, staging is generally a consideration in the upper end of the property market, or for properties that need a shift if they been long listed.
Staging does not necessarily mean that furniture is replaced even if those pieces are hired. It can purely be just a repositioning of existing furniture and decor so that flow and attraction are enhanced.
- A ‘staged’ listing means your home can be decorated to match its architecture.
- Emotional connections to furniture that does not blend into the aesthetic of the house are removed.
- It can make the home more aspirational for potential buyers, so they can develop positive reactions and imagine living in the space.
- Staging is ultimately undertaken to appeal to the highest possible number of potential buyers, which increases competition and may sell the property faster.
- Staging can also increase the number of listing views online.
- Difficult floorpans are easier to understand if the staging is designed to showcase their value. This also applies to unusual features that need to be highlighted.
Virtual staging
There is also the aspect of virtual staging. This is realism at its best. It involves taking photo’s of the home and using photo-editing techniques, the home is digitally enhanced using virtual furniture and decor like artworks. Of course virtual staging only exists online, so viewers of a listing must be aware that if they decide to physically visit the property, it will not be as presented.
It has a massive role to play for those who may be considering buying a property online, or for agents who have been contracted by an international client to find a specific type of property.
Virtual staging has the ability to attract buyers who may not be able to easily visualise beyond the existing decor. It also assists developers to create a sense of how a build will look once it is completed, while for a vacant home gets an interior facelift.
Staging, virtual or physical, is not as expensive as you make think, and in the high-end market, many agents recommend engaging the services of a professional stager Some agents have even been known to subsidise the cost of staging with the seller, or even pay for it out of their commission should they sell. In cases like this, the agent will likely expect a sole mandate to be granted.
