Is Staging Worth it in Winnipeg, Manitoba? A Realtor’s Perspective.
Let me save you the hassle of scrolling through this entire blog post – my response is a resounding YES!
In the current real estate landscape of Winnipeg, we're still riding the wave of a robust seller's market – homes are flying off the shelves, often fetching close to or even exceeding their list price, and bidding wars have become the norm. So, will your house likely fetch a handsome sum regardless? Most likely, yes.
However, here's the crucial question: could you potentially be leaving money on the table by skipping the staging process? My answer to that is also most likely, yes.
According to the 2023 Profile of Home Staging report by the National Association of Realtors (NAR), a staggering 81 percent of buyers' agents affirmed that staging significantly aids buyers in envisioning the property as their future home. Additionally, 20 percent of buyers' agents noted a price increase of 1-5 percent for staged homes compared to similar unstaged ones.
It's imperative to grasp the value staging adds to the selling journey. Staging is, essentially, marketing. By investing in professional home staging services, sellers can amplify the market appeal of their properties, attract a broader pool of buyers, and ultimately clinch a quicker and more lucrative sale. Moreover, it helps preemptively address potential objections buyers might raise.
Reasons to Stage:
Enhanced Visual Appeal. Staging transforms an empty or lived-in space into a welcoming, attractive home. Professional stagers know how to highlight the strengths of your property and downplay its weaknesses, making it more appealing through strategic furniture placement, décor and color schemes. This visual appeal is crucial in creating strong first impressions during viewings and in your pictures and video.
Faster Sale Times. Staged homes sell faster than non-staged homes. By presenting a move-in ready option, staging helps potential buyers visualize themselves in the home. This reduces the mental leaps that they would have to make and accelerates the decision-making process. This is particularly valuable in a competitive market like Winnipeg, where the difference of a few days can have a substantial impact on the final sale price.
Higher Offers. Staged homes tend to fetch higher offers. When a home is aesthetically pleasing and appears well-cared-for, buyers are often willing to pay a premium. This perception of increased value can lead to better returns on your investment. By staging, you not only enhance the home’s physical appearance but also its perceived value in the eyes of buyers.
Emotional Connection. A well-staged home creates an emotional response that can lead to a sale. By carefully curating spaces that evoke a sense of comfort and ease, stagers make it easier for buyers to imagine celebrating life’s milestones in this new setting. Emotional connections are powerful and can significantly influence buying decisions.
Competitive Edge. If you want your listing to stand out, you need to stage. It will give you the competitive edge. Homes that are staged tend to look more appealing in marketing pictures and videos, which is essential to draw interest. In the digital age, the visual impact of your online listing is more crucial than ever.
Now, who should ultimately bear the cost of staging?
One common concern we encounter is the expense associated with staging, and indeed, it can add up. However, on our team, we often shoulder the burden of staging costs. Nevertheless, there's no one-size-fits-all answer to this question.
We always cover the expense of the staging consultation, which involves a comprehensive room-by-room discussion and plan, not just a walkthrough with the Realtor, but also with our stager. We strive to work with your existing furniture whenever feasible, as long as it effectively showcases the space. In cases where additional items are needed – what we term an accessory stage – there's usually no extra charge if they're sourced from our staging inventory, which includes a plethora of items ranging from couches, chairs, bar stools, beds, and dining tables to artwork and rugs. We quite literally, have it all.
Of course, there are instances where more extensive staging is warranted. For example, in the case of a vacant home where our existing inventory wouldn't quite fill-out the space, and professional movers are required to transport items, additional fees may come into play. However, such scenarios are relatively rare, and we always engage in thorough consultations with our clients to devise a tailored plan. In some cases, alternative solutions like virtual staging or targeted staging for specific problematic areas of the home may also be explored (also services that we cover). Regardless of any fees involved, we ensure that the investment in staging yields significant returns.
We afford our clients the flexibility to either cover the staging costs upfront or roll them into the commissions. While some Realtors staunchly advocate for sellers to foot the staging bill upfront, given that they stand to reap the greatest financial rewards, I also recognize the substantial benefits of presenting a properly staged home. We take immense pride in the meticulous attention we devote to presenting our listings in the best possible light.
But yes, staging is 100% worth the expense. I have yet to encounter a situation in which the staging did not pay for itself in the sale proceeds.
Jennifer Queen
Phone: (204) 797-7945
Email: Jennifer@QueenTeam.ca