The old saying “You only get one chance to make a first impression” certainly applies to selling residential real estate. Consider the mindset of your prospect. Buying a home is one of the biggest financial and emotional events of a lifetime. It is a high-ticket business decision in an emotional setting that may take thirty years to pay off. Home buyers will scour the internet to pre-select their options based upon the neighborhood, number of bedrooms, architectural style, etc. Then, according to online real estate service Trulia, they will actually look at only 6 to 10 properties. Next comes the most important and intangible decision factor – the first impression. It takes 3 to 5 seconds to form any impression. So, after the 10 to 30-minute drive out to see the property, the prospect spends only seconds deciding whether to keep it on the short list or move onto the next home.
Most of the tools available to encourage a purchase can devalue the property. Prospective buyers actively use online information during the buying process. When a prospect sees a “price reduction” and increasing days on the market he or she may wonder… “Why isn’t this property selling? What’s wrong with it?”
Professional home staging is the least expensive and most effective tool ons are so imp to complete the sale. It is a powerful alternative that costs far less than the average price reduction. Compare the one-time fee to stage your home with continued mortgage payments you would have to make over a three to six month period – the estimated Days on the Market according to the Santa Fe Association of Realtors. The majority of the fee is paid at closing and it is tax deductible.
Staging can create a marked difference in the perceived value of a home. You love your home and it is your creation but keep in mind the prospect. People don’t walk into a home and wonder where to put the couch.
They want to readily envision an inviting and comfortable lifestyle in a place that looks and feels like their own. It needs to prepare the buyer to mentally move in.
Whether it is a first time or experienced home buyer, it is an “aspirational” purchase. There is an old saying in marketing that Revlon is not selling cosmetics – they are selling hope. The same kind of thinking applies in real estate – people are not buying a house – they are buying a lifestyle. And todays buyer is more sophisticated and educated than ever as proven by the increasing popularity of HGTV’s ‘Fixer Upper’ and ‘Property Brothers’ programming that focus on both the FLOW of the featured home and the ultimate FEEL of the home – the staged end result.
One last word on staging. Should you decide to stage your home, use the resources available to select a home staging company that will create a unique position for your home. Steer clear of furnishings that look the same from house to house to house. Make that first impression the best it can be.