Vacant or empty homes are some of the toughest properties to sell. A national survey done by the Real Estate Staging Association (RESA) found that vacant homes which were staged spent 80% less time on the market. Part of the reason is that when staged, homes showcase a lifestyle that buyers connect with emotionally. Additionally, by staging an empty home and highlighting all the key functional areas, this translates into immediate value for your potential buyers who will be able to see how to use each room in the home. If buyers have to guess a room’s function or how much furniture will fit then odds are high they will move on to the next home which does model a lifestyle they want to have.
Below are the top reasons why Kitchener-Waterloo vacant homes are so hard to sell:
1) Buyers are inherently visual and according to the latest report from NAR, over 81% of buyers find it easier to visualize a property as their future home when it’s staged. Additionally, we also know that 9 out of 10 people cannot see past what they are presented with so if a home is empty then 90% of the people who view it won’t see its value or appeal. If they can’t see it, they won’t buy it.
2) Rooms always appear smaller than what they actually are without furnishings in them. This is why adding the right size furniture always makes them look more spacious and – you guessed it – more appealing!
3) Buyers can’t imagine how their furniture will fit in a room without any frame of reference. Furniture not only adds appeal, it adds tangible value in showing buyers exactly how the space should be set up.
4) In a vacant property, dated or extreme decor dominates what a buyer sees – and remembers – which results in the overwhelming impression that “the house needs too much work.” Too much work translates into low – or no – offers. NAR reports that staging can add up to 20% to a home’s value and this is significant for a home at ANY price point!
5) Without furnishings, buyers are often confused as to the function or purpose of a room. Rooms without purpose detract from the overall value of a home, making the property less desirable.
6) Without furniture or accessories, an empty home lacks the lifestyle component which creates aspirational and emotional cues with prospective buyers. Buyers may shop with lists but it’s their emotional response to a property that ultimately decides which property they put an offer on.
7) If a house empty, buyers can form the opinion that the home owners are desperate to sell and then figure that the seller will accept any offer just to get the property sold. If you want to attract property flippers, investors or buyers looking ‘for a deal’ this is a great way to do it.
8) Empty rooms hold no value for buyers. This translates into homes languishing on the market while sellers pay for 2 homes, low (or no offers) and an overall unsuccessful real estate experience. Investing in home staging is key to marketing a home properly and getting it the attention and offer(s) it deserves.
9) Without furnishings, all flaws or defects in a room are magnified for buyers. So instead of focusing on the potential of a space, buyers will simply see how much work and money is required to fix it.
10) The sheer emptiness of the home can be overwhelming to buyers. To them it will seem as if there are too many windows and too much expansive wall space. This is true especially in large, luxury homes. Too many walls, too much floor space … everything is just overwhelming. Staging these large homes and defining each area adds warmth, coziness and instant appeal to a luxury home while at the same time, still showcasing the spaciousness of each room.
Unfortunately, vacant homes will statistically sit on the market for 7 months longer than staged properties before either selling at a much lower price or being taken off the market, staged, and then re-listed. By comparison, empty homes which have been staged have been shown to sell in a mere 33 days according to current statistics. That is a staggering 85% difference!
Rooms in Bloom Home Staging & Design is a multi-award winning home staging company based in Kitchener-Waterloo. Our team of staging experts have the experience, talent and resources to make any home unforgettable. Contact our office today at (519) 804-STAGE (7824) and visit us online at www.homestagingdesign.ca to learn more about our services!
- Rooms in Bloom Home Staging Selected as the 2012 Canadian Home Staging Company of the Year (decoratingdivas.wordpress.com)
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