Feb 2013 Oahu Home Trends: To Stage or Not
The big dilemma for Sellers of residential properties this last first quarter, 2013 is whether to stage their property or not.
With low inventory, properties eventually may sell on their own merit, unfurnished and vacant. However, the Seller may not want to wait for “an eventual sale,” rather, the Seller would like to anticipate a very quick sale–on the market and closing within an average of 45 days or less.
For Sellers who would like to encourage offers quickly, and more than a few offers–Staging their property for sale is a win/win situation and has great advantages, even when it is a “Seller’s market,” when inventory is low and more Buyers are looking at a limited number of properties than in a “Buyer’s Market,” when inventory is high and there are many more properties to compare in the neighborhood.
The following are some of the benefits of Staging, as relayed by real estate agents on Oahu and the Neighbor Islands:
- Staged Properties encourage offers the first day or week that the property is on the market
- Multiple offers are received for the Staged Property because it shows extremely well and has a higher emotional appeal over the un-staged property
- With multiple offers, the sales price is often negotiated upward from the list price
- Staging allows potential Buyers to see the best features of the home, and also the highest potential for the home
- Staging gives the potential Buyers ideas on how to arrange furnishings in sometimes unusual floor plans
- A Staged property is usually in move-in condition because the Owner/Seller has taken time to ensure that everything is in good working order so that the home inspection process, while in escrow, will be a positive report
- Realtors representing staged properties relay how much easier the home is to show and sell
- Being priced right by having your realtor provide you with a CMA–comparative marketing analysis–is still key in today’s economic trends for real estate, regardless of whether the property is staged or un-staged