Home Staging's long-standing history and benefits
Home staging as a service started in America in 1972, invented by Barb Schwarz. The service isn’t new and didn’t appear once the digital age came through.
Many case studies prove the benefits of staging properties, and I've gathered some to show you. Here's a glimpse of the statistics based on the Home staging association report for the UK and Ireland are: · 45 DAYS is the average time it takes for a property to receive an offer after staging.
· 83% of Buyers find it easier to visualise the property as their future home after it has been staged.
· 67% of staged properties sell 1-2 times faster, and 33% sell three times faster.
· Staged properties sell between 1-15% above the asking price.
Even with all these metrics, it is still a new and growing industry in Ireland. Therefore, sellers still need to be convinced about investing in home staging. Meet the demands
Let's think about it! Don’t you agree that many people are fans of tv programs like “Selling Sunset”? I will let you in on a secret… all those properties are staged before they hit the market, and all look fabulous!
The cost of staging is added to the number of pre-sale expenses of the property, which is considered a necessity rather than an option. The reason and the goal are obvious: achieving and exceeding the asking price. Properties in Ireland are not on the cheap side, and buyers have become more demanding and picky when spending on their most significant future investment.
Buyers eat with their eyes How long does a property viewing last, 15 to 30 minutes? Potential buyers have only about 15 to 30 minutes to decide whether to put an offer down. Every impression counts, colour, smell, light, etc. Home staging impacts all of them, and yes, light too! Staged properties look brighter and more spacious.
We see more and more new homes coming onto the market, and the show house is usually staged, looking like it has popped out of a magazine. We have never seen these properties taken off the market because of a lack of interest and relaunched at a later stage. The show house has a huge purpose, to make all buyers feel at home and sell all other units fast. Second-hand homes can also get the same attention once they are staged right.
Property photography wasn’t a thing a decade ago. Few real estate agents will now allow amateur photography on their portfolios simply because they don’t attract enough interest.
The solution to stubborn sells
When a property is slow to sell, there is often an underlying objection that goes beyond the asking price. One common issue is that buyers struggle to envision how furniture can fit and function within an empty space. As a result, objections like "not enough room for wardrobes in the bedrooms" can quickly arise.
Similarly, when buyers view furnished or lived-in homes, they may focus on how the space is not functioning as they would like, such as feeling cramped due to oversized furniture, being put off by unpleasant smells, or being distracted by intense colours. Once a buyer has identified an objection, it can be difficult for estate agents to overcome and secure an offer.
Therefore all possible objections should be overcome before the property hits the market. That allows the sale to happen easier and quicker. This is where home staging comes into play. Your home stager will point out every area that needs attention and ensure potential buyers see more positives and overlook the negatives.
Cost vs Benefit
One of the biggest concerns sellers may have about home staging is the cost. However, the cost of home staging is relatively low compared to the potential benefits it can bring. In Ireland, the cost of home staging typically ranges from 0.5% to 1.5% of the property's asking price.
While this may seem like an additional expense, consider the potential return on investment, according to a report by the Home Staging Association, staged properties in the UK and Ireland sell, on average, 1-3 times faster than unstaged ones, and they can sell for up to 15% above the asking price.
Therefore, the cost of home staging is minimal compared to the benefits it can bring, including a faster sale and potentially higher sale price.
Let's return to the initial question. Is it worth the money to stage a home in Ireland? The answer is a resounding yes! It is a necessary expense if your property for sale is ex-rental, unfurnished, lived in, and cluttered. Putting your property on the market and taking it down due to lack of interest or first price reduction will cost you more than the cost of home staging services. Home staging in Ireland will be a must, not a maybe, a decade from now or even sooner.