Beyond aesthetics, staging can be a strategic move to reduce time on the market and maximize price. … More Given today’s price sensitivity, sellers who invest in presentation may have a leg up on those who don’t.
Staged To Sell Home
In the fast-paced world of real estate, **first impressions are everything**. In an era dominated by instant gratification, potential buyers scroll through property listings with the same zeal they reserve for their Instagram feeds. If your home doesn’t **immediately captivate** their attention, it risks being overlooked. This is precisely where the art and science of **real estate staging** come into play, transforming a property from merely presentable to **utterly irresistible**.
Recently, Jason Saft, founder of Staged to Sell Home, joined the UrbanDigs podcast "Talking Manhattan LIVE!" to delve into the transformative potential of strategic staging. It’s crucial to recognize that while staging can elevate aesthetics, its true value lies in **overcoming common obstacles in real estate transactions**. We’ll explore some of Saft’s insights, as well as when staging is worth the investment and when it might not be.
Bridging The Imagination Gap
Many homeowners mistakenly believe that a freshly painted, empty room effectively showcases brightness and size. However, **empty spaces** often appear smaller and leave buyers grappling with how to envision their own lives within those walls. This challenge intensifies when faced with awkward room layouts. **Furniture and decor serve as essential references**, providing buyers with a tangible sense of how they could utilize the space to enhance their daily lives. A well-staged home becomes a blueprint, guiding buyers on how to thrive within its confines.
**Case in Point:** Four large penthouses languished on the market for two years in a luxurious Brooklyn condo development. The expansive, open layouts were too ambiguous for potential buyers, who struggled to visualize their use. After staging, which highlighted the true dimensions of the space, all four penthouses went under contract almost immediately. **Staging revealed possibilities, enabling buyers to visualize their future in the home.**
Staging Reduces Days On Market (And Carrying Costs)
It’s no secret that ***homes lingering on the market can quickly become stale***. Long durations in the marketplace may attract stigma, often leading to inevitable price cuts. Additionally, the **costs of prolonged listings**—mortgage payments, taxes, and maintenance—can pile up fast. The quicker a home sells, the less the owner incurs in ongoing expenses. While **price** is undeniably a key factor, **staging can significantly expedite the sales process**, especially for homes with visible flaws or necessary renovations. By focusing on a home’s strengths while subtly minimizing its weaknesses, staging transforms buyers' perspectives, leading them to say “yes” faster.
According to Saft, one Manhattan property remained unsold for **14 long months**, accumulating **$140,000 in carrying costs**. However, after staging, it was sold in just **35 days**. The moral of the story? Staging emphasizes a property’s positive attributes, accelerating buyer decisions.
A combination of pricing right and staging can help avoid cuts by making an immediate impact.
UrbanDigs
Staging Can Help Fetch A Higher Price
Research reveals that buyers are willing to pay a **premium** for move-in ready homes. In fact, recent data indicates that buyers are currently paying nearly **20% more to bypass renovation headaches**. Interestingly, when comparing similarly conditioned units, staged homes tend to outperform their unstaged counterparts—even when the latter is only marginally worse off. While staging is not a substitute for renovations, the aesthetic enhancements it provides can far outweigh the costs by shifting buyers’ focus from renovation expenses to the livability of the property.
**Case in Point:** In Brooklyn, two identical units were sold two months apart—one staged and one left vacant. The staged unit commanded a result of over **$200,000 more**. This stark contrast underscores how effective staging can redefine buyer perceptions and influence pricing.
Renovated homes in Manhattan currently sell for 19% more than unrenovated ones. Staging, while not … More a full renovation, taps into the same psychology by presenting a move-in-ready look that justifies a higher price.
UrbanDigs
The ‘Instagram Effect’
Today’s buyers expect homes to emulate the polished aesthetics of reality shows and social media feeds. Platforms like Zillow and the influence of social media have made **poorly presented listings obsolete**. As Saft notes, “We’ve evolved into a society that demands instant gratification. Buyers have expectations—**they want a home that’s ready to impress**.” Once those expectations are set, any misalignment between reality and representation risks alienating potential buyers. Proper staging can help bridge this gap, flipping the leverage back to the seller’s side.
Manhattan studio buyers are picky right now. With inventory sitting longer, sellers need to nail the … More first impression. Staged homes stand out and grab attention, driving clicks and increased foot traffic.
UrbanDigs
Staging Isn’t Cheap (But Neither Are Price Cuts)
It’s important to acknowledge that professional staging can be expensive. In Manhattan, larger properties may experience costs that run into six figures. However, the upfront investment can lead to significant long-term benefits, especially in comparison to the cost of price reductions after lengthy market exposure. A **5% price cut on a $2 million listing**, which is the average sale price in Manhattan, translates to a staggering **$100,000**. If staging for **$50,000** can prevent that loss, sellers end up ahead.
To Stage Or Not to Stage?
For some sellers, **virtual staging**—the digital enhancement of images—may seem like an affordable alternative, yet it carries its own risks. Saft cautions, “Virtual staging can be deceiving; it shapes inflated expectations.” Transparency is key. If opting for virtual staging, present both real and digitally staged images to ensure buyers aren’t caught off-guard when viewing the property in person.
When considering staging, ask yourself the following:
YES:
The home is vacant or poorly furnished.
Comps in the area show that staged units are selling faster.
Your price point demands a **high-end presentation**.
NO:
Your market is red-hot, and homes are selling irrespective of condition.
Costs may outweigh the potential return.
The home already looks **ready for a reality show**.
Final Thoughts: Staging As A Market Strategy
The Manhattan real estate market is getting back on its feet after a period of stagnation, yet buyers remain discerning. Beyond mere aesthetics, **staging is more than a cosmetic enhancement—it’s a strategic approach** that reduces time on the market while maximizing final sale prices. In today's price-sensitive climate, sellers willing to invest in staging often find themselves with a competitive advantage. So, when it comes to selling your home, remember to **stage it to engage**.
