Of all the factors to consider when selling a house, making a good first impression on the buyer by enhancing the home's visual appeal is a top priority.
Home staging -- making a property more welcoming by adding furniture, décor and other enhancements -- brings out the positive attributes of a house, provides a walking flow to highlight and enhance the beauty of the space, and allows the buyer to visualize the property as a future home -- not to mention making the house stand out from the competition.
The way a buyer perceives a home translates directly into the selling price. According to a 2015 survey conducted by the National Association of Realtors, 49 percent of sellers' agents believe staged homes have an effect on the buyer's view of the home, and "37 percent of agents believe staged homes (increase) the dollar value buyers are willing to offer by 1 percent to 5 percent."
When the aesthetics of a home leave a favorable impression, buyers are more likely to remember the home over other available properties -- which provides the seller with the benefit of not having to leave the house on the market long enough to have to lower the price.
"For most people, their home is their No. 1 investment in life. The investment in staging is far less than reducing the price of the home, which -- depending on the value of the house -- can range from $5,000 upwards of $20,000," says Lora Nordstrom, a realtor with Jack White Real Estate in Anchorage and owner of Flourish Home Staging.
Nordstrom says she has seen the power of home staging firsthand. In one scenario, a completely vacant home that sat on the market for 168 days took just 69 days to sell after being staged.
"No major improvements were done to the property while my sellers lived there," Nordstrom said. "So the house is the same as before, but now staged. You can see how the colors and decor add warmth and charm…also, it helps to show the purpose of each space. Sometimes just some color and sparkle is all you need."
Professional stagers say it's in the seller's best interest to understand how home staging will benefit them -- even if the home is occupied.
"An experienced stager can coach the seller on how to repurpose furniture, redesign spaces and declutter," explains Stacy Goade, owner and design consultant at Alaska Premier Home Staging. If the home is vacant, it is easier for the buyer to focus on cosmetic flaws or to overlook the home altogether.
On average, buyers spend only five minutes looking at an empty house, compared to 40 minutes on a furnished home. We buy with our eyes, Goade says; therefore, it is her priority to create value in the eyes of the buyer by strategically furnishing a house to give it personality.
"Staging gives you hope that a successful sale can be done," Goade said.
With the rising popularity of TV home shows, and listings being shared via social media photos and online virtual tours, home staging continues to gain popularity in Alaska. Some realtors will offer staging as part of a comprehensive plan to market a house, either by staging it themselves or by working with stagers like Luke Sherman, owner of Stage to Sell Anchorage, who for nine years has worked directly with realtors staging their listings.
"Realtors have told me about houses that have been for sale for six months to a year that, once staged, sell within a few weeks," Sherman said. "They attribute a fast sell to the staging. It is not unusual for the homes I stage to sell in four to six weeks."
Professional stagers have experience targeting different markets and will stage and charge accordingly. Variables such as the size of the house, whether the property is vacant, and the number of staged areas come into play when determining cost, but on average a seller can expect to pay anywhere from $195 for a two-hour consultation to $2,500 to stage a whole house, or 1 to 3 percent of the asking price. Some local stagers and realtors, like Goade, offer home staging seminars in the Anchorage area.
Goade's advice? "As soon as you decide to sell, call the stager, do the consultation and get a to-do list. It will reduce stress and anxiety."
This story appeared in the March 2015 issue of 61º North Magazine. Contact 61º editor Jamie Gonzales at jgonzales@alaskadispatch.com.