As stated in my previous article, Home Staging Protects Your Equity , home staging is a marketing tool used to obtain the highest possible price for your home (in that specific market) in the shortest possible time.
This is how and why it works:
- You sold your house for the most possible money in a short amount of time
- The higher sales price came from very strong or ideally, multiple offers within the first month of listing your home
- Strong offers came quickly because buyers saw the value in your house over your competition and knew they had to act FAST or else they’d lose out
- Lots of buyers viewed your home because it was presented and priced property
Point 4 is very important as presentation and price work together. A beautiful home that is overpriced is only that – overpriced. You always have to price your home according to the market.
The best strategy is to stage your home, price it at the LOWER range of fair market value, so that you attract many many buyers to your home within the first week. I’m not talking firestorm clearance price, just slightly lower than your competition and within fair market range. Your realtor can discuss this with you in more detail. This price will attract MANY buyers.
More buyers = more interest = more offers = higher sale price
Multiple buyers and competition raises the selling price, it’s the simple law of supply and demand. It is always better for a buyer to raise the price of your home than for you to set it too high in the beginning. I know it may seem backwards to you at first, as you want as much money as possible, but speak with your realtor and you will see. Competition will always bring you more many that if you price your home high.
The right price will bring all the buyers to your home quickly. Staging is what will make them fall in love with it; so much so that they will pay a higher price not to loose it to someone else. Together, you will get the results you want, and quickly!