REMEMBER staging is pure economics and visual merchandising. Improve upon a product and the price thus demand increases. It doesn't take a Rocket Scientist to understand that when you improve upon a product it attracts more buyers thus raises it's selling price.
Buyers Use Internet To Search
84% of buyers reported the photos to be the most useful information.
• The number one action taken after viewing a home online was to drive by or visit the home.
47% of all buyers were first time buyers.
62% of first time buyers reported that the primary reason for buying a home was the desire to be a homeowner, 35% of all buyers reported that as the number 1 reason.
The median age of all buyers are under the age 44.
36% of buyers found the home they purchased through an agent, 36% found the home they purchased online, less than 3% found the home they purchased in a print ad.
77% of buyers purchased their home with an agent.
85% of sellers sold their home with an agent.
39% of the mortgages were FHA loans.
87% of buyers viewed real estate as a good investment.
63% of all buyers had no children under the age of 18 residing at home.
Other Statistics
According to the National Association of Realtors (NAR), the average staging investment is between 1 and 3 percent of the home's asking price, which generates a return of 10 percent or more. TIME IS MONEY, AS THEY SAY!! TIMING IS CRUCIAL IN REAL ESTATE SALES- National Association of Realtors survey found that the longer a home stays on the market, the further below list price it drops. Homes that sold in the first 4 weeks averaged 1% more than the list price 4 to 12 weeks averaged 5% less 13 to 24 weeks averaged 6.4% less than list price and 24 weeks averaged more than 10% less than list price. USA Today Article - "When Coldwell Banker Residential Brokerage in Los Altos, Calif., looked at nearly 2,800 properties in eight U.S. cities, they found that the staged homes, on average, sold in half the time that the non-staged homes did. The sellers with staged homes ended up with 6.3% more than their asking price, on average, while sellers with non-staged homes sold for 1.6% more than the asking price" Majority of buyers find the home they will purchase online, therefore, professional staged photographs are essential~According to the 2006 National Association of Realtors Survey of Home Buyers and Sellers, 80% of all home buyers used the Internet as an information source to start their home buying process. Also, see chart below that shows that almost 30% actually found the home they purchased online in 2007 vs. an agent. These numbers are now much higher.
