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Resa Statistics Report Feb 09

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Real Estate Staging Association\'s Report on the fiscal impact of Home Staging

Real Estate Staging Association\'s Report on the fiscal impact of Home Staging

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  • 1. Real Estate Staging Statistics Report By RESA Released February 2009
  • 2. Vacant Homes Previously on the Market Un Staged Un-Staged Staged, Listed, SOLD Not Sold SOLD 2007 Study 131 DOM 42 DOM 68% Less time 01-07 to 12-07 on market 2008 Study 190 DOM 28 DOM 85% Less time 01-08 to 12-08 on market In 2007 vacant homes in our study that were previously on the market on average of 131 Days as un-staged properties had not sold. Those same f homes were then taken off the market and staged and re-listed. Those properties on average sold after 42 days on market after they were staged, which is 68% less time on the market. In 2008 vacant homes in our study that were previously on the market an average of 190 days as un-staged properties, had not sold. Those same homes were taken off the market and staged and re-listed. Those properties on average sold after 28 days on market after they were staged, which is 85% less time on the market. Staging is still working in a down market. 2008 was statistically a worse market than 2007 and staging proved to sell properties at a significantly higher rate than non-staged properties.
  • 3. Occupied Homes Previously on the Market Un-Staged Staged, Listed, SOLD Not Sold SOLD 2007 Study 106 DOM 44 DOM 58% Less time 01-07 to 12-07 on market 2008 St d Study 57 DOM 6 DOM 89% Less time 01-08 to 12-08 on market In 2007 occupied homes in our study that were p p y previously on the market y on average of 106 Days as un-staged properties had not sold. Those same homes were then taken off the market and staged and re-listed. Those properties on average sold after 44 days on market after they were staged, which is 46.6% less time on market. In 2008 occupied homes in our study that were previously on the market an average of 57 days as un-staged properties, had not sold. Those same homes were taken off the market and staged and re-listed. Those properties on average sold after 6 days on market after they were staged, which is 89% less time on market. Staging is still working in a down market. 2008 was statistically a worse market than 2007 and staging proved to sell properties at a significantly higher rate than non-staged properties.
  • 4. Staged First, Listed and SOLD St d Fi t Li t d d Occupied Homes Vacant Homes Not Previously on Not Previously on the the Market Market 2007 Study 39 DOM 44 DOM 01-07 to 12-07 2008 Study 24 DOM 33 DOM 01-08 to 12-08 In 2007 occupied homes in our study that were never on the market previously were staged, listed and sold on average in 39 days. In 2008 occupied homes in our study that were never on the market previously were staged, listed and sold on average in 24 days. In 2007 vacant homes in our study that were never on the market previously were staged, listed and sold on average in 44 days. staged days In 2008 vacant homes in our study that were never on the market previously were staged, listed and sold on average in 33 days. How do your un-staged listings compare? y g g p Staging Still Works, Even in the Down Market of 2007-2008
  • 5. With more people becoming internet savvy, according to the NAR Profile of Home buyers and Sellers 2008 “87% of ALL home buyers and 94% of buyers aged 25 to 44 used the internet to search for homes. Staging continues to be a valuable tool to gain more buyer interest beginning with their initial search on the internet. Homes today are being eliminated from the “must see” list based on photographs from the Internet Professional staging is key must see Internet. to the quality of those photos. Consistent with that thought, the Remodel and Realtor magazine 2008-2009 Cost vs. Value Survey reports on additions, upgrades and replacements in regions across the country that bring the most value per dollar spent. Curb appeal ranked highest in all regions. A recent RESA study found that 99.2% of professional stagers recommend repairs and upgrades to y p g p pg seller when preparing a home for sale, 89% of sellers were willing to address the repairs recommended, 73.5% report their clients invest between $500 to $2000 in repairs. Professional stagers are instrumental in bringing their first hand experience of their region and the improvements and upgrades that bring more value to the homeowners and Realtors they serve. Proper list price is the Number One factor in a sale to be evaluated with condition, location and terms that will result in a sale. The Number One factor that can push the SOLD price to the top of the Sold price range is indisputably staging. The two in concert are the path to maximizing equity in any market and a faster sale in ALL markets. Professional stagers do more than j st “arrange f rnit re and red ce cl tter” Professional just furniture reduce clutter”. stagers have targeted skill sets that include demographics, color, green consults, updating consults, curb appeal AND the support of specialized teams to meet every homeowner selling situation. Buyers benefit by purchasing homes that have issues resolved and that are move in ready. A Maritz survey says that 63% of buyers will pay more for move-in ready homes homes. Staging is no longer a “nice to have”, it is mandatory to maximize equity and makes good business sense for Realtors, homeowners and prospective buyers.
  • 6. •Consumer’s Guide to Real Estate Staging •Free Marketing Handouts for Realtors Available at www.RealEstateStagingAssociation.com www RealEstateStagingAssociation com Front Cover Credit: Kathy Nielsen y Michelle Minch Georgia Interior Solutions Moving Mountains Design Home Staging Atlanta, Georgia Pasadena, California www.HomeStagingAtlanta.com www.MovingMountainsDesign.com (678) 522 8392 (626)441-8975 Realtor Research and Writing Credit: Terrylynn Fisher, Realtor, CRS, CSP www. Terrylynn-n-Team.com Terryshomes@astound.net If you need a professional stager in other parts of the US or Canada, please visit our web site www.RealEstateStagingAssociation.com and click on "Find a Stager" Studies 2007 and 2008 Properties Across North America Submitted By Professional Real Estate Stagers © 2009 Real Estate Staging Association (RESA)