Ask Seller's Advantage: Why Furnish A Vacant Home?
In a competitive real estate market, it's essential a listing have every possible advantage working for it. Vacant properties benefit from furnishing/staging for a number of reasons:
Provide internet presence: Just a few short years ago, the National Association of Realtors estimated that 30% of home buyers began their property searches on the internet. Today, that number has soared to more than 90%. It's important that a property photograph well so that potential buyers don't immediately dismiss it. Think of it this way: an empty room = an empty impression. This is why developers furnish model homes!
Consider insurance issues: It is very likely that your homeowner's insurance may cover a vacant property for only a short time such as 30 days, if at all. It can be expensive to obtain insurance coverage on a vacant home and you may have to work with a high-risk insurance company. We strongly urge you to check with your professional insurance agent to determine your risk factor.
Give buyers a vision: Some sellers think that buyers can easily "envision" their belongings in an empty room. Not true! In surveys/studies conducted by the HSR (Home Staging Resource), it was estimated that 90% of buyers do not have the "eye" or spatial relationship ability to mentally furnish a room. And, according to Barbara Corcoran, The Today Show's real estate expert, many come away with the impression that some areas are smaller than they actually are. Strategically using key pieces of furniture, augmented by accessories, allows buyers to actually see a room's effective use of space.
Give buyers a warm welcoming feeling: One client summed it up best:"I want the house to have some feeling in it."
Make the investment: Yes, furnishing and staging a vacant property requires an investment, including furniture and accessory rental and a staging fee. However, this investment will allow the product you are selling - your vacant property or listing - to be effectively packaged to reach a much broader audience than a vacant property will attract. CLICK HERE for fee and cost details, including options for limited budgets.
