While real estate in Toronto has strongly favoured sellers in recent years, trends are beginning to shift. Today, getting a great price on your home involves thoughtful preparation. This is especially true when it comes to staging – one of the most important steps in selling.
Staging your home for the market can help you be competitive, sell faster, and land a higher price.
When it comes to selling successfully, there are no shortcuts. If you’re looking to sell soon, here are a few reasons why you shouldn’t skip the staging process.
Want to learn more about the selling process? Check out The Magic of Listing.
The Market is Balancing Out
Over the past decade, Toronto’s housing market has seen its fair share of fluctuations. Despite the general inventory shortage across the province as a whole, things are cooling off in the GTA. Although homes have sold for record-high prices in recent years, sellers may need to curb their expectations in 2022.
While there are still plenty of active buyers, homes are spending more time on the market than they used to. As a result, homeowners who want to get the most out of their sale should be ready to put in the extra effort.
What Staging Looks Like
If you’re a first-time seller, you may be unfamiliar with what the staging process typically involves. First things first, staging does not mean large-scale renovations or home improvement projects. Rather, it generally consists of optimizing your existing space to help it shine in front of buyers.
Common staging techniques include:
- Cleaning and decluttering
- Removing or replacing old furniture
- Small tweaks to decor
- Re-painting
Preparing to sell your home? Check out these resources from our blog.
- Why Right Now is the Best Time to Sell Your Home
- Should You Wait to Sell Your Home After COVID-19?
- Are Pre-Listing Renovations a Good Idea?
First Impressions
When it comes to showcasing your home to potential buyers, first impressions matter. In 2022, most buyers will first discover your home digitally. And, with hundreds of other available properties just a click away, it’s more important than ever for your home to stand out. Not only can professional staging ensure your home looks great at open houses or showings, but it will also help it look amazing online too.
Audience Connection
While your home is currently tailored to your unique needs and interests, potential buyers will likely have different tastes. Staging helps ensure your home appeals to the most relevant buyer audience. During the process, a staging professional will incorporate both your home’s distinct strengths and industry-leading design trends to curate a welcoming and desirable space.
Great staging tells a story and allows buyers to envision themselves in your home. When buyers develop an emotional connection to your property, they’ll go above and beyond to buy it.
The ROI is Great
In Toronto, selling your home is no longer about setting a finite price. Today, homes enter the market and will typically sell within a certain price range. If you want your home to sell at the top end of that range, you’ll need to put in the work. The good news is that when it comes to staging, the work really pays off.
Staging has a ‘3X Factor’. This means that sellers typically see the funds they invest into staging tripled upon the sale of their home. For example, if you contribute $15,000 towards staging, you can expect an additional $45,000 added to the value of your home.
Want to learn more about Toronto’s housing market? Explore these resources from our blog.
- Has Toronto Real Estate Killed the ‘Asking Price’?
- Toronto Neighbourhoods Young Professionals Love
- Best Toronto Neighbourhoods For Downsizers
Faster Sales
On top of bringing in a higher price for your home, staging can also help you sell it faster. Ultimately, when your home looks great and connects well with buyers, they will be more eager to make an offer. While this makes sense on the surface, there’s also data to back it up.
A 2020 study performed by the Real Estate Staging Association (RESA) analyzed 13,000 for-sale homes and how long each property spent on the market. Results showed that the homes that had been staged spent 73% less time on the market in comparison to those that weren’t.
Professional Collaboration
While staging may seem straightforward and simple, it is not a DIY process. Like other aspects of selling your home, staging is most effective with professional help. During the listing process, your real estate agent will coordinate the staging of your home. Depending on your agent, they may have an in-house staging team or will connect you with an industry professional.
Ready to begin the home selling process? From staging to showings, we can help every step of the way. Get in touch.
