Guess what, the cost of professional home staging is typically much less than the first price reduction after a house has been on the market.
For me, it is one of the oddities of the psychology of selling a home. Sellers will think nothing of reducing their list price by $5,000-$10,000 but will resist a $4,000 professional staging proposal.
Let’s look at the facts.
- Using figures provided by CORT, the world’s largest provider of rental furniture, we can imagine a very conservative first price reduction of 5% on a $225,000 house which equals $11,250. This conservative assumption is supported by the National Association of Realtors which cites a 10% lower sales price associated with more than 24 weeks on the market.
- The average cost of home staging in the CORT example was $4,700 and likely involves renting their furniture.
- Using the CORT figure, the cost of home staging would be less by $6,550 or 58% than the first price reduction of $11,250.
Realtors can provide their own calculations based on local conditions to this formula. My guess is that the result will be the same – the price of professional home staging is much less than the first price reduction.
Plus, professional home staging helps sell the house more quickly. We have a track record of having staged more than 750 houses and stories about houses in all price ranges that sold within a week or two after we staged them.
And who can put a price tag on the value of selling your house quickly and moving on to the adventure of settling into your new home.