In Stagnant Housing Market, Home Staging Attracts Buyers, Mortgage Applicants

You’ve heard the real estate adage many times: location, location, location.

Given the current, slow housing market, however, this may take on a new meaning; one related to the interior of the residence in question.

Indeed, home staging is becoming more and more popular. This is the process of finding the optimal location of furniture and items in a seller’s home in order to attract potential buyers/home loan applicants.

Home staging experts say there are ways to succeed at this task, even in the face of reduced demand and sales.

“Edit, reduce clutter, and rearrange existing furniture,” says Dana Dickey, vice director of Interior Redesign Industry Specialists (IRIS), a leading organization for professional interior re-designers and home stagers.

Aside from being a simple way to help sellers fix up their properties, staging is cost-effective. Dickey says “homeowners I work with are amazed at how the look of their home can dramatically improve with just a little assistance.” Sometimes, a renovation here or there can make all the difference.

Meeting homeowner’s needs
IRIS trains members to tailor their staging services to meet the needs of individual homeowners based on the homeowner’s budget and desired level of assistance. Some homeowners have no problem with organization, for example, yet need assistance with the exterior of their home, to create more curb appeal.

Others seek professional assistance for re-organization of furniture and decorating. Whatever the task, the goal remains the same: find a buyer.

“We want to give each home that ‘wow’ factor,” Dickey says. “Especially in today’s housing market, in which home buyers largely make their final decision based on emotional factors, it’s important that a house make a good first impression.”

In addition to the increased speed at which a home sells, staging can also help homeowners boost their asking price. Many professionals focus their attention on two rooms in particular: the kitchen and the bathroom. Due to the high level of traffic through both rooms, each tends to collect clutter and becomes a source of hidden messes.

“It’s not that people don’t want to pick up,” says Dickey, “it becomes a situation where the homeowner just naturally looks past something without even noticing it.”