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Benefits of Virtually Staged Real Estate

Benefits of Virtually Staged Real Estate

It is critical for both the buyer and the agent that a property spends as little time on the market as possible. One way in which you can achieve this goal is through effective staging - i.e., making the home as attractive as possible to potential buyers. 

For example, according to the Home Staging Association’s annual report: 

  • 69% of estate agents agree that staged homes sell 1-2x faster than non-staged homes.
  • 100% agreed that staging properties ahead of viewings adds value to offers, with 32% stating it can add as much as 11-15%.
  • 100% agreed that staged properties receive more viewings and interest online.

However, staging a property can be both time-consuming and expensive, whether the estate agent or the seller takes on these tasks. Furthermore, it can be difficult to stage properties in a way that aligns with the tastes and preferences of a variety of buyers. 

Fortunately, there is a clear solution to this problem - Virtual Staging.

What is Virtual Staging?

Virtual staging is the process of improving the visual appeal of a property (or a specific room) only through the use of technology rather than actually carrying out the work. For example, this could include digitally adding furniture or making minor adjustments to fixtures such as paint colors and wallpaper. 

When applied correctly, virtual staging tools can turn an otherwise boring or unattractive space into something that is sure to catch a viewer's eye. This, in turn, increases the chances of a speedy sale in an increasingly volatile housing market. 

What are the benefits of virtual staged real estate?

There are many benefits of virtually staged real estate, whether you are attempting to sell commercial or residential properties.

Improved aesthetics. 

Firstly, and perhaps most importantly, it's an easy and efficient way to make the property more visually appealing to viewers. For example, virtual staging tools can be used to remove specific items of furniture for properties that are still occupied, creating a cleaner, more polished space. This can make it easier for potential buyers to envision themselves living within the property.

Cost savings. 

Staging a property can also get rather expensive - whether you are simply repainting the walls or working with a staging company. This becomes even more challenging if you are working with a specific, non-negotiable budget in mind (which many sellers are). In fact, a recent study from Bank Rate found that sellers can expect to spend anywhere “between $782 and $2,817 in home staging costs,” with the figures rising considerably in the last few years alone.

After all, there’s a lot to pay for when carrying out this task. For example, buyers will have to hire a staging company that will source and install furniture within their home. While this is a great way to depersonalize the space, it does come at a price. 

Additional costs are incurred as the buyer will have to move out of the property during the sales period. In some cases, they may have to stay at a rental if their next home is not move-in ready. This effectively lowers the ROI from staging and could even lead to overspending in the long run.

However, virtual staging is much cheaper while serving the same purpose. It doesn’t require buyers to hire a traditional staging company in order to make their property as attractive as possible to viewers or buyers. As a result, it is an incredibly effective way to cut down on some of the costs of selling a home while still adding value to the property.

Time Savings.

On a similar note, staging a home before putting it on the market can get incredibly time-consuming - even when working alongside a staging company that will do the heavy lifting on your behalf. After all, bringing new furniture into your home and decking on a layout takes time.

Virtual stagings require a lot less commitment in terms of time. Different layouts and designs can be drawn up in minutes, meaning that sellers can also experiment more when staging their homes ahead of putting them up for sale. 

Style experimentation.

With traditional home staging, sellers must often stick to a neutral design in order to appeal to the widest demographic possible. While this can be beneficial, it sometimes means that properties are not shown in the best light to those with a less generic sense of style, or a specific vision in mind for their new home.

However, virtual staging means that sellers and estate agents can experiment with a wide range of styles, themes, and color palettes. There’s less finality involved when making these changes virtually, as any decision that you aren’t happy with can be undone quickly and without any labor involved (for example, you do not have to move furniture back and forth).

This form of experimentation increases the properties' appeal quite considerably and often means that they will be able to secure more viewings as a result. 

Simply put, virtual staging allows a potential buyer to visualize what the space could look like when they move in without the overhead costs of staging or any of the “heavy lifting” typically associated with this task. If they like what they see (or envision), they’re much more likely to put down an offer than they are to look elsewhere. You may even be able to raise the asking price accordingly.

Final Thoughts. 

Home staging is one of the most effective ways to ensure that a property spends minimal time on the market, to the benefit of real estate agents, buyers, and sellers. Furthermore, various studies have found that staging a home correctly can increase viewings, interests, and ultimately offers from buyers - meaning it is something that many estate agents consider a necessity in the current climate. 

However, as traditional staging requires a great deal of financial investment and takes up a lot of time, it simply isn’t an option for many sellers. Virtual staging can remedy this - creating clear, high-quality images that showcase properties in their best light without the costs that are typically associated with this. 

Virtually staged rustic luxury living room

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