The Real Estate Staging Association® (RESA®) study shows 126 homeowners had their property on the market on average of 263 days before they decided to stage. 263 days = 9 months!!!
Those same homes were staged and sold in 60 days on average after staging. This is 78% less time on the market. This is 7 months less time on the market.
As an example, using this formula you can determine approximately how much money you will continue to spend while your home is on the market un-staged.
- If your mortgage is: $1800.00
- If direct expenses are: $300.00
- Total carrying cost per month: $2,100.00
Our study shows home owners had their property on the market for an average of 9 months. $2,100.00 X 9 months = $18,900.00 in expenses.
Had those homeowners staged first, their time on market would have been cut by 223 days on average (7 months). $2,100.00 x 7 months= $14,700.00 Staging their homes first would have saved them $ 14,700.00.
These numbers are all relative to individual mortgage and expenses. Use this simple formula to determine how much you will save by staging your home or listing before putting it on the market:
Mortgage + expenses (utilities etc.) = Monthly expenses Monthly expenses X 9 months (avg. time un-staged) = Cost to list house un-staged Savings: Expenses x 7 months (average time on market reduced) – staging fee = Savings if you stage your house first!
** If you have a price reduction you can also add that into the loss you are taking by listing a property un-staged.