This could be a huge waste of money when selling a house
YesYou’ve heard it ad nauseam: Staging a property can help it sell faster and, potentially, for more money. And according to data from the National Association of REALTORS (NAR), it can: 23% of buyers’ agents noted that a staged home increased their price offers between 1% and 5%, while 15% said price offers rose anywhere between 6% and 10%.
But staging can be expensive and time-consuming, depending on the size of your property. If you’re trying to save money for your next property purchase and don’t feel like staging it yourself, know that 26% of agents said a staged home had no no influence on a buyer’s offer, according to the NAR. The data. Now, that may be sacrilege in some circles, but yes, you can indeed skip the staging and display a list of white boxes instead.
A whitebox list is a property left clean, empty, and unstaged – a true whitebox. It’s not as sleek as a fully staged home, of course, but it could be a good move if you find yourself in one of these real estate scenarios as a real estate investor.
1. It’s a large luxury property
The reason staging remains popular is that it really demonstrates the potential of the space to buyers. That’s a moot point, though, if the house is so big that it doesn’t matter where you put the dining room table or what wall you need to set aside to hang the flat-screen TV.
Luxury homes are great for white box listings because buyers want to see a blank canvas and imagine what they can do to the space to make it their own.
2. He’s in bad shape
Even small corrections can be paid for on resale. But if you’re trying to unload a home that’s more than a little less worn, it might be best not to even pretend it’s in move-in condition. It might not work in the buyer’s market, but in today’s seller’s market, even troubled homes are getting a lot of interest from buyers and even sparking bidding wars.
If your property is in dire need of updating, even the most carefully placed cushions won’t do much to elevate it in the eyes of the buyer. Instead, clean everything up, give it a good clean, and paint the walls a light neutral color to give the space a fresh look.
3. It has unique features which are the real selling points
If your property has a certain wow factor that will essentially help it sell – think outstanding views, expansive grounds, or attractive architectural details – then staging might be an unnecessary distraction.
A home staging professional once told me that when a room is empty on an open house, the buyer’s natural inclination is to walk up to the window and look out the window. If your property offers the views they are looking for, white boxing could be your strategy.
Does a blank canvas leave too much room for a buyer’s imagination?
It might seem strange to buck a trend that has essentially spawned a lucrative industry and an entire reality TV subcategory. If you’re not sure you can get by without staging your property, virtual staging offers the best of both worlds.
Use a digital app to add virtual furniture and decor to your property photos for the real estate listing, but leave the space clean and empty in person. This way, you can show the right bones of the space while satisfying buyers who need advice on viewing the property.
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