According to a report from the National Association of Realtors, just 28% of properties are staged prior to going on the market. The same report stated that home staging can make a real impact on the seller’s bottom line revealing that 22% of sellers’ agents reported an increase of one to five percent of the dollar value offered by buyers, when compared to similar homes. Furthermore, seventeen percent of respondents said that staging increased the dollar value of the home between six and ten percent.
The Importance Of Staging
There are many reasons for staging a home, says Hope Khouri who is a real estate agent with Halstead in New York, “I think it can be very hard for some buyers to walk into an empty space and visualize it as a home and virtual staging helps do just that. A buyer can then have an idea as to where to put their couch, table, television, etc and imagine living there and being happy.”
While statistics show that this expense can clearly pay for itself, sellers can still be reluctant to allocate additional funds for staging. Many times, not only do they need to pay for furniture rental, but also to use professional staging services and interior designers. Then there’s the labor and logistics of physically moving furniture in and out. However, virtual staging eliminates many of these challenges.
Virtual staging isn’t only a common practice for selling a home, but it’s also a useful tool to help landlords lease rental properties, explains real estate marketing manager, Leah Love Orsbon, “We do lots of virtual staging for apartments. Very popular. We even let them use the app to place their own furniture.”
Virtual Staging 2.0
While virtual staging is nothing new, Wayfair’s luxury division, Perigold and Sotheby’s International Realty recently launched a collaboration that takes this technology to the next level by making it a platform for e-commerce. Listings on the agency’s website as well as the Curate by Sotheby’s International Realty augmented reality app staged with Perigold furniture and accessories are now shoppable.
“Our collaboration with Perigold builds upon the continued excitement from our global network and agents to provide clients with the latest and best in technology,” says John Passerini, who is the global vice president of interactive marketing for Sotheby’s International Realty Affiliates.
There are many benefits of this collaboration. Agents and sellers can save money and time on staging. It also eliminates the logistical challenges that real furniture can present.
For potential buyers or just anyone looking through real estate listings, the furniture, accessories, and décor on virtually staged properties can be purchased through shop-the-room functionality that clicks directly to Perigold’s website. This also allows buyers who like the virtually staged rooms to skip a major step when it comes to buying a new home, having to look for exactly the right pieces. At the very least, these listings can inspire anyone looking to refresh a room, much in the same way Pinterest and Instagram do.
“Through this relationship, consumers and real estate agents alike will discover how fine furniture and décor—some of which were previously only available to industry professionals –can truly elevate a room and captivate even the most discerning clientele,” says Rebecca Ginns, general manager, Perigold. “Regardless of the style of home, having the right furnishings can be one of the most powerful tools when creating a space that is sure to leave a favorable impression.”
After all, first impressions are everything, especially in real estate. A stylishly furnished, virtually staged listing will attract buyers to come out and see a property in real life.