Selling your property quickly and at a premium is a goal for any homeowner and realtor. While home staging is a proven method to achieve this goal, traditional staging can be costly and time-consuming.
Virtual staging, on the other hand, is a cost-effective and efficient solution. By using computer-generated imagery to add furniture and décor to photographs of the home, the process can be completed in a matter of hours. This can be an effective tool for realtors looking to boost sales, as it can help a property stand out in a crowded marketplace and make it more appealing to potential buyers.
In this article, we'll explore the financial aspects of virtual staging and how it can benefit your business by transforming empty or outdated rooms into visually appealing spaces at an affordable cost.
Here's an overview of what we'll be discussing:
- Calculating the Cost of Virtual Staging
- Who Pays for Virtual Staging
- How Much Does It Cost to Virtually Stage a House
- Is Virtual Staging Worth the Cost
- Virtual Staging vs. Real Staging Costs
You’ve probably noticed that the cost of virtual staging can vary greatly depending on the provider you select. In order to fully realize the financial benefits of virtual staging and make the most out of the process, it's important to take into account various factors that can impact the cost:
- Software costs: The cost of virtual staging software can vary greatly depending on the features and capabilities of the software that your provider uses. Some software options are free, while others can cost hundreds or even thousands of dollars. Additionally, some companies like VirtualStaging.com opt to develop their own proprietary software to better cater to market needs and offer more cost-effective pricing options.
- Experienced designers: Another factor to consider is the level of experience and expertise of the designers that your provider employs. A company with more experienced and skilled designers may charge more for their services, but they may also be able to create more realistic and high-quality virtual staging images. On the other hand, a company with less experienced designers may offer lower prices, but the quality of the virtual staging images may not be as high.
- Furniture inventory: Another aspect to take into account when figuring out the cost of virtual staging is the availability and variety of furniture inventory that your provider offers. Having a wide range of 3D models of furniture and decor can greatly enhance the virtual staging process, as it allows for more customization and flexibility in showcasing a property's potential. However, a provider with a limited inventory may charge less for their services, and the virtual staging images may not be as dynamic or realistic. It's important to consider the availability and quality of the furniture inventory when comparing different providers and their pricing. At VirtualStaging.com we regularly invest in expanding our catalog with new interior design styles to keep up with the market trends.
Here are some additional expenses that may be included in the overall cost of virtual staging:
- Image editing costs: Depending on the quality of your photos or any other specific requirements you have, you may need to pay for additional image editing services to enhance the virtual staging images. This could include things like furniture removal, image enhancement, floor/wall change, or adding special effects. These costs can vary depending on the level of editing required and the provider you choose.
- Additional services: Most of the virtual staging companies also offer services such as 360° Virtual Staging or Virtual Tours for an additional cost. These services can provide a more immersive and comprehensive virtual staging experience, allowing potential home buyers to take virtual walk-throughs of the property and see it from every angle.
When it comes to virtual staging, it's important to remember that you get what you pay for. While it may be tempting to go with the cheapest option, it's important to consider the quality of the virtual staging images and services to ensure that your properties are being presented in the best possible light. By taking into account all of these factors, you can make an informed decision about the best provider and pricing options for your needs and maximize the financial benefits of virtual staging.
The responsibility for covering the cost of virtual staging can vary depending on the situation and the agreement between the parties involved. In most cases, the seller is responsible for covering the cost of virtual staging as part of their efforts to market and sell the property. In other cases, the real estate agent or brokerage may be responsible for covering the cost of virtual staging as part of their marketing and advertising efforts.
The cost of virtually staging a home can range from $72 to $360, depending on factors such as the number of photos to be staged, and the provider you select. Here’s how we reached this number:
The National Association of Realtors' 2021 Profile of Home Staging reveals that living rooms (47%), primary bedrooms (43%), and kitchens (35%) are considered important rooms to stage by buyers' agents.
Let’s say you only want to stage these rooms — what would the cost be?
The cost of virtual staging varies depending on the company you select. At VirtualStaging.com, we offer a flat rate of $24 per image, regardless of how many rooms are visible in the photo.
So assuming that we are dealing with an open-plan area that encompasses a living room, kitchen, and dining room, the cost of virtual staging can be as low as $24 for all those spaces. To fully showcase the space, it is recommended to take photos from at least two different perspectives and stage them both, highlighting various areas of the room. This amounts to $48, and including the primary bedroom, the total is only $72.
Statistics from the Statista Research Department reveal that the typical single-family home in 2021 measures 2,273 sq. ft. This means that there are many more rooms that can be staged to capture the attention of potential buyers.
Additional rooms that can be staged include (among others) a child's bedroom, home office, bathroom, game room, walk-in closets, laundry, entryway, and outdoor spaces such as a lounge or dining area. Depending on the number of photos, the virtual staging cost could be around $360.
Virtual staging is worth the cost because it can help the house sell faster while potentially yielding a higher return on investment compared to traditional staging due to the lower expenses associated with it.
According to a survey of buyers' agents for NAR’s 2021 Profile of Home Staging, staging can have a significant impact on how buyers perceive a property.
Home staging helps buyers to envision the property as their future home, according to 82% of buyers' agents. Additionally, 41% of agents reported that buyers were more likely to physically visit a home after seeing it staged online, and 39% said that staging influenced buyers' perception of the home's value when it aligned with their personal taste.
A significant portion of sellers' agents, 23%, noted that home staging resulted in a 1-5% increase in the property value. Not only that, but 53% of all sellers’ agents noted a substantial decrease in the home’s days on market (DOM).
Both virtual and traditional staging allow potential buyers to visualize how a property would look with furniture and décor, but they do so at drastically different price points.
Traditional home staging costs can vary greatly depending on the size of the property, whether it’s a luxury property, the extent of the staging required, and the location. On average, the cost of staging a home can range from a few hundred dollars to several thousand dollars.
HomeAdvisor reports that the national average home staging cost is $1,759, with the typical range being from $766 to $2,852. Moreover, staging costs for high-end homes can be significantly higher, reaching up to $5,000. Some staging companies may also charge a consultation fee or a monthly fee for ongoing maintenance and updates. Additionally, furniture rental companies often mandate a 3-month contract for luxury properties, regardless of how quickly the home sells.
Virtual staging, on the other hand, typically involves a one-time cost, and it is a cost-effective alternative to traditional home staging. Virtual staging is the process of using software to place virtual furniture, décor and accessories in the pictures of an empty or sparsely furnished property, without the need of physically staging the property or incurring the costs of renting furniture and décor.
The adage "time is money" applies to home staging as well. Virtual staging offers a significant advantage in terms of turnaround time compared to traditional staging. The process of working with a staging company can take several weeks, during which the property remains unsold. Virtual staging, on the other hand, typically takes between 48 hours and 72 hours to complete. Some companies like VirtualStaging.com have even streamlined that process, providing virtually staged photos within 8-24 hours.
RubyHome, a luxury real estate agency, has calculated that the return on investment (ROI) for staged homes can be substantial, based on the statistics we have included here. Specifically, the ROI can range from 102% to 909%. Given its lower costs, virtual staging may offer an even greater potential return on investment (ROI) compared to traditional staging.
FAQs on Virtual Staging Costs
How much does virtual staging cost?
The cost of virtual staging can vary depending on the company providing the service, and the number of images that need to be staged. At VirtualStaging.com, we charge a flat rate of $24 per image, regardless how many rooms are visible in the photo.
Does virtual staging help sell a house?
Virtual staging can be a helpful tool for selling a house. It allows potential buyers to envision how a home could look with furniture and décor, and can help to highlight the home's features and potential. Virtual staging can also be less expensive than traditional staging, and can be done quickly, making it a cost-effective option for sellers.
What’s the virtual staging average cost?
The cost of virtual staging can vary widely, depending on the provider you choose, with prices ranging from as low as $10 to as high as $300 per image. However, it's important to keep in mind that lower cost options may not always provide the highest quality results. To ensure you get the best value for your money, it's a good idea to research different virtual staging companies before making a decision.
Try Virtual Staging Now
Virtual staging is a great alternative to traditional staging. With virtual staging, you can get professional results at a fraction of the cost.
You can test our services at VirtualStaging.com, and if you aren’t happy with your virtually staged photos, you can ask for a full refund. For more information on how our services can benefit your business, contact us at (206) 350-7201 or email us at firstname.lastname@example.org.