Why Virtual Staging Is More Important Than Ever? (Data-driven Insights)

Image of a virtually staged dining room, with the kitchen partially visible

In a world where technology is pushing boundaries and reshaping industries, there's one sector that has been slow to jump on the digital bandwagon: real estate. While many other industries have eagerly embraced new technologies, the overall attitude in real estate has been, "If it ain't broke, why fix it?"

And this is somewhat understandable — given that we’ve been riding a real estate boom for quite some time now, enjoying a sellers market where housing demand far outweighs supply.

However, it's important to be mindful of the larger picture. History shows us that real estate markets tend to follow an 18-year cycle, and if we stay true to that pattern, we could see a market crash in the next few years.

So, what does this mean exactly? It means that in the ever-changing real estate market, complacency is not an option. We can't afford to overlook the technology that can give us an edge in selling properties, even if the market takes a downturn.

And what do we know? According to NAR's 2023 Home Buyers and Sellers Generational Trends Report, an astonishing 96% of all buyers now rely on the internet to search for their dream homes. With such a high percentage of buyers turning to the online world, we need a reliable way to grab their attention right from the start — and virtual staging is the perfect solution for that.

Here’s an overview of what we’ll cover in this article:

What Is Virtual Staging?

Virtual staging is a cutting-edge technology that enables you to showcase your home's full potential without the need for physical furniture. It utilizes 3D modeling software to create realistic digital representations of furniture, decor, and other items that are then placed into the photographs of vacant spaces.

Virtual staging technology isn't limited to vacant spaces; it can also be used to enhance non-vacant ones. By digitally removing existing furniture and replacing it with more appealing options, virtual staging provides the opportunity to refresh a space and make it more enticing to potential buyers.

6 Reasons Why Virtual Staging Is the Ultimate Selling Tool

Let's dive into why virtual staging is the real estate game-changer you need. It has the power to generate more leads, speed up your property sales, and even fetch you a higher price. Here's why virtual staging is so important:

      1. It Unlocks Buyer Imagination through Visualization

One of the biggest issues that buyers experience walking through empty or poorly furnished houses is not being able to envision themselves living in those spaces. 

It's no wonder that this is a common issue, considering that 90% of the information we process is visual. However, the challenge lies in the fact that not everyone possesses strong visualization abilities. In fact, approximately 1-3% of individuals lack the ability to visualize altogether.

To tackle this problem head-on and ensure that buyers don't dismiss properties prematurely, it’s important to consider staging. This is more than just a personal opinion; the data from the NAR's 2023 Profile of Home Staging reinforces this idea.

In fact, an impressive 81% of buyers' agents agree that staging a home significantly facilitates the buyer's ability to envision the property as their future home. 

By staging a property, you provide buyers with a tangible visual representation of its potential. You make it easier for them to see how the space can work for their needs, effectively eliminating any doubts or uncertainties. 

      2. It Generates More Leads and Inquiries from Potential Buyers

When it comes to marketing your listing, virtual staging is undeniably one of the most effective tools in your arsenal. According to the National Association of Realtors (NAR), a whopping 40% of buyers' agents confirm that buyers are more willing to schedule a walkthrough for a staged home they saw online. 

Impact of Buyers Viewing a Staged Home infographic of Data compiled by NAR
NAR's 2023 Profile of Home Staging Data

Speaking of stats, a staggering 96% of buyers' agents agree that including photos as part of a listing is crucial. But here's the fascinating part: 49% of them actually consider virtual staging to be equally, if not more, important. This eye-opening statistic brings to light the growing recognition and significance of virtual staging in the real estate industry.

Not only that, but the 2023 Zillow Consumer Housing Trends Report also underscores the importance of digital tools for buyers, particularly highlighting the importance of 3D and virtual home tour technology. 

This only proves that buyers are interested in tools that will allow them to get a feel for the space before going to see it in person. Virtual staging is one of those tools as it gives potential buyers the opportunity to see the space furnished and get a clear understanding of the layout before seeing it in person. 

But here's the exciting part: virtual staging can also work hand in hand with other interactive technologies to provide an even more immersive experience. One such interactive option is 360° virtual staging, which allows potential buyers to explore a virtually staged space from every angle, getting a true sense of the layout and design. Additionally, platforms like Matterport and iGuide take it a step further, offering virtual walkthroughs of the digitally staged properties.

      3. It Helps You Sell Your Property Faster and For More Money

Let's take a look at the numbers, shall we? According to a 2019 study by Redfin, vacant homes nationwide tend to sell for an average of $11,306 less and spend an additional six days on the market compared to their occupied counterparts. This data underscores the importance of staging a property to showcase its full potential and capture buyer interest.

And the trend continues in more recent findings. In 2023, the National Association of Realtors (NAR) reported that 48% of sellers' agents have observed a decrease in the time their listings spend on the market when using staging. 

Time that home was on the market and percent change in dollar value offer of staged home infographics of data compiled by NAR
NAR's 2023 Profile of Home Staging Data

Here's another fascinating insight from that same report: 44% of buyers' agents have noticed an increase in the dollar value of homes that were staged compared to their non-staged counterparts. 

Related Article: Fact vs. Fiction: Do Staged Homes Sell Faster?

If you’re still uncertain about the power of staging, take a look at our case study where realtors reported how virtual staging has played a pivotal role in selling their properties faster and above the asking price.

So, if you're looking to maximize the value of your home and attract top dollar, staging is a strategic move that shouldn't be overlooked. It has the potential to make a substantial difference in the perceived value of your property and ultimately contribute to a successful and profitable sale.

      4. It Also Saves You Valuable Time and Money

Now that we've established the positive impact of staging on the selling process, it's important to acknowledge a practical reality: traditional physical staging can be quite expensive and time-consuming.

Virtual staging does a great job addressing both of these issues. 

With virtual staging, you no longer have to wait for weeks to see the results of your staging efforts, as you can now receive your professionally staged images in a matter of hours. This accelerated timeline allows you to move forward with your marketing plans swiftly and capitalize on the impact of staging without unnecessary waiting time.

When it comes to the cost, the savings are evident. According to the 2023 article by Realtor.com that provides a breakdown of staging costs, traditional physical staging can be quite expensive. On average, stagers charge around $300 to $600 for an initial design consultation and an additional $500 to $600 per month for each staged room.

Related Article: Virtual Staging Cost Breakdown

In contrast, virtual staging operates on a different pricing model. Instead of ongoing monthly fees, virtual staging involves a one-time payment and charges per image, regardless of the number of rooms depicted in the photo. For staging a house, the cost can range from $72 to $360, depending on the number of photos you want to stage.

At VirtualStaging.com, we offer a flat rate of $24 per image, ensuring a cost-effective and transparent pricing structure for our clients. 

      5. It Makes Your Property Stand Out in the Competitive Market

Empty houses tend to fade into the background among countless similar listings. Without furniture and decor to offer proper scale and proportions, your property may appear smaller in listing photos, making it easier for potential buyers to overlook.

That's why according to the 2019 HomeLight survey, over 41% of top agents find that vacant homes benefit the most from home staging.

Virtual staging can also be an effective strategy in targeting specific demographics. For example, it allows you to customize the staging of the spare bedroom to cater to the preferences of your desired audience, such as staging it as a home office for young professionals or a children's bedroom for families.

But it doesn't stop there. At VirtualStaging.com, you can select from an impressive variety of over 8 interior design styles. This means you can choose a style that perfectly matches the tastes of your target demographic, creating an immersive and visually stunning experience for potential buyers.

      6. It Can Also Be Used for Unfinished New Builds

For new construction developers aiming to showcase a property's potential to potential buyers, virtual staging combined with virtual renovation is the perfect choice. It allows you to demonstrate what their future home could look like in a visually appealing and realistic manner.

Before and after transformation of a new construction that's still in progress utilizing virtual renovation and virtual staging service
Virtual renovation can also be utilized for new construction projects that are still in progress

In fact, 72% of new construction buyers expressed that they wished that more listings had 3D tours available, according to the 2023 Zillow Consumer Housing Trends Report. By providing 3D tours, prospective buyers can virtually walk through and explore a fully built-out and furnished property, gaining a clear understanding of its layout, design, and potential.

With the virtual renovation feature, you have the ability to make modifications to existing properties, such as altering the flooring, walls, and more. This is particularly beneficial for older, outdated homes that may need some updates and renovations. 

By showcasing the possibilities, you can effectively communicate the hidden charm and potential of the property. This way you can effectively capture the imagination of buyers who may struggle to see beyond the current state of the home.

However, it is crucial to exercise caution when utilizing virtual renovation to ensure that you do not misrepresent the actual state of the home. It is essential to transparently disclose all the modifications and changes made beforehand, ensuring that potential buyers are well-informed. This proactive approach helps manage expectations, minimizing the risk of buyer disappointment when they see the property in person. 

Final Thoughts on the Importance of Virtual Staging

With the majority of home searches starting online, buyers are increasingly relying on digital tools to screen and evaluate potential homes. The ability to virtually explore properties allows buyers to narrow down their choices and make more informed decisions before visiting in person.

Virtual staging is one such tool that enables buyers to visualize how a home would look with furniture and an optimized layout. 

Digital staging is not just advantageous for buyers; it is also a valuable marketing tool for sellers. It helps properties stand out in the market and offers significant time and cost savings compared to traditional staging methods.

About VirtualStaging.com

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