There’s no denying: Charlotte is a seller’s market right now.
That’s great news for sellers! More flexibility, more return-on-investment, and more offers to entertain. (Well, hopefully!) Here at Creative Home Stagers, we talk to well-meaning homeowners all the time who have the same – totally fair! – question:
“Why should I invest in staging when I know my house will get multiple offers regardless?”
In a hot market, it’s tempting for sellers to believe they hold all the power. Why put any extra energy into selling when the market will practically do all the work for you? Selling a house is stressful enough without adding things to the to-do list. It’s understandable that confident sellers consider skipping staging.
Why not? We’ve worked with hundreds of sellers over the years in both buyer’s markets and seller’s markets. We’ve seen the Charlotte real estate landscape change significantly over the past decade and longer, but a few truths have always held true. Even in the kind of market that almost guarantees a bidding war, here’s why you still need to stage.
Bidding wars are great. Outlier bids are even better. What are outlier bids? Say your home is listed for $400,000 and you get six offers…if they’re all right around $400k, you’ve priced your home exactly at market: People think it’s worth what you’re asking but nothing more. Savvy buyers are willing to pay asking price and beyond, but they still don’t want to overpay.
Now, a beautifully staged home conveys extra value to buyers. In Charlotte, less than half of sellers are staging which makes a staged home – particularly a high-end home – stand out. Staged homes bring in outlier bids. That means that if you list your perfectly-staged home at $400,000, you may get two offers for less, one offer right around ask, and three offers for $425,000, $440,000, and $472,000. Isn’t that a more “successful” bidding war than one that leaves you right around asking price?
Buyers know that in a seller’s market they’re going to have to compete for homes. Here in Charlotte, the new norm in some neighborhoods is bidding wars with three, five, and even 10+ offers for homes! There are still many, many buyers out there who see “asking price” as the “top price” – no one wants to feel like they’re getting a raw deal. That’s why it’s so important for your home to feel special. It can’t just be inventory, it’s got to be the home buyers have been waiting for! to attract top-dollar. When discouraged buyers get excited about a home, they’re more inclined to offer a higher price (and with better terms) so it doesn’t slip through their fingers.
And though the prospect of multiple offers is certainly exciting, sellers should never be too sure they’ll find themselves in a bidding war! Statistics show that the average seller in Charlotte still “only” gets 97% of their asking price; that means more often than not, sellers are settling for less than ask, not more. One of the best ways to practically ensure you get lots of interest is to create a standout house. That starts with staging, professional photography, and a great Realtor.
Questions about staging in Charlotte?
Staging is cheaper than you think! If you want a bidding war, call us.
We know what Charlotte buyers are looking for.