Who Loves A Lie in Real Estate?
Not your clients I am sure. Much discussion has been made throughout the different Realtor, Design, and Staging platforms about whether virtual staging is a lie, unethical, and should it even be allowed when selling homes? Some markets have decided to not allow it for ethical reasons and also due to the potential legal ramifications from consumer deception.
There is a time and place for everything, even virtual staging, but not like you might think. Virtual staging/design is a great option when you are trying to depict an image of what can be when creating a floorplan or design board for new construction or remodeling. But at the end of project, consumers want to see the real deal. All you HGTV fans out there can attest that the one thing we always hear on reveal day is…“It’s even better in person than I could’ve imagined!” There is a reason for that: Imagining something virtually and seeing it in person are two entirely different experiences.
Let’s go back to the HGTV experience. Imagine if instead of trained professionals creating the plan, executing the plan, and staging the finished product, we had graphic designers running the show. I am certain the initial vision would look amazing. I am not so certain that the end result would be “better than imagined” because they have not learned the profession and lack the practical, professional experience required to take design to reality.
“Will your buyers expectations be satisfied by what they see if they enter an uninviting and cold room that does not match the virtual images that brought them to the property?”
In today’s market where a home barely makes it to the MLS and often buyers are buying sight-unseen, you can argue that staging isn’t needed. With that logic home owners might argue Realtors are not needed either. Got your attention there, didn’t I?
Let’s look at the lie. According to the National Association of Realtors (NAR), on average FSBO’s sell for significantly less than those houses listed with a Realtor. The same is true for virtually staged homes because buyers do not have that in person, emotional reaction. Real-estate professionals know this emotional connection is essential to get buyers to not only offer but not back out of that offer.
How does that lie effect millennials, the largest buying pool? Millennials do not like to be fooled. With virtual staging, little if any account is made to the true dimensions of the space, let alone the scale or style of the virtual furnishings.
Virtual staging is often presenting the impossible.
Realtors can tell you all about that listing that had a great room that virtually contained 2 oversized couches, 4 lounge chairs, and a Baby Grand Piano. In reality, there is no way all that furniture fit. In addition to the lack of consideration of actual space, buyers don’t like the look of fake or made-up, which by definition is virtual staging.
According to Realtor.com, buyers will begin to have a better selection of homes to choose from, and competition will continue to gain the upper hand when presented at its finest. Millennials will continue to drive the market and not only are they shopping for their lifestyle, but the older millennials will now be shopping for a trade-up.
So before you rush off to invest in the bargain staging, ask yourself this:
“Will your buyers expectations be satisfied by what they see if they enter an uninviting and cold room that does not match the virtual images that brought them to the property?”
“Are you willing to leave thousands of dollars on the table by not presenting the best possible product for your seller and buyers?”
If despite all of this you are investing in virtual staging, be sure your agent is:
Using complimenting furnishings and décor that work for the home
Not blocking or covering the features of the rooms
Not hiding damage or imperfections with virtual rugs or art
Disclosing to buyers that the pictures have been altered and are digitally enhanced
What you see isn’t always what you get…
We like to compare virtual staging to on-line dating….Things look great in pictures, but when face to face with the real deal, you might not get what you signed up for, and once that image is gone, so is your deal!