Can Virtual Staging Replace The Real Thing?

TorontoRealtyBlog

There's just no substitute for the real thing in all areas of life, right?

Are you one of those people who can taste the difference between Coke and Diet Coke?

I don't drink "pop," (does anybody call it that anymore?), so I certainly wouldn't know.

What about a real Louis Vuitton bag versus a knock-off?

What about……………love?  Can you fake it for 45 minutes in a motel room by the airport?

Sometimes, there's just no substitute for the real thing, and when it comes to the art of staging in real estate – and yes, it's an art, I just don't believe there's any way to do it cheaper and easier, and achieve the same end result.

To continue Wednesday's blog theme, I was reading the newspaper recently, and happened upon an article about virtual staging:

"Done Deals: Virtual Staging Helps Sell Luxury Toronto Penthouse"

The article contains a video which "highlights" the virtual staging, but the irony is, the article also notes that the condo sold for $80,000 under asking, and was on the market for 69 days.

So did virtual staging really "help" sell the penthouse?

Or did it hold the sale back?

I'm being facetious, of course.  The property could have been over-priced; there could have been many reasons why it took 69 days to sell.  But I can't help wonder if actually staging the condo would have made it show better.

I have long maintained two things with regards to staging:

1) Staging is an absolute must in 2018, and I refuse to even debate the point.
2) Virtual staging leads to disappointment.

Simply put, buyers don't do well with "bait-and-switch," and that holds true with every aspect of a listing.

For example, how many of you have gone to see a "1-plus-den" condo only to find that there isn't really a den?  A small nook off the kitchen?  That is why you came to see the condo?  You were hoping the den would pass as a second bedroom!

Buyers hate walking into a house or condo, and seeing a worse representation in person, than what was promised in the MLS photos.

Take this condo for example:

What do you see?

It shows well, right?

Clean, modern, and well-staged.

However, there's a catch to this.

And with each successive line I write, I think I've strung you along far enough…

….this is virtual staging!

Be honest – did you notice?  Seriously, tell me in the comments section below.  I know that now you can tell the difference, but when I said, "Look at this condo below," and you scrolled, did you really notice?

Let me put the "empty room" and "virtual staging" photos side by side:

 

 

 

 

I know exactly what you're thinking: the virtual-staging looks really good, and much better than an empty room.

You're right.

And I'm not denying that the virtual-staging looks better than the empty room.  I think that speaks for itself.

My problem is twofold:

1) I believe in spending money on my listings, and virtual staging, rather than actual staging, is a cop-out.
2) Buyers will be disappointed when they enter an empty unit.

The second point is the bigger problem, hence why I believe in the first point.

Simply put, when something doesn't live up to expectations, it disappoints.  Few buyers will get excited enough to buy a unit when they step inside and immediately experience a let-down.  Sure, it's the same condo inside, but it's empty.  And it's less attractive.

Selling real estate often means capitalizing on a buyer's emotions, and you want to create a comfortable, dream-worthy environment for that buyer.  You don't want to lure them to an empty condo, and then expect their imagination to close the deal.

So while some of you will be quick to suggest that virtul staging can work, because it's better than an empty condo, I would argue that's a half-measure.

And there are no half-measures in our market, with the stakes as high as they are.

At least, I don't take half-measures.  And neither should you.  Nor should you hire an agent that does.

I've always been somewhat binary; black and white, all or nothing.  But I honestly think this is a perfect example of where that ideaology makes sense.

Virtual staging might get people through the door, but it won't keep them inside.

There are no shortcuts to to the top, folks!

And if you want to sell for top dollar, stick to the kind of staging that looks good both in photos and in person…

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