Emotional connection competing with price as biggest driver in real estate market

Dollars and cents may be the most important factor when buying some products, but a home is not one of them. In fact, a recent survey from Coldwell Banker Real Estate LLC revealed that since 2014, more than one quarter of home sellers are twice as likely to select an offer on their property based on emotion rather than money alone.

“There is a notable difference in seller psychology today compared Coldwell Banker Real Estate to 10 years ago,” Budge Huskey, president and chief executive officer for Coldwell Banker Real Estate LLC, said. “The national housing market has changed significantly over the past decade, and seller sentiments have evolved. Home sellers often want to feel emotionally connected to the buyer.”

Of course, this trend runs both ways. In many cases, individuals decide to buy a home based on their emotional connection to the property itself. This is where the team at Showhomes comes in. As the largest home staging company in America, Showhomes understands what a difference the feeling of a home can have on potential buyers.

While the improving economy certainly plays a role in the shift from money to emotion, Matt Kelton, COO of Showhomes, also believes it has to do with the proliferation of home design in popular culture.

“Interior design staging has gotten very, very popular,” he said. “There are a lot of HGTV fans out there. It used to take me 10 to 15 minutes to explain staging, but now people are telling me about it.”

Kelton also explained how home staging suits the consumer demand for emotional connection to a property.

“Most people don’t understand the difference between decorating and home staging,” he said. “Staging is all about creating an environment where potential homebuyers can envision themselves living in the space. It’s a streamlined process that follows a certain formula. It’s something we’ve been doing for more than 30 years.”

Part of it is making sure the home is visually inviting, from using on-trend paint colors to installing new flooring and stainless steel appliances that will attract the eye. After all, with Americans earning more money, they want to ensure their home follows the suit of those HGTV design shows they love so much.

However, home stagers must also find the ideal balance between decluttering a space so people can imagine themselves in it without leaving it feeling cold and sterile.

“Every market’s a little different stylistically, but one thing remains the same: You have around 10 or 15 seconds when someone walks through the door to give them those warm and fuzzy feelings,” Kelton continued. “If you can’t create that emotional connection with a space, it’s not going to work.”

It’s that emotional connection that leads prospective buyers to throw their budgets out the window and pay extra once they fall in love. It’s also a mission the Showhomes team has been accomplishing on a regular basis for three decades and counting.