With high home-selling costs eating away at
profits that are much slimmer than they were a few years ago, 89%
of sellers have regrets about their sale.
ST.
LOUIS, June 18, 2024 /PRNewswire/ -- Home
sellers in 2024 spend an average of $54,616 to sell their homes, with 42% reporting
that the costs exceeded their expectations, according to a new
survey from Clever Real Estate, a St.
Louis-based real estate company.
The cost breakdown includes:
- Listing agent commission ($11,136)
- Buyer's agent commission ($10,467)
- Repairs ($10,000)
- Closing costs ($8,000)
- Concessions ($7,200)
- Moving expenses ($3,250)
- Marketing ($2,300)
- Staging ($2,263)
When preparing to sell, 80% of sellers followed their agent's
advice, although 67% felt the recommendations were more expensive
than they were comfortable with. However, 65% believe their agent's
advice resulted in a higher sale price.
In 2024, 89% of sellers compromised on their priorities, with
selling above the asking price being the most commonly compromised.
Sellers were 87% more likely to sell below asking price compared to
2022, and 34% were dissatisfied with the final sale price.
Additionally, 89% made concessions to the buyer, with a median
value of $7,200.
A whopping 89% of sellers expressed regrets, with the most
common being that they sold too quickly (30%).
If they had known the true cost of selling their home, 89% of
sellers would have approached the process differently. Sellers
believe that with a different strategy, they could have sold their
home for an additional $50,000
on average.
In hindsight, sellers would have:
- Listed their home for a higher amount (36%)
- Waited for more offers (35%)
- Negotiated more with the buyer (32%)
- Waited to sell until home prices increase (31%)
- Negotiated commission with their agent (31%)
Despite the costs, 64% of sellers made a profit at a median of
$100,000. Homes sold with an agent
fetched $34,000 more on
average, leading to 54% of unrepresented sellers regretting not
using an agent.
Read the full report at:
https://listwithclever.com/research/cost-to-sell-a-home/
About Clever Real Estate
Clever Real Estate is a technology company that produces
educational real estate content reaching over 10 million readers
annually, and its nationwide agent matching service has a 5.0-star
Trustpilot rating across 2,300+ customer reviews. Since launching
in 2017, Clever has reached $8.5
billion in real estate sold, matched 100,000+ customers with
realtors, and saved consumers over $160
million on commission fees. Clever's network spans 19,000
agents across all 50 states.
Please contact Nicole Lehman at
379239@email4pr.com with any questions or to arrange an
interview.
Sold a home in the last 5 years?
The experts at Clever Real Estate want to hear your story.
Answer a few quick questions for the chance to win a $250 Amazon gift card. (Bonus: If you also bought
a home recently, leave a second review for that experience to get
two entries.)
CONTACT:
Nicole Lehman
Clever Real Estate
379239@email4pr.com
724-719-0406
View original content to download
multimedia:https://www.prnewswire.com/news-releases/americans-spend-nearly-55-000-to-sell-a-home-in-2024--302175161.html
SOURCE Clever Real Estate