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A recent survey conducted by Clever Real Estate reveals that home sellers in 2024 are grappling with high costs and expressing regrets about their selling experiences. The study found that sellers spend an average of $54,616 to sell their homes, with 42% reporting that the costs exceeded their expectations. Furthermore, a staggering 89% of sellers express regrets, with the most common reason being that they sold their homes too quickly.

The cost breakdown for selling a home includes various expenses such as 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), and staging ($2,263). Had sellers known the true cost of selling their homes, 89% of them claim they would have approached the process differently, believing they could have sold their homes for an additional average of $50,000.

The survey also highlights a significant shift in sellers’ preferences regarding agent commissions. Following the National Association of Realtors’ settlement that eliminated NAR’s rules on agent commissions, a majority of sellers (94%) now endorse proposed updates to the commission system, where buyers would cover their own agent fees. Surprisingly, nearly half of sellers (49%) are unaware that they currently pay the buyer’s agent commission.

The study further reveals that commission rates significantly influence sellers’ choice of a real estate agent, with 77% stating its importance. Notably, 60% of those planning to sell without an agent cite expensive real estate commissions as the reason. However, despite recognizing the importance of agents, 77% of home sellers are unaware of their responsibilities during the sales process. Additionally, more than two-thirds believe that artificial intelligence (AI) could outperform human agents.

Real estate agents, on the other hand, oppose changes to the commission structure post-NAR settlement, with 70% expressing their disapproval. Only 15% of agents believe the changes will have a positive impact on their business, while 58% anticipate negative consequences. Among agents who expect negative impacts, 88% believe it will discourage first-time buyers from entering the market. Moreover, 82% of Realtors believe the commission changes will hurt buyers, and 42% think it will negatively impact sellers. A concerning 95% of surveyed agents expect the new commission structure to drive agents out of the industry.

In terms of timing, property-data provider ATTOM’s analysis suggests that the first half of the year, particularly the months of May, February, and April, offer the highest seller premiums. ATTOM’s ranking of each month’s greatest seller premiums places May at the top with 13.1%, followed by February (12.8%) and April (12.5%). Additionally, ATTOM identified specific days with high seller premiums, with May 27 leading at 16.2%.

For those who have successfully sold their homes during the optimal selling periods, U.S. News & World Report recently released its 2024-2025 Best Places To Live in the United States list. Naples, Florida secured the top spot due to its strong job market and quality of life. The rankings, based on value, desirability, job market, and quality of life, saw many new appearances in the top 25 from cities in the Midwest and South.