According to a recent survey conducted by Clever Real Estate, it has been found that in 2024, the average cost for American home sellers to sell their homes is $54,616. Surprisingly, 42% of sellers reported that the costs exceeded their initial expectations. Furthermore, a staggering 89% of sellers have expressed regrets regarding their home sales, with the most common reason being that they sold their homes too quickly (30%).
Rising Costs and Regrets
The high costs associated with selling homes, including agent commissions, are significantly impacting American sellers' profits this year. Following the elimination of NAR's rules on agent commissions after a National Association of Realtors settlement, sellers are now facing the repercussions. As a result, there has been a shift in sellers' preferences, with an overwhelming majority now advocating for buyers to bear the burden of their own agent fees.
Demand for Change
This paradigm shift in the real estate market is indicative of a growing demand for change and transparency. American home sellers are increasingly vocal about the financial challenges they face during the selling process. With rising costs and unexpected expenses, sellers are seeking innovative solutions to alleviate the financial strain of selling a home.
Looking Ahead
As the real estate landscape continues to evolve, it is evident that sellers are becoming more conscientious about the financial aspects of selling a home. The findings of the survey shed light on the pressing need for reform in the real estate industry to ensure a more equitable and transparent selling process for all parties involved.