A number of homeowners did not achieve the desired results this year. But it’s not because there’s something wrong with the market. It’s because something was wrong with their expectations.
Realtor.com reports 57% More homes have been taken off the market compared to last year. That means they listed on the stock exchange… but didn’t sell. But here’s the honest truth. It was mainly due to two things: price And timing.
And if the salesperson had come into each of them with the right attitude, their sales would have been different. Here are the two most important things you can learn from those other sellers.
1. Praise it from day 1
Let’s start with the most common sticking point: the asking price. Today, 8 out of 10 sellers expect to get their asking price or more. But that confidence does not always correspond to reality.
According to Redfin, only 1 in 4 (25.3%) sellers actually get more than their list price.
And this is where the mismatch comes from.
A few years ago you could set any price and buyers would come running regardless of what was on the price tag. Chances are you would still sell if you charged more. But things are different now.
Buyers have more options than they’ve had in years, so they can afford to be more selective. If your price feels even slightly high to them, it will be overlooked in a heartbeat.
And for the homeowners who have experienced that, some end up pulling their listings instead of making a simple adjustment that could have changed everything. That’s a shame, honestly. Because a small price adjustment is usually enough to bring in buyers and close the deal.
According to HousingWirethe average price reduction is currently only 4%.
Think about that. Other sellers quote too high and give up rather than lower their price by 4%. If they had just started 4% lower, they might have already sold. So before you place an ad, talk to your agent about what’s working in the area. They’ll help you find the sweet spot that’s competitive and realistic while still protecting your bottom line.
And here’s the kicker. If you’ve lived in your home for a while, your equity gives you room to set your list price more competitively and still come out far ahead. Unfortunately, those other sellers didn’t seem to realize that.
2. Don’t rush the process
Another common misstep: expecting your house to sell within a weekend.
Many sellers now remember when homes sold within hours – and they expect that to continue to happen today. But in most markets that is no longer the reality.
It takes closer 60 days to go from listed to sold, which is actually the case normal (see the gray in the graph below).):
It just is feels slower as they compare it to the lightning pace of 2020 and 2021.
Think of it as driving 100 km/h on the highway, then getting off and driving 25 km/h. It feels like you’re crawling, but it’s actually the right speed for where you are. That’s what other sellers can’t seem to get over. But you can anticipate this by knowing what to expect.
Today’s buyers are more conscious. They take their time, weigh their options and make thoughtful decisions, creating a much healthier housing market.
So if you’re planning to sell, don’t expect it to happen immediately. And don’t assume your house won’t sell if it isn’t under contract the first weekend.
It’s normal for these things to take time.
If you want to ensure your home sells as quickly as possible, talk to your agent about ways to stand out, whether that’s through staging, photography, or strategic pricing. With the right advice, the right price and the right preparatory work, it can still be sold quickly.
In short
If you are considering selling, don’t let the market discourage you, let it guide you. The deals that didn’t sell this year weren’t doomed. They just started with the wrong strategy.
You can still win if you price it right, be patient, and work with a local real estate agent who knows how to position your home from the start.
Because in today’s market, success is not about waiting for circumstances to change. It’s about meeting your expectations from day one.
#important #homeowners #selling