In a real estate market undergoing constant change, informed sellers have the best chance to succeed. The 2024 home seller profile reveals key trends, including thorough preparation, strategic pricing, and the effective use of technology. Understanding these characteristics can help sellers present their properties attractively and negotiate effectively for the best outcomes. Here’s a breakdown of the trends shaping home selling in 2024.
Preparation Time: Setting the Stage for Success
In 2024, sellers invest 3 to 6 months preparing their homes for the market. This preparation involves decluttering, making repairs, staging, and landscaping, often both before and after selecting a broker. A well-presented home can attract more buyers and command a higher price, making this phase crucial for a successful sale.
Leveraging Technology for Maximum Exposure
Sellers recognize the value of technology in reaching a broader audience. High-quality virtual tours, drone photography, and 3D floor plans are standard tools in 2024, attracting out-of-town buyers and those who prefer virtual viewings. Choosing a brokerage with robust technological capabilities is now a major factor in the selling process.
Pricing Strategy: The Fine Line Between Value and Overpricing
Accurate pricing remains critical in 2024. Overpricing can extend the time a property stays on the market, potentially leading to lower final sale prices. Sellers are focusing on pricing strategies that balance attracting buyers while maximizing returns, understanding that competitive pricing is key to a quicker, more profitable sale.
The Art of Negotiation
Sellers in 2024 are prepared for moderate negotiations, often expecting buyers to request repairs or concessions. In Central Oregon, negotiations typically range between 2% to 6% off the listing price. Being flexible and open to negotiation can lead to smoother transactions and faster sales.
Marketing and Presentation: Reaching Buyers Where They Are
Digital marketing plays a significant role in reaching potential buyers in 2024. Social media campaigns, targeted online ads, and real estate platforms are essential tools for engaging buyers. Traditional methods like open houses and print ads still hold value, but digital advertising and professional photography have become the standard for showcasing properties.
Commission Adaptations: Navigating the New Landscape
Recent changes, driven by the National Association of Realtors lawsuit, have increased transparency in how commission fees are managed. Sellers now need to establish compensation structures upfront, and buyer’s broker agreements are required before any showings. Understanding these new rules is essential for a clear and successful transaction.
Conclusion
As the 2024 real estate market continues to evolve, sellers who embrace these trends—preparing thoroughly, leveraging technology, pricing strategically, negotiating smartly, and adapting to new commission rules—will be best positioned for success. Download our full report for a deeper dive into the current market trends and strategies to navigate this year’s real estate landscape.