Texas Realtors Report: Most Sellers Know the Market But Overestimate Home Value

From Staff Reports

Two-thirds of Texas Realtors said most sellers they worked with in 2024 had a moderate understanding of the real estate market, according to the first-ever Texas Homeselling Experience Report released by Texas Realtors.

The report, which captures member insights on working with sellers, found that 20% of Realtors said most of their clients had little to no knowledge of market activity or pricing trends. Meanwhile, 12% said their clients had extensive market knowledge.

“Our members have a unique perspective on the homeselling process,” said Christy Gessler, chairman of Texas Realtors. “Their close interaction with sellers gives them great insight into what is working, where the challenges lie, and what is important to homesellers in Texas today. It’s clear that sellers can benefit from the knowledge and experience Texas Realtors bring to the selling experience.”

The Role of Remodeling in Selling

Slightly more than half of Realtors said they had clients whose recent renovations made the property easier to market. However, 11% reported at least one client whose remodel made the home harder to sell.

While 20% of members had a client whose renovation increased the sales price beyond the project’s cost, 26% worked with sellers who spent more on a remodel than it added in value.

Sellers Taking Realtor Advice

Most sellers followed their Realtors’ recommendations on home preparation, with 68% making suggested repairs before listing and 59% implementing staging advice.

Timing and Pricing Challenges

The biggest concern for sellers was timing, with 56% of Realtors reporting clients worried about selling in time to meet their moving plans. About 36% of Realtors said clients were concerned about coordinating a home sale with a new home purchase, while 25% had sellers worried about losing a buyer before closing.

Pricing expectations also posed a challenge. Nearly three-quarters (74%) of Realtors worked with sellers who believed their homes were worth at least 10% more than market analysis indicated. Only 7% of those properties actually sold at the higher price.

“Pricing your home right for the market is key,” Gessler said. “But that’s just one of many factors required for a successful sale. That makes it essential for clients to rely on the expert guidance and advice of a Texas Realtor.”

About the 2024 Texas Homeselling Experience Report

The report covers experiences Realtors had with sellers from January through November 2024, regardless of whether a sale was completed. A random sample of Texas Realtors members received the survey, with 463 responses. The survey has a margin of error of +/- 4% at the 95% confidence level.

About Texas Realtors

With more than 140,000 members, Texas Realtors represents all facets of real estate in the state, advocating for both Realtors and private property rights.