What First-Time Sellers Need to Know: Real Estate Report for 2024
Selling your home for the first time can feel overwhelming. From pricing it right to preparing for offers, What First-Time Sellers Need to Know: Real Estate Report for 2024 explores emotional, financial, and strategic insights based on recent industry data—and real homeowner experiences.
For those ready to make their next big move, this blog breaks down everything you need to know to avoid costly mistakes, stay confident, and walk away with the best possible outcome.
Emotional Decisions: Why Selling Your First Home Is a Big Deal
Selling a home isn't just a financial move—it’s an emotional leap. In 2024, many first-time sellers are navigating both a cooling market and the weight of personal memories tied to their homes.
According to Opendoor’s 2025 Home Seller Report, 79% of first-time sellers had regrets about their original home purchase. These regrets—ranging from neighborhood dissatisfaction to ignoring renovation needs—are now shaping how these sellers approach their first sale.
Key Emotional Drivers:
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Fear of underselling
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Stress around prepping the home
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Anxiety about dual moves (selling & buying)
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Sentimental attachment
Therefore, understanding your emotional triggers before listing your home can help you stay clear-headed during negotiations and closing.
First-Time Seller Mistakes to Avoid in 2024
Overpricing Based on Emotion, Not Market Value
First-time sellers often believe their home is worth more than it is—especially when they’ve poured years of upgrades or memories into it. However, buyers base value on comps, not your emotional connection.
In other words, pricing your home realistically from day one can lead to faster offers and fewer price cuts down the line. Use tools like Zillow’s Home Value Estimator or work with a local expert to understand current comps.
Neglecting Pre-Sale Preparation
Skipping home prep is another common mistake. In 2024, buyers still expect well-maintained, move-in-ready spaces—especially with limited inventory.
Simple steps like:
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Repainting in neutral tones
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Decluttering spaces
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Enhancing curb appeal
…can increase perceived value and reduce time on the market. Similarly, a pre-inspection can also uncover issues early, giving you time to fix or disclose them without last-minute delays.
Also read: The Importance of Home Upgrades Before Selling
What First-Time Sellers Want in 2024
Simplicity, Certainty, and Speed
Today’s first-time sellers don’t just want a sale—they want a smooth one. According to Opendoor’s research, the top three priorities for sellers in 2024 are:
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Closing quickly
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Avoiding double moves
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Having more control over timing
As a result, solutions like direct cash offers or selling to an iBuyer have become increasingly attractive. Platforms like We Buy Any House As Is offer competitive, no-obligation offers in as little as 24 hours, with no repairs, agent fees, or delays.
First-Time Seller Demographics: Who’s Selling and Why?
Millennials are now not just buyers—they’re sellers. In 2024, they made up the largest group of first-time home sellers, followed by Gen X. Interestingly, a rising number of retirees and relocators are also selling homes for the first time due to late-life purchases in the 2010s.
Top reasons why sellers are listing now:
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Downsizing after remote work flexibility
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Moving to be closer to family
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Desire for different climate or lifestyle
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Upgrading after building equity
Above all, affordability and lifestyle fit continue to drive decisions, with many looking to cash out in high-appreciation areas and move to more affordable cities.
What Surprises First-Time Sellers the Most?
1. How Long the Process Actually Takes
Although many expect a quick close, factors like buyer financing, inspections, and appraisals often stretch timelines. For instance, a conventional sale may take 30-45 days after accepting an offer.
In contrast, cash buyers can close in 7-10 days. For time-sensitive sellers, that speed is priceless.
2. The Number of Hidden Costs
From agent commissions (up to 6%) to closing costs (2-5%), many first-time sellers underestimate the fees involved. And if your home needs repairs or doesn’t pass inspections? Expect to shave off a bit more.
After that, there’s also:
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Title insurance
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Transfer taxes
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Staging expenses
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Seller concessions
It’s essential to factor in these deductions early so you’re not caught off guard at the closing table.
First-Time Home Seller Tips for a Successful 2024 Sale
Leverage Local Expertise
If you're unsure how to price or position your home, partnering with a trusted local expert is crucial. A knowledgeable real estate professional—or a transparent, experienced homebuyer like We Buy Any House As Is—can help streamline the process.
Be Flexible Yet Strategic
Don’t let the first offer rush you into a deal. However, don’t wait too long for an unrealistic price either. Timing is key—so know your bottom line and communicate clearly with potential buyers.
Know Your Alternatives
You don’t have to go the traditional route. Selling as-is, choosing a delayed closing, or even leasing back your home after closing are all tools that can work in your favor.
Explore options here: How to Sell Your House As-Is in Rochester
Case Study: A First-Time Seller in Rochester, NY
Take Sarah, a homeowner in Rochester who bought her first home in 2017. In late 2023, she wanted to sell but worried her dated kitchen would turn buyers away. She also didn’t have time to host showings—her new job started across the country in two weeks.
Rather than list on the MLS, she sold to a local cash home buyer. The process:
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Took 9 days from offer to closing
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Required zero showings or repairs
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Saved her ~$11,000 in agent fees
In conclusion, she left with a strong offer and peace of mind.
First-Time Seller Checklist: Are You Ready to List?
✔ Research your market and recent comps
✔ Estimate net proceeds (after fees & costs)
✔ Decide on repairs or sell as-is
✔ Get pre-approved (if buying another home)
✔ Explore different selling models (MLS, off-market, cash offer)
✔ Choose a timeline that fits your life
Final Thoughts: Selling Your First Home Can Be Empowering
What first-time sellers need to know in 2024 goes far beyond paperwork. This is a moment to reflect, strategize, and grow wealth—even if it feels nerve-wracking at first.
With more resources, selling tools, and buyer demand than ever, you don’t have to do it alone. Whether you’re in Rochester, Syracuse, Buffalo—or beyond—our team at We Buy Any House As Is can guide you through a stress-free, fast home sale with no hidden surprises.