Stuart Deane, a brokerage owner and real estate professional, is highlighting a critical issue in residential real estate: the financial consequences of ignoring local market knowledge and adequate home preparation. In a recent interview, Deane explained how consumers often make decisions based on broad market headlines and national averages, leading to lost value and unnecessary stress.
According to Deane, real estate decisions are frequently made using big headlines rather than ground-level insights. This gap, he argues, costs people money even in strong markets. The National Association of Realtors reports that 86% of buyers consider working with an agent who understands the local market important or very important, yet many consumers still rely on national price trends when making decisions. Deane believes this disconnect is growing, noting that national statistics fail to explain why one street sells faster than another or what buyers are reacting to in a given month.
Industry data supports Deane's perspective. Homes priced using neighborhood-level data sell up to 17% faster than those priced using regional averages. In competitive markets, this difference can translate to thousands of dollars. Deane also stresses the importance of high-return preparation, pointing out that sellers often overlook simple fixes in favor of large renovations. Studies from Zillow indicate that homes with neutral paint colors and basic cosmetic updates sell for up to $6,500 more on average. The National Association of Realtors found that properly prepared homes sell 18% faster than comparable homes without preparation.
Deane encourages buyers and sellers to slow down and ask better questions, emphasizing that real estate should not feel rushed or confusing. He suggests that consumers protect themselves by focusing on fundamentals rather than noise. For buyers, this includes walking neighborhoods at different times of day, understanding why homes on the same street sell at different prices, tracking days on market, and paying attention to condition rather than staging tricks. For sellers, recommendations include fixing small issues before listing, pricing based on recent nearby sales, focusing on cleanliness and lighting, and monitoring how fast similar homes are selling.
The timing of this message is crucial, as housing affordability remains under pressure and buyer confidence is uneven. Data from ATTOM Data shows that homes sitting longer than 30 days often require price reductions of 5% or more, even in balanced markets. Deane believes better education and preparation can reduce these losses, framing the issue as a matter of respect for people's time and money. He advocates for observing local market activity, tracking real sales data, and preparing homes with intention before making any move. According to Deane, this knowledge is both free and powerful, offering a pathway to more confident and financially sound real estate decisions.
