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This is part two of Ilyce and Sam’s thoughts on the housing market and their home seller resolutions.

Home Seller Resolution No. 6: Understand the lock-in effect (and why it matters)

While inventory is rising, it’s still not back to healthy pre-pandemic levels in many markets. One big reason? About 75% of homeowners with mortgages have rates below 6%— many locked in at 2% to 4% percent from 2020 to 2021. Research shows that for every percentage point below current rates, homeowners are 18.1% less likely to sell.

If you’re sitting on a 3% mortgage, calculate what your new payment would be at today’s 6% rates. Factor in selling costs (8% to 10% of the sale price, when you consider a 5% or 6% commission plus moving expenses). Then ask yourself: Is this move worth it? For many sellers, the answer is yes—life goes on. But go in with eyes open about the true costs.

Home Seller Resolution No. 7: Be prepared to negotiate (and negotiate well)

Gone are the days of “highest and best” deadlines. In 2026, you’re more likely to receive one offer — maybe two — and it might come in below asking price. Don’t take it personally.

Evaluate offers holistically: Is the buyer well-qualified? Pre-approved or just pre-qualified? What’s their earnest money deposit? What contingencies? How flexible is their timeline? Sometimes a lower offer with fewer contingencies and a strong buyer beats a higher offer from a shaky buyer.

Remember, everything is negotiable. If a buyer asks for $10,000 in closing costs but you’ll only go $5,000, counter. If they want you to pay for a warranty, consider a price reduction instead. If you need a longer lead time, ask for it. Find creative ways to meet in the middle.

Home Seller Resolution No. 8: Prepare for longer marketing times

The median days on market has crept up to 70 days nationally, with some homes taking 112 days or longer.

Plan accordingly: Keep your home in showing condition for potentially months, be flexible with showing times (evenings, weekends, short notice), budget for carrying costs (mortgage, utilities, insurance, taxes, homeowner association fees, maintenance), and don’t panic-price-drop after two weeks.

If your home isn’t getting showings, that’s a pricing problem. If it’s getting showings but no offers, that could be condition, pricing, or both. Work with your agent to diagnose and adjust strategically.

Home Seller Resolution No. 9: Be truthful about your disclosures

In a competitive seller’s market, some sellers got away with glossing over issues. In today’s market, that’s a lawsuit waiting to happen.

Buyers are doing their due diligence — hiring inspectors, ordering surveys, checking permits, researching flood zones. If you try to hide problems, they’ll find them, and you’ll either lose the deal or end up in court.

Be up-front about past flooding, foundation issues, roof and HVAC age, permit status for renovations, HOA issues or special assessments, and neighborhood concerns. Full disclosure protects you legally and builds trust with buyers.

Home Seller Resolution No. 10: Understand your true net proceeds

Many sellers focus on the sale price and forget about costs that come out of it. Here’s what you’re typically paying: real estate agent commission (4% to 6%), title insurance and closing costs (1% to 3%), mortgage payoff, prorated property taxes, HOA fees, repairs or concessions, moving costs, real estate taxes that have yet to be paid, and potential capital gains taxes (if profit exceeds $250,000 single/$500,000 married).

On a $400,000 sale, you could pay $32,000 to $40,000 in costs before your mortgage payoff. Your agent (or attorney, if you live in a state where attorneys are used to close residential deals) should provide a seller’s net sheet breaking down all expected costs and giving you a realistic estimate of your proceeds.

Home Seller Resolution No. 11: Stay informed about your local market

National trends are interesting, but your decision should be based on what’s happening in your specific market. Is inventory up or down in your ZIP code? Are homes selling above or below asking? How quickly? What’s the competition at your price point?

Follow local real estate news, check listing sites regularly, attend open houses in your neighborhood, and stay in close communication with your agent. Markets can shift quickly, and being informed helps you make better decisions about pricing, timing, and strategy.

The bottom line

Let’s be clear: The sky isn’t falling for home sellers. But the effortless selling environment of 2021 to 2023 is over. You’ll succeed if you price your home properly, are realistic and don’t get greedy.

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(Ilyce Glink is the author of “100 Questions Every First-Time Home Buyer Should Ask (4th Edition).” She writes the Love, Money + Real Estate Newsletter, available at Glink.Substack.com. Samuel J. Tamkin is a Chicago-based real estate attorney. Contact Ilyce and Sam through her website, ThinkGlink.com.)

©2026 Ilyce R. Glink and Samuel J. Tamkin. Distributed by Tribune Content Agency, LLC.