Before committing to a real estate agent to sell your home, take the time to crunch the numbers and explore alternative options. Listing with an agent can come with various expenses, and in some cases, opting for a direct sale might prove to be a more financially rewarding decision. Make sure to familiarize yourself with all potential scenarios before entering into a binding listing agreement with an agent.
Here are just a few of the costs you might encounter when listing with an agent:
Commissions – 6%+ of the final sale price
Sellers typically cover the entire cost of commission fees, which typically hover around 6%, although the percentage may vary. Beyond commissions, additional expenses such as administrative, agent, and notary fees are commonly associated with the services provided by agents.
Inspections – At least a few hundred dollars
Usually, the buyer covers the inspection expenses as part of the closing costs. However, as a strategic negotiation move, an increasing number of sellers are opting to shoulder this cost. Following the inspection, any necessary repairs are typically negotiated between the buyer and the seller.
Appraisals – A few hundred dollars
Frequently, the buyer is tasked with this responsibility. When working with a lender, the buyer is usually required to have the house appraised before finalizing the deal. Nevertheless, the appraisal cost is open to negotiation and may ultimately be covered by the seller.
Occasionally, sellers opt to conduct appraisals independently as a strategic maneuver during negotiations for a sale. If any appraisal is conducted on your property, be sure to retain a copy for your records.
Cleaning – $0 to a few hundred
When putting your house on the market, cleanliness is crucial – it should be exceptionally clean. Consider scheduling a deep cleaning service or meticulously clean it yourself, covering every nook and cranny. Given the potential for open houses, impromptu showings, and visitors dropping by, maintaining a consistently clean home is essential. If your schedule is already hectic, you might need external assistance to keep your home in pristine condition. Cleaning service costs can vary based on your home’s size and the extent of cleaning required, typically ranging from $100 and upward per session.
Staging – $0 to a few hundred
Perhaps your home is already adorned with fresh hand towels, candles, vibrant throw pillows, and strategically placed houseplants. If that’s the case, well done! For the rest of us, achieving that “straight out of a catalog” allure may require a bit of effort. It doesn’t necessarily have to be expensive; there are excellent DIY options or opportunities to find bargains at major retail stores. Regardless of the approach you take, ensure your space is well-organized and harmoniously arranged. If interior decorating isn’t your forte, enlist the help of a friend or seek inspiration on Pinterest. A few thoughtfully chosen pieces can effortlessly tie a room together and truly make it feel like a home.
Repairs – Varies
As previously stated, the resolution of repairs will require negotiation between the buyer and seller. For sellers who are aware of necessary repairs, it’s advisable to acknowledge them upfront and inform potential buyers that these costs have been factored into the asking price. Offering a credit for repairs during negotiations can instill confidence in the buyer regarding the home purchase. In the event that new repairs surface after an inspection, addressing and agreeing upon the terms for these repairs is essential before finalizing the sale.
Bills While The Home Is On The Market – Varies (Can be hundreds or even thousands!)
Even if you’ve vacated your home while it’s on the market, it’s essential to maintain active utility services. The duration of time your home will be on the market is unpredictable, potentially spanning months. Furthermore, you remain responsible for property taxes and homeowners insurance until the closing day. Should your home linger on the market, accumulating these expenses, as many homes often do, can result in a significant financial burden.
There is an easier way to sell your home that won’t cost you a dime in commissions or fees! Shoot us a message here, or give our office a call to find out more! 254-493-2101
Frequently Asked Question
Maybe you have a few questions. That’s okay; most people do. So, are some questions people ask us… along with our answers. If you still have a question, don’t hesitate to contact us (or give us a call) and we’ll be happy to answer it for you.
Q: Do you pay fair prices for properties?
A: Yes, we pay fair market value for the condition of the property. Don’t forget, you wont be paying any real estate fees or have to do any repairs. The large expense for both of those items falls on us. No time or effort or expense is required on your part of fix up the property or pay agent fees. We have to make sound investments to be able to put out a large amount and still be able to make a profit in the end. If that’s what you’re looking for and you see the value in getting your house sold fast… let’s see if we can come to a fair win-win price. (Besides, our no-obligation pricing commitment means that you do not have to move forward with the offer we give… but it’s good to know what we’re offering!)