Are you considering selling your house and hoping to make a profit, but are you aware that selling it might actually result in expenses? We’ll explain the contrasting fees associated with agents and investors to help you understand better.
An agent acts as a sales representative, actively seeking potential buyers for your home. To accomplish this, they will list your property on a listing service and employ various marketing strategies to locate a suitable buyer.
Consequently, you will be responsible for covering certain expenses related to the agent’s services. These typically encompass a commission, which is the most substantial cost and is often around 6% of the property’s sale price (approximately $6,000 for a $100,000 home sale). Additionally, there may be other associated charges such as advertising fees, listing fees, brokerage fees to the agent’s firm, signage fees for your property, or fees associated with the title company, among others. The range of fees can vary, so it’s advisable to inquire with the agent for a comprehensive breakdown of these costs.
This is the aspect that often catches home sellers off guard: in the case of most investors, there are typically minimal or no fees to worry about. Investors usually handle all the costs related to the sale, and there is no commission to be paid since they are not acting as agents and won’t list your property. While you may be accountable for closing costs, this can vary depending on the investor, so it’s crucial to clarify with them who covers these expenses.
The One “Fee” You May Not Be Thinking Of
There’s an additional expense you might not have considered: when you engage with an agent, they may require you to make repairs or improvements to your property, and you’ll also be responsible for ongoing bills and taxes for the duration it takes the agent to locate a buyer. So, while this isn’t a fee directly paid to the agent, it’s a cost that arises due to their involvement. However, when you sell your home to an investor, they purchase it swiftly, saving you from incurring these expenses because they buy your property as-is.
So what’s right for you? It depends on how much you’re willing to pay and how quickly you need to sell.
If you’d like to delve deeper into this topic or ensure there are no fees associated with selling your house to us, please don’t hesitate to reach out, and we’d be delighted to provide you with a thorough explanation.
We’re happy to give you more information about our buying process and to share with you exactly how it all works. Click here and enter your information or pick up the phone and call us at 512-881-0078.
Frequently Asked Question
Maybe you have a few questions. That’s okay; most people do. So here’s a quick question 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: How do you determine the price to offer on my house?
A: Great question, and we’re an open book: Our process is very straightforward. We look at the location of the property, what repairs are needed, the current condition of the property, and values of comparable houses sold in the area recently. We take many pieces of information into consideration… and come up with a fair price that works for us and works for you too.