Searching for a local agent is the first thing many people do when they consider selling their house. While agents can be an awesome asset when selling your house, it is not the only strategy you should think about. With a little homework, you can sell your house successfully by yourself, saving time and money overall. In our latest blog, we will go over some of the most common costs of a traditional listing, so you can decide if hiring an agent is the best choice for you!
The Pre-Listing Costs
Before putting your home on the market, look at other homes on the MLS. Take note of the asking prices for comparable properties, and more importantly, what they are actually selling for. How does your house compare? Will people choose your house over the one next door? It’s important to look at it from a buyer’s point of view. They want to get the most for their money. For your house to be competitive, you will likely need to make some repairs and upgrades. Over time, buyers lose interest in properties that sit on the market. They will likely believe that something is wrong with the house if it doesn’t sell. To prevent this, start the process with a house that impresses potential buyers and proves to be an excellent value for the price.
Agent Costs
Agents don’t work for free. Many work incredibly hard and deserve every penny you pay them. That having been said, be watchful for those who don’t. While every agreement varies, when you commit to listing with an agent, you also commit to paying their commission, which is usually around 6% of the final sale price. Even if you end up selling the house by yourself to someone you know, you will still owe the agent that amount. In addition, some agents charge for administrative costs, listing fees and sites, marketing, photography, and more. Every agent is different, so make sure you’re aware of everything that’s included in your listing agreement.
At The Closing Table
In addition to paying your agent, you will also have to pay the closing costs on the closing date. This is typically around 2% of the final sale price. The closing costs include things such as appraisal fees, taxes, deed recording, title searches, credit checks, and more. With a direct sale to US Direct Home Buyers, all of these costs are covered for you.
Time Is Of The Essence
Listing your house is a gamble. There’s no guarantee as to how much you will get, or when the sale will close. This makes it difficult to plan ahead and move on with your life. In addition to everything else, you will also have to continue paying the monthly costs for the home, such as insurance, taxes, and utilities. An agent can list your house for any price, but that doesn’t mean you will get it. With a direct sale to US Direct Home Buyers, before you even sign anything, you will know the exact amount you will receive, as well as the closing date. We aim to make the process as clear and as simple as possible.