For a lot of homeowners, their first thought when they decide to sell their home is, “Right, what real estate agency should I call?” or “Who should I hire as my agent?”
Agents can be a wonderful asset, representing your home in a professional manner and taking care of all the work so you don’t have to. However, the agent route is not the only strategy you should consider.
By doing a little research first, you can successfully sell your house on your own.
Saving You Time & Money!
In our latest blog post, we will discuss some of the most common costs that you have to cover with a traditional listing to help you figure out whether hiring an agent is the best choice for you!
Before you consider listing your home on the market, take a good look at other homes on the MLS.
What are comparable homes listed for? And more importantly what are they selling for?
- How does your house compare?
- Will people opt for your house over the one next door?
- Does your property have any attractive qualities that other properties lack?
- Or does your house pale in comparison?
You will need to look at your home from the buyer’s point of view. And obviously they want to purchase a property that’s great value for money!
This means you will likely have to make some repairs, touch-ups, and even upgrades to the home in order to be competitive.
Houses that sit on the market will quickly lose interest among buyers. And the longer it stays overlooked, the worse it will get. If the property doesn’t sell, chances are buyers will believe that there’s a decision-altering problem.
Right from the start, you need to wow potential buyers and prove that your house is excellent value for the money.
Agents don’t work for free. And, many reputable agents work incredibly hard and deserve every penny you pay them.
That being said, dishonest individuals exist within every industry.
And while every agreement is different, most agents charge a hefty commission fee (which typically runs about 6% of the final sale price). Regardless of the work your agent puts in, once you’ve signed a contract with them, you owe them that 6% – even if you sell the property on your own to someone you know.
To make matters worse, some agents will charge you for administrative costs, listing fees, marketing expenses, listing sites, photography, and more. Make sure you know exactly what’s included and what’s not in your listing agreement as no two agents are the same.
At The Closing Table
When it’s finally time to close, on top of paying your agent, you usually have to fork out even more cash to cover the closing costs.
This is typically around 2% of the final sale price. Closing costs includes various expenses such as:
- Appraisal fees
- Deed records
- Credit checks
- Title search
- (and more)
This is not the case when you work with us, Sunshine State Buyers. We provide buyers with a direct sale on their house, which means all of these costs are covered for you.
Time Is Of The Essence
When it comes down to it, listing a property is a gamble. There aren’t any guarantees that explicitly say you’ll definitely get X amount or close by this date which can make it difficult to plan ahead and move on with your life.
Plus, you’ll have to keep covering the monthly costs for the home such as insurance, taxes, and utility bills. And, just because an agent can list your house for any amount doesn’t mean that you’ll secure a deal equal to it.