For many individuals contemplating the sale of their homes, the instinct is often to seek out a local agent right away. While real estate agents can be a valuable resource when it comes to selling your house, relying solely on their services is not the only approach worth considering. With some research and preparation, you can successfully sell your home independently, which can save you both time and money in the long run. In this blog post, we will delve into the typical costs associated with traditional listings, helping you assess whether hiring an agent is the right decision for you!
The Pre-Listing Costs
Before diving into the market, it’s essential to evaluate other homes listed on the MLS. Take the time to investigate the asking prices of comparable properties and, more crucially, what similar homes are actually selling for. How does your property compare? Are there features or qualities that would make potential buyers choose your home over a neighboring listing? To effectively position your home, you need to view it from the buyer’s perspective. They are looking for the best value for their money, which often means you will need to invest in necessary repairs, cosmetic touch-ups, and possibly even upgrades to make your home competitive. Homes that linger on the market can lose their appeal over time, leading buyers to question their value. If a property doesn’t sell promptly, it may give the impression that something is fundamentally wrong with it. Therefore, it’s crucial to present your home in the best light possible, captivating potential buyers from the start and demonstrating its worth as an excellent investment.
Agent Costs
Keep in mind that real estate agents don’t provide their services for free. While many agents work tirelessly and truly deserve every penny they earn, there are others who may not deliver the same level of service. When you agree to list your home with an agent, you also commit to paying their commission, which typically hovers around 6% of the final sale price. You will owe this fee even if you find a buyer independently or through personal connections. Furthermore, some agents may impose additional charges for administrative services, listing fees, marketing expenses, photography, and other related costs. It’s crucial to understand precisely what your listing agreement entails, as the terms and costs can vary significantly from one agent to another.
At The Closing Table
When the closing date finally arrives, you will face not only the agent’s commission but also additional closing costs, which can generally be estimated at about 2% of the final sale price. These closing costs encompass various expenses, including appraisal fees, taxes, deed recording, title searches, credit checks, and more. If you opt for a direct sale to iBuyLehigh, rest assured that all these costs will be taken care of on your behalf, simplifying the process for you.
Time Is Of The Essence
Listing your home can feel like a gamble. There are no guarantees regarding how much you will receive or when the sale will close, which can complicate your plans for the future. You’ll still need to cover ongoing monthly expenses for the property, such as insurance, taxes, and utility bills. An agent may list your home for any price they choose, but that does not guarantee that you will actually receive that amount. In contrast, with a direct sale to iBuyLehigh, you will know the exact amount you will receive as well as the anticipated closing date before signing any documents. Our goal is to make the entire process as straightforward and transparent as possible.