When people think about selling their homes, the first thing they often consider is hiring an agent. While agents can provide valuable assistance, it’s not the only option. By doing some research, you can sell your home on your own, which could save you time and money. In our latest blog post, we’ll discuss the common costs of hiring an agent to sell your home, so you can decide if it’s the right choice for you!
The Pre-Listing Costs
Before listing your home, it’s crucial to assess similar properties on the MLS. Take note of their asking prices and, more importantly, their actual selling prices. How does your home compare? Will it stand out to buyers compared to neighboring homes? You must view it from a buyer’s perspective, as they seek the best value. This often entails making repairs, updates, and upgrades to compete effectively. Homes that linger on the market lose appeal over time, leading buyers to assume issues with the property. To attract buyers, your home should impress from the start and offer exceptional value.
Agent Costs
When hiring an agent, it’s important to recognize that they don’t work for free. Many agents put in a lot of effort and deserve every dollar of their commission. However, it’s important to be cautious of agents who don’t. When you hire an agent to list your property, you also commit to paying their commission, which is typically around 6% of the final sale price. This payment is owed to the agent even if you end up selling the property yourself to someone you already know. Additionally, some agents may charge for administrative costs, listing fees, marketing, photography, and other services. It’s crucial to fully understand what is included in your listing agreement, as each agent’s terms can vary significantly.
At The Closing Table
Once the closing date approaches, in addition to compensating your agent, you’ll need to cover the closing costs. These costs typically amount to around 2% of the final sale price. They include expenses such as appraisal fees, taxes, deed recording, title search, credit checks, and more. However, if you choose to sell directly to Heartland Funding Inc., you won’t have to worry about these costs. Heartland Funding Inc. covers all of these expenses for you, making the selling process more straightforward and hassle-free compared to hiring an agent.
Time Is Of The Essence
When you consider hiring an agent to list your house, it can feel like a gamble. There are no guarantees regarding the final sale price or when the transaction will close. This uncertainty can make it challenging to plan for the future and move forward with your life. Additionally, you’ll still need to cover monthly expenses like insurance, taxes, and utilities until the sale is finalized. When working with an agent, they can list your house at any price, but that doesn’t guarantee you’ll receive that amount. In contrast, by choosing a direct sale to Heartland Funding Inc., you’ll know the exact amount you’ll receive and the closing date before committing to anything. Our goal is to streamline the process, making it clear and straightforward for you.