THE COSTS OF SELLING A HOUSE TRADITIONALLY
The Costs of Selling a House Traditionally covers the three most common ways to sell a house – using a real estate agent, using a real estate auction, and selling to a cash buyer company. In general, using a real estate agent will be more expensive than selling by the owner, but there are ways to reduce these costs. Using a real estate auction can be costly, but may be worth it if you want to get your home sold quickly. Selling to a cash buyer is the cheapest option, but may not be available in all areas.
How to Sell Your House and What It’ll Cost You
When it comes time to sell your house, you have a few options as to how you would like to go about it. You can list it with a real estate agent, sell it yourself as a For Sale By Owner (FSBO), use a real estate auction, or sell to an investor who buys houses “as-is” for cash. These ways of selling vary greatly by the cost associated with them. Each of these methods has its own set of pros and cons, and the one that is best for you will depend on your specific situation.
In this blog post, we will discuss the costs associated with each of these methods so that you can make an informed decision about which one is right for you. We will also provide some tips on how to reduce the costs wherever possible. So if you’re thinking about putting your house on the market, be sure to read on!
Selling with a Real Estate Agent
When you list your house with a real estate agent, the cost of doing so will typically fall into two categories: commission and marketing. The commission is the amount of money that you pay to your agent for their services. Marketing is the money that you spend on advertising and other means of attracting buyers to your home.
Commission: When it comes to commission, most agents charge around six percent of the sale price of your home. So if your home sells for $200,000, you would be expected to pay your agent $12,000 in commission. Keep in mind that this number may vary depending on where you live, the size and age of your home, and how long it takes to sell.
Marketing: The marketing costs associated with listing your house with a real estate agent will vary depending on the type of marketing that you choose. Some agents prefer to do a lot of hand-holding and will charge more for their services as a result, while others rely mainly on online listings and advertising. In general, you can expect to spend between $500 and $2000 on marketing, although again this number will vary depending on your situation.
So how much will it cost you to sell your house using a real estate agent? On average, you can expect to pay around $15,000 in commission and marketing expenses.
Reduce the Cost: You can reduce the cost substantially by choosing an agent who charges a lower commission, or by doing some of the advertising yourself, you can save a considerable amount of money.
Selling a House as a For Sale By Owner (FSBO)
When you sell your house as a For Sale By Owner, there are no commission fees to pay. However, you will need to incur the costs of marketing and advertising your home yourself.
Marketing: Marketing a house FSBO can be done in a variety of ways, but it will typically cost more than if you were to use a real estate agent. In general, you can expect to spend between $1000 and $5000 on marketing materials such as yard signs, online listings, and print ads. You may also want to consider hiring a real estate agent or broker to help market your home, which will cost an additional fee but may be worth it in order to get more exposure.
So how much will it cost you to sell your house as a For Sale By Owner? On average, you can expect to pay around $2000 in marketing expenses.
Reduce the Cost: However, there are strategies to help you save money. For example, by choosing listing services that charge less, or by printing advertisements on your home printer.
Using a Real Estate Auction
When you use a real estate auction to sell your house, you will need to pay the costs associated with putting on the auction. These costs can vary depending on the company that you use, but typically include listing fees, advertising fees, and closing costs.
Listing Fees: Most companies charge a listing fee in order to place your home on their auction list. This fee can range from several hundred dollars to several thousand dollars, depending on the company and the level of service that you choose.
Advertising Fees: Advertising fees are what you pay to have your home listed in various online and print catalogs. The cost of this varies widely but is usually around $200-300 per advertisement.
Closing Costs: Closing costs are the fees that you pay to the company in order to have them sell your home. These typically include a listing fee, advertising fee, and commission to the auctioneer. In general, you can expect to pay around $2000-4000 in closing costs.
So how much will it cost you to use a real estate auction to sell your house? On average, you can expect to pay around $4000 in total fees, which includes listing fees, advertising fees, and closing costs.
Reduce the Cost: There are some ways to reduce these costs. For example, by choosing a company that has a lower listing or advertising fees, or by doing some of the advertising yourself, you can save money.
Selling a House to a Cash Buyer Company
When you sell your home to a cash buyer, the process is fast and there are no fees or commissions involved. In fact, most cash buyers will pay all of their own closing costs so that they can be competitive with other investors in your area. So how much does it cost when selling to a cash buyer? Literally nothing! In addition to that a reputable cash buyer like NeedToSell.com offers a range of advantages to their clients:
- No need for house repairs since we buy “as-is”.
- No need to deep clean your house.
- Get a deal fast and sell within one to two weeks.
- Choose the most convenient time to close the deal yourself.
- Get all the money for your house right away!
You can expect for selling your house at the standard market price. The value of your property depends on many factors such as location and condition but is typically close enough if you’re looking at listing prices in similar conditions!
Reduce the Cost: The services of cash buyers like NeedToSell.com are free. Sell without spending any money yourself!
Final Takeout
There are a number of ways of selling your house, each with their own associated costs. In general, using a real estate agent will be more expensive than selling by the owner, but there are ways to reduce these costs. Using a real estate auction can be costly, but may be worth it if you want to get your home sold quickly. Selling to a cash buyer is the cheapest option, but may not be available in all areas. If you are selling your house in Texas, be sure to contactNeedToSell.com and get a good deal for your house!
