When selling your Little Rock home, understand that you have options and you are not required to use a real estate agent. There are going to be many financial cost when using an agent and depending on the condition of your home, selling your home directly without an agent may make more sense for you financially!
Here are just a few of the costs you might encounter when listing with an agent:
Commissions – 6%
The average real estate agent commission today is 6%, which is normally paid by the seller. Depending on the final sales price this can eat well into the sellers profits.
Inspections – $100-$200
If you are selling your house on the market then there will most definitely be an inspection done on the home. Traditionally, the buyer pays for the inspection but we have seen sellers doing an inspection and providing that information to all potential buyers to ensure a faster sale.
Cleaning – $0-$200
There is no excuse for selling a house on the market and not having it professionally cleaned. The house needs to be sparkling clean from top to bottom. There are professional cleaning business that can give you a quote on a full clean of your house. You COULD try to do it yourself but, hey, thats your decision 🙂
Staging – $2,000
Staging is one of the more expensive cost to a seller if you are going to use a real estate agent to sell your home. Almost all agents will recommend that you do this, however it is not required. Staging your house has proven to increase the offers that you receive. Staging companies can really make your home look like it is straight out of a magazine. They understand what is in trend and what will catch the eyes of buyers. You can try and do this yourself to save some money but if you decide to go the professional route you will need to spend some money.
Repairs – Depends on what is needed. Can get expensive quickly.
Most buyers will require for any major repairs to be made that were discovered during an inspection. Most contracts will have this as a contingency. If you were to sell your house directly to a house buyer, you could sell the house as-is and not have to worry about repairs.
Holding Cost – $100’s-$1,000’s
While your house is being sold you will still be responsible for the mortgage, utilities, property taxes, and maintenance cost. Depending on how long your house sits on the market these cost can start to add up.