For many people, when they think about selling their houses, the first option they consider is to look around for a local agent and sell their house traditionally. Now, this isn’t necessarily a bad thing. Hiring a real estate agent who’ll find a good retail buyer for you on the open market can actually be quite rewarding. However, as the world has progressed and systems have evolved, there are now easier ways to find buyers who’re willing to pay top dollar for your house.
Most real estate professionals know that when it comes to selling houses, whilst agents can be very effective, they also come with a lot of drawbacks that don’t make selling traditionally the easiest home sale option. Real estate agents can cost quite a lot in total once you factor in the listing fees, advertising fees, repair fees, staging fees, and closing costs they’ll require you to pay for. And all that doesn’t even include their agent commission from the sale, which can be a whopping 5-6% of the sales proceeds. In addition to this, agents don’t work fast. They typically require a waiting period of between 3-6 months, which can be too long for you if you’re facing any pressing deadlines due to foreclosure, relocation, divorce, etc. And those aren’t even all the facts about selling your house that an agent won’t tell you.
Below, we are going to expand on this conversation in a little more depth and talk about whether hiring a real estate agent is really worth it or not. We’ll do this by discussing some of the most common costs of a traditional listing, so you can determine if hiring an agent is the best choice for you!
Costs Associated with Hiring an Agent in Saint Paul MN
Read on to discover some of the most common and expensive costs that are associated with hiring an agent in Saint Paul MN.
1. The Pre-Listing Costs When Selling Your House With an Agent
Before you consider putting your home on the market, it’s important to do your own research first and see if listing your house is actually worth it. This can be done by conduction a simple CMA (Comparative Market Analysis). Firstly, take a look at the houses that are currently listed on the MLS within your local area. Look at the asking prices for properties that are comparable to yours and then, more importantly, look at what these comparable properties are actually selling for. This will help you answer the following questions: How does your house stack up? Will people opt for your house over the one next door, and why? What should you set as your asking price?
After all of this research, you will need to look at your house from a buyer’s point of view. For this, it’s important to remember that buyers will want to get the most for their money. This means you will likely have to make some repairs, touch-ups, and even upgrades to your house in order to be competitive. All of this work will need to be done far in advance because houses that sit on the market (typically houses that are in states of disrepair) lose interest among buyers over time. If your property doesn’t sell quickly, people will likely believe there is something wrong with it. As such, you need to come out of the gate with a house that “Wows” potential buyers and that proves to be an excellent value for their money.
2. Real Estate Agent Costs When Selling Your House With an Agent
Agents don’t work for free. In most cases, your agent will work incredibly hard and deserve every penny you pay them. That said, you should be wary of those who won’t. While every agreement is different, when you commit to listing with an agent, you also commit to paying their commission (which typically runs about 6% of the final sale price). You will owe the agent this amount, even if you end up finding your own buyer and selling the property on your own to someone you know, from the moment you sign their contract. In addition, agents are also a very expensive option. Most agents will charge you for administrative costs, listing fees, marketing, listing sites, photography, and more. Make sure you know exactly what’s included in your listing agreement as no two agents are the same. However, if you sell your house directly to FastPath Home Buyers, you won’t have to worry about any added fees or expenses.
3. Closing Costs When Selling Your House With an Agent
Once the closing date comes around, (in addition to paying your agent) you will also have to pay for the closing costs. You can usually estimate this to be approximately 2% of the final sale price. The closing costs include things like appraisal fees, taxes, deed recording, title search, dee recording, credit checks, and more. However, with a direct sale to FastPath Home Buyers, all of these costs are covered for you.
But if you choose to sell your house in Saint Paul MN directly to our company, FastPath Home Buyers, you won’t have to worry about beautifying your house. Or about the numerous other sales commissions and fees that an agent will require you to pay. Instead, we offer prices for houses that are 100% free and cover the costs at closing. We also accept houses in “as-is condition”, meaning in any condition. No Repairs! No Upgrades! You won’t even have to worry about cleaning your house.
Simply call us at (612) 351-2384 or fill out the short form below, and we’ll get back to you with the highest possible All Cash Offer we can give for your house.
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