HOW MUCH DOES IT COST
Probably most often asked question by a seller is:
'' How Much Does It Cost to Sell My Home?'' It is not only the most frequently asked question, but it's a crucial one to every homeowner who is coming on the market. After all, every penny counts when you are planning to move and getting ready for one of the largest transactions homeowners experience. That’s precisely how we approach it!
The cost of selling a home is affected by many factors and varies depending on the price the home sells for, but some of the cost can be estimated.
Let’s break it down:
Commission Rate
Commission rates are not a fixed cost and are negotiable between the homeowner and the agent/broker who is listing the home and typically calculated based on the sales price of the property. Average selling commission in Twin Cities for 2019 varies from 2.3 to 4% to the Listing Broker and from 2.5 to 3.5% paid out to a Broker who represents Buyer.
Tip! when you are hiring an agent:
When interviewing an agent, negotiating commission is part of the discussion. If your negotiating skills better than the agent who you are interviewing, you probably want to review if that agent is the right fit for you. One of the most important skills a Realtor must have is negotiation skills.
What is included in a commission (value proposition)?
Does the agent knows how to effectively market a listing using different techniques which target the right buyer and setting the price:
-
Will your property be electronically secured?
-
What kind of marketing will be done?
-
How will the agent use social media for marketing the home?
-
If a newer agent in real estate, do they have a mentor working closely with them?
-
How reachable is the broker in case if you have questions or concerns?
-
How will your property be presented online?
-
What other assistance you may count on to bring property on the market?
The more of those questions answered the more confidence you can have in your agent, knowing that the price you are paying is right!
TO SELL A HOME
Sellers closing fee includes:
-
Broker commission as listed above
-
Closing fees $300-500
-
Conservation fee $ 5
-
State deed tax $340 per $100.000 (0.0034 x sales price)
-
Recording fees $ 100
-
Escrow fee if any
-
Property taxes prorated to date of closing
-
Buyers closing cost if any per contract (3% average)
-
HOA fees if any
-
Attorney fees if any
-
Staging fee if any
To summarize the numbers, you will see that the average cost of selling a home can quickly run up to 10% of the selling price. Ouch! And it does not even count what you need to spend on preparing the house for the market! Didn't plan to spend this much?? Then it’s time to call BLIS.
OUR STATS:
-
95% of our sold are leading market on the price!
-
99% of the listings we prepare for market sell above the asking price.
-
99% sold with no concessions from the sellers, which cut the sellers closing fees dramatically!
Still, have questions? We will be happy to answer!
Before you call, please check out our
Spring Specials for our Listing Packages.
