You may think that hiring an agent to list your house on the MLS is the only way to sell. But, a direct sale is becoming more popular. You have options when selling your Raleigh Durham house. Find out what listing your house is really costing you when selling in Raleigh Durham!
To be honest, not every house does well on the MLS. Even in this seller’s market, there is a small percentage of homes that remain unsold. Some properties are dated and require heavy renovations to be competitive with other homes in the area. Also, there is always heavy competition coming from new home builders that offer contemporary floor plans, granite, stainless, free appliances, etc. New home builders are always difficult to compete with.
Some studies have shown, that is costs over $15,000 to sell your house with an agent! Before you choose to hire a Raleigh Durham agent, make sure you understand what it is really costing you to sell your house.
In the Triangle area of North Carolina, agent commissions are typically around 6% of the final sale price. Is it worth it to pay $18,000 in commissions to sell a $300,000 house? It depends on the situation. We use agents to sell our renovation projects, but we are able to get a slightly better rate because of the volume of business we are able to provide.
It is very important to hire the very best agent you can find! Too many feel that simply entering information into the MLS is enough to sell a home–it’s not!
Watch out for hidden fees when you read the listing agreement..notice I said read the listing agreement. Some agents will charge hidden fees such as listing fees, document fees, marketing fees, open house fees, etc. It does cost money to sell a house, but you want to be aware of how much equity you’re giving up to do so. Be diligent and ask questions like
What kind of fees do you charge beyond the commission?
Every agent is different. Before you sign a listing agreement, make sure you are aware of all it covers. Agents should hold up to their end of the deal as well.
It’s recommended that you have your Raleigh Durham house professionally cleaned before putting it on the market. You will need to keep up with the cleaning while the home is listed. It’s amazing how fast dirt accumulates with the increased foot traffic in the house.
Staging & Storage
We always stage our rehab projects when we put them on the market. This service costs about $900 and is well worth it. However, it is much easier to stage an empty house. If you are selling your primary residence you will have to make the best of what you have. This usually means putting a bunch of stuff in storage to “de-clutter.”
Repairs And Upgrades
Depending on the condition of the house, these expenses could be small or end up setting you back thousands. Home inspectors always find something, however small, which leads to further negotiation down the road. Polybutylene piping is a big concern for homes built from the late 70’s to the mid 90’s. The home inspector will find this if it is present and this can lead to an additional $5,000 – $10,000 being spent to fix.
If your house is way out of date compared to other properties on the market, you will want to refresh some things to make it current. You can have a big impact with small improvements such as new flooring, painting, and fixtures. As with the repairs, these costs add up quickly.
Curb appeal is very important as it is the first thing a potential buyer sees when they drive up. Before listing, you might consider reseeding the lawn, planting some flowers along the driveway, or having your trees professionally trimmed. All of this adds to the curb appeal and overall appearance of the house. You’ll need to keep up with it while it is listed by regularly mowing, weeding and sweeping. Depending on your neighborhood and available time, you might hire a professional landscaping company to keep things in order each while the house is on the market.
Like it or not, every day that you continue owning the property, it is costing you money. This is why flippers aim to sell as quickly as possible, they don’t want to hold on to the property longer than they have to.
You will have to pay monthly utilities, taxes, insurance, likely a mortgage and costs for monthly maintenance. When you think of all the little things your house needs over time, the bills can add up pretty quick.
As you can see, the costs to sell a Raleigh Durham house using an agent can add up quickly. Some properties will cost more than other to prepare for the MLS. In order to save time and money, you can choose to sell your Raleigh Durham house to Otranto Real Estate Co – Mike Buys Houses. We will not require any repairs nor charge you any commissions. Before you call an agent, find out what we can do for you!