Do you want to sell your Memphis house? Before you hire an agent or sign a listing agreement, make sure you know how much listing will cost you. In our latest post, we outline some of the costs you will incur when listing your house in Memphis .
Many times, sellers aren’t prepared for how much listing will cost when hiring a real estate agent in Memphis . An agent might make big promises on how much you can list your house for, but that doesn’t mean they will be able to follow through. Below are some of the costs you can expect to face when listing your Memphis home. For a fast and fair alternative, call Co-Vest now for a direct offer! You will be able to sell right away and avoid the costs listed below!
Commissions will typically run about 5-6% of the final sale price. So let’s say you sell your house for $200,000. That is $12,000 that will immediately go to your agent. That doesn’t include any fees charged by your agent. Every realtor works differently, but not all are full-service. You might find yourself paying marketing and administrative costs to your agent in addition to their commission.
You repair costs will vary greatly depending on the house. You will likely need to do at least some small things such as paint, repair holes in the walls and any other small repairs. However, some properties require much more work before they are ready for the MLS. If you find yourself spending thousands to get it ready for the MLS, you have to ask yourself… are the repair costs really worth it?
To keep your Memphis house competitive with others on the market, you will likely consider making some upgrades to the home. You don’t need to spend a fortune to make a big impact. New fixtures, carpeting, countertops or flooring can all completely change the feel of the room. To help your property to sell quickly, you will want to make sure you have something to make it stand out from the competition.
Not only do you need to clean your house, but you will likely need to pay someone to have it professionally cleaned. Listing your home is no joke. Dirt and clutter can be very off-putting to people viewing your home. Your home might be in wonderful condition, but if your kitchen walls are dirty, the floors need to be mopped or if it smells like pets, a potential buyer could easily walk away. Even if you do most of the cleaning yourself, it still pays to hire someone to do the windows and carpets.
Curb appeal is a huge factor when listing your Memphis house. There shouldn’t be any clutter laying about, toys should be put away and the porch should be warm and inviting. If the front yard isn’t professionally landscaped, consider doing so. Plant some brightly colored flowers, add new fixtures such as a mailbox and house numbers and whenever possible, park all cars away from the house. When people come to view your house, seeing cars in the driveway will be a subconscious reminder they aren’t at home. You want them to feel the opposite. You want people to feel at home from the moment they pull into the driveway.
Staging can get pretty pricey, but many owners swear by it. Even if you don’t do the whole house, consider doing some of the main rooms. Work with a professional stager or interior designer in your area to achieve the best results.
Even if you are no longer living in the home you will still need to keep the power and water on. People will need to check the lights and have the use of running water when viewing your home.
Marketing, Listing, Photography and Other Miscellaneous Fees
Some agents will require you to pay these costs, while others include them in their commission. Many sellers will hire their own professional photographer to capture photographs of the property. Having a top-notch listing, with excellent photos will help you sell your Memphis house more quickly.