Do you know how much it costs to sell your house in Memphis? When working with a real estate agent, there can be a large number of costs that home sellers aren’t always aware of. Before signing a listing agreement with a Memphis real estate agent, make sure you are aware of the costs you will likely face!
Many people aren’t prepared for what is required of them when trying to sell a house with a Memphis real estate agent. There are numerous costs, time commitments, and exhausting activities that go into selling your house the traditional way. Below, we will take a look at what it costs to sell your house with an agent in Memphis, versus what it costs to sell your house directly to a professional buyer. You can get an offer from our team so you can plug in the numbers for your property, determine which way of selling your house in Memphis is right for you!
Hiring An Agent In Memphis
When you hire a real estate agent in Memphis to help you sell your house, you’ll be faced with commission costs when the house does eventually sell. These costs can be a huge blow to a seller’s profits as the average commission runs somewhere around 6% of the final sale price. So let’s say you sell your house for $150,000. You’ll have to immediately fork over $9,000k to your agent and that’s not including all of the other costs and fees.
Closing costs include things like transfer taxes, recording fees, and other miscellaneous costs. When you work with an agent to sell your house in Memphis, you can expect to spend about 2% of the final sale price in closing costs. So again, if your house sells for $150.000, you’ll be on the hook for another $3,000. When you sell your house directly to iBuyHousesMemphis.com, we’ll take care of all the closing costs, eliminating many of the fees and expenses that home sellers often face.
Depending on your property, your repair costs can total up to a small fortune. You may find yourself making repairs before you list it, only to have them snowball into major expenses. In many cases, you may find that you have to make even more repairs after the inspection period. Many home buyers will try to negotiate after the inspector has been through, asking you to make the needed repairs, or by issuing a credit or discount on the price of the home.
Many people don’t realize how much it costs to own a home. As a homeowner, you are dealing with things like property taxes, homeowners insurance, and utility bills. The bills can get pretty high if your home is older, and not energy-efficient. You’ll also have to contend with the continued maintenance, repair costs, and the expenses required to keep the house ready for property showings. If your house sits on the MLS for a long time, your holding costs can really add up! But when you sell your house directly to iBuyHousesMemphis.com, we will be able to close on your property, free and clear, in only a matter of days.
Marketing costs when selling your house the traditional way are no joke. Depending on your agent, you may find you are spending a lot of money to market the house on your own. You may need premium listings, professional signage, or photography in order to showcase your property in its best light. Don’t assume that because you hire an agent all of your marketing costs will be covered. Every agent is different and you may wind up spending more than you think to sell your house fast in Memphis.
Selling Your House Directly
On the other hand, selling your house directly to iBuyHousesMemphis.com, won’t cost you a thing. While not every buyer works in the same way, selling your house to our team will free you of any costs or fees. You won’t have to worry about making repairs, cleaning up, or having to wait around for a buyer to come along. There are no commissions, agent fees, or marketing costs. You will be able to sell your house fast in Memphis free and clear, once and for all!
Before you sell your house in Memphis, you need to know exactly what it will cost you. Many home sellers are blindsided by costs and fees they weren’t expecting when they work with a local real estate agent. Before you sign a listing agreement, take a look at what we can do for you. A direct sale may be the solution you need for your house in the Memphis area! However, you won’t know for sure until you get a no-obligation offer from our team!