Do you want to sell your Minneapolis house? Before you hire an agent or sign a listing agreement, make sure you know how much listing will cost you.
Many times, sellers aren’t prepared for the expenses involved with listing a home when hiring a real estate agent in Minneapolis. Agents might make big promises on how much you can list your house for and maybe how much you can profit, but that doesn’t mean they will be able to produce a home buyer who will pay that amount. More assuredly, agents may avoid too much detailabout the cost of listing your house.
We’ve outlined some of the costs you can expect to face when listing your Minneapolis home. For a fast and fair alternative, call Fast Cash Homes MN now for a direct offer! You have an option to sell right away and avoid the costs listed below!
Commissions
Commissions average about 5-6% of the final sale price. If you sell your house for $200,000, that is $12,000 that will immediately be paid to your agent. That doesn’t include any fees that may be charged by your agent. Every realtor works differently, but not all are full-service. Now, some agents bill additionally, on top of their commissions, for marketing and administrative costs.
Repairs
Of course, repair costs vary greatly depending on the house. Almost anyone selling a home needs to do at Some properties require much more work before they are ready for the MLS. Do the arithmetic and estimate how much work you would need to invest in before selling your house. If it’s going to take thousands to get it ready for the MLS, is it worth it?
Upgrades
Keeping up with the Joneses is no joke when your Minneapolis house competes with others on the market. Some homeowners hope adding modern features and remodeling upgrades will bring value when they get ready to sell a home because “everybody does this”. 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.
Cleaning
Most of us like to consider our houses are clean. Generally clean. Before special occasions or company, more thorough cleaning has to be done, right? Preparing a home to be listed, for showing after showing, you will likely need to pay someone to have it professionally cleaned. Prospective homeowners, potential home buyers will be on critical lookout for all things not satisfactory, thinking about lowering the asking price already. Dirt and clutter is 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. Depending on your level of cleanliness, this may or may not involve extra times you must repeat mopping floors, keeping all fixtures shiny and everything in sparkling clean condition. Even if you do most of the cleaning yourself, it still pays to hire someone to do the windows and carpets, perhaps monthly.
Landscaping
Curb appeal is major when listing your Minneapolis house. Clutter should be eliminated and the porch should be warm and inviting. Include estimated costs for improving impressions when agents and buyers visit and evaluate your home include:
- Professional landscaping or DIY planting some brightly colored flowers,
- Add new fixtures such as a mailbox and house numbers
- Many sellers resurface driveways before listing homes for sale
- Sometimes garage doors should be replaced
Cars in the driveway are a subconscious reminder this is not their home. You want them to feel the opposite. You want people to feel at home from the moment they pull into the driveway. Depending on your neighborhood, will making provisions for your vehicles to be elsewhere also be an extra expense?
Staging
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.
Utilities
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. Trending virtual tours of homes online cost at least a couple thousand dollars, without a special connection. Having a top-notch listing, with excellent photos will help you sell your Minneapolis house more quickly.
Adding it up, how much might you have left? Will you get the asking price? Is all of this going to be worth it?