Agents Commissions (approximately 6% of sales price)
The seller customarily pays both the listing agent and buyer’s agent fees. And a qualified Realtor® is absolutely worth the investment. In 2022, agent-assisted sellers sold their homes for a median of $345,000 vs. $225,000 for FSBO sellers. The commission that you are paying them covers their expertise, contacts, knowledge, and marketing.
Staging and Prep (varies)
It’s important to for potential buyers to be able to picture themselves in your home. This means decluttering, deep cleaning, and arranging things to maximize space. You can hire professionals or you can save money by doing it yourself.
Repairs (varies)
Repair costs will vary based on how much you choose to renovate or spruce up. Keep in mind that you likely won’t recoup all of your renovation costs, so talk to your Realtor® about which areas will bring you the greatest return on investment.
Closing Costs (approximately 3% of sales price)
Closing costs may include fees such as Title Fees, Settlement Fees, Transfer Tax, Reconveyance Fees, Recording Fees, Attorney Fees, and Property Taxes. These costs can vary based on the sales price, the state or county where the sale is taking place, and the terms of the mortgage. Your Realtor® can tell you more about the specific costs applicable to your sale.
Seller Concessions (0-6% of sales price)
Sometimes, sellers will add incentives for a buyer such as covering some of the buyer’s closing costs, including furniture, or including an allowance for new flooring. These items should be discussed with your Realtor® and are negotiated in the sales contract.