If you decide to move to a new house, you might need to sell your current home first. If so, you might wonder how much it costs to sell a house. The answer is that it varies. You might not have to pay any fees when selling your home, or you might have to pay as much as 7% of the selling price. Here are some methods you can use to sell your house, along with the costs for each.
FSBO stands for "for sale by owner." If you sell your house by owner, you can sell it without paying any fees. The benefit of this is that you can make more money from the sale. The downside is that you must sell it yourself. People who use this method face challenges in most cases. They face challenges trying to find people to view their home. They also struggle with marketing the home. Selling a house FSBO is not always simple, but it is an option you can consider if you want to pay less for commissions.
Real Estate Agent Services
The second option for selling a house is hiring a real estate agent. The benefit of this option is that you will have an expert helping you with the sale. This expert handles every part of the sale, including marketing the home and showing it. The agent also works with you through the negotiation process and closing steps. The downside is that you must pay the agent anywhere from 5% to 7% of the home's selling price for the commission.
Other Options for Selling a House
You can also find other options for selling a house. One of these involves finding a firm that offers 1% listing commissions. Using this option is a mixture between the first two. You must pay a commission, but the commission rate is low. In return, the company markets your house for you. You must handle the other parts of the sale, though.
If you want to pay less when selling your house, you might want to look for an alternative way to sell it. Finding a broker that offers a 1% listing commission is a great option. While you might have to do some of the work yourself, you will save a lot of money. To learn more about this option, consult with a brokerage firm that offers low listing commissions.