When you are ready to sell your house, if you are like most home sellers, your immediate thought is to find a real estate agent to list your home. Unfortunately, the listing process is fraught with expenses that you should keep in mind as you calculate your potential profits on the sale of your house. So read on as we explore four hidden costs of hiring an agent to sell your house in Durham.
Commissions and Fees
While the commission is determined when you sign your listing contract, you don’t feel the impact until you add up the extra fees at the closing table, making it one of the hidden costs of hiring an agent to sell your house in Durham.
If you’re looking to buy or sell real estate and want to avoid working with an agent who collects commission and fees, here are a few options to consider:
- For Sale By Owner (FSBO): When you sell your property by yourself, you avoid paying a commission to a real estate agent. However, you will need to do your own marketing, showings, and negotiations, which can be time-consuming and challenging.
- Flat-Fee MLS: You can use a flat-fee MLS service to list your property on the MLS (Multiple Listing Service) without hiring a full-service real estate agent. This allows your property to be seen by other real estate agents and potential buyers, but you’ll need to handle showings, negotiations, and paperwork on your own.
- Discount Brokers: Some real estate companies offer discount brokerage services, which means they charge a lower commission than traditional agents. You’ll still need to pay a commission, but it will be lower than the standard 6% commission that many agents charge.
- Real Estate Attorney: You can hire a real estate attorney to help you with the legal aspects of buying or selling a property. They can help you with contracts, negotiations, and other legal issues, but they don’t handle the marketing and showings that real estate agents do.
It’s important to keep in mind that working without an agent can be more challenging and time-consuming, especially if you’re not experienced in buying or selling real estate. However, if you’re willing to put in the effort, you can save money on commissions and fees.
Professional buyers like those at Jiffy Offer have the solution. The professional buyers at Jiffy Offer will help you avoid these costs when you sell your house directly because we never charge commissions, and there are no hidden fees.
Professionals
There are several disadvantages of costly home repairs, inspections, and home staging, including:
- Financial burden: The cost of repairs, inspections, and staging can be quite high and can put a significant financial burden on the homeowner. This can be especially challenging if the homeowner is selling their home and needs to pay for these expenses upfront.
- Time-consuming: Home repairs and staging can take a lot of time and effort, which can be challenging for homeowners who are already busy with work and other commitments. Additionally, scheduling and coordinating inspections and repairs can be time-consuming and disruptive.
- Potential for surprises: Inspections can reveal unexpected issues or repairs that need to be addressed, which can add to the cost and time required to sell the home. This can be especially challenging for homeowners who are on a tight timeline.
- Stressful: The process of preparing a home for sale can be stressful and emotionally draining, particularly if the homeowner has a strong emotional attachment to the property.
- Potential for low return on investment: While home repairs and staging can help a home sell more quickly, there is no guarantee that the homeowner will recoup the full cost of these expenses in the sale price of the home. In some cases, the return on investment may be minimal or even negative.
Overall, from the inspection and appraisal to professionals for photography and 360hidden costs of degree drone footage or stagers, you’ll foot the bill for many professionals when hiring an agent to sell your house in Durham. Professional buyers like those at Jiffy Offer save sellers time, money, and hassles because they work with a full-service in-house team of industry specialists. When you sell your house directly to the professional buyers at Jiffy Offer, it includes everything needed to take you to the closing table in days with no closing costs.
Holding Costs
Rarely considered, holding costs are also among the hidden costs of hiring an agent to sell your house in Durham. Real estate agents cannot tell you the day your home will sell or even guarantee it will sell.
House holding costs refer to the ongoing expenses associated with owning and maintaining a property, such as mortgage payments, property taxes, insurance, utilities, repairs, and maintenance. While owning a property can provide many benefits, there are also several disadvantages of house holding costs, including:
- Financial burden: House holding costs can be a significant financial burden, especially for people with limited income or those who have a mortgage with high monthly payments. This can lead to financial stress and may even lead to foreclosure in some cases.
- Difficulty in moving: Homeowners may feel stuck in their homes due to the high costs of selling or renting out the property. This can limit their ability to move to a different location for job opportunities or other reasons.
- Time-consuming: Maintaining a property requires a significant amount of time and effort. Homeowners may need to spend time and money on repairs, maintenance, and upkeep. This can take away from other important activities or hobbies.
- Market fluctuations: The value of a property can fluctuate due to market conditions, which can impact the equity in the home. In some cases, homeowners may find themselves in a situation where their property is worth less than what they owe on their mortgage.
- Liability: Homeowners are responsible for maintaining a safe and secure property for themselves and visitors. This can include taking measures to prevent injuries or accidents, as well as complying with local building codes and regulations. If an accident or injury occurs on the property, the homeowner may be held liable.
On the other hand, professional buyers like those at Jiffy Offer are buyers and because they aren’t worried about moving in, talk to them about selecting the best closing date when you sell your house. The professional buyers at Jiffy Offer can guarantee a closing date.
Repairs
An inspection can reveal significant issues you must address before the sale closes, making repairs another hidden cost of hiring an agent to sell your house in Durham.
Professional buyers like those at Jiffy Offer can save you from spending restless nights worried about passing the inspection. You can avoid the headaches and potentially save thousands in unexpected repair bills because the professional buyers at Jiffy Offer buy homes as-is for cash.
The best way to avoid the hidden costs of hiring an agent to sell your house in Durham is by making a direct sale to professional buyers at Jiffy Offer. The professional buyers at Jiffy Offer will give you all the information you need to make an educated decision about what is best for you; they’ll compare your profits from listing vs. a direct sale, going over the details with complete transparency. There are no commissions or hidden fees, no repairs to worry about, and no holding costs when you sell your house directly to a local professional buyer at Jiffy Offer. The team at Jiffy Offer are your neighbors who live and work alongside you here in Durham, and we care about our community and the people in it; that is why we want you to feel good about working with us long after closing. Talk to a professional buyer today at Jiffy Offer about the best way to sell your house. Call Jiffy Offer at (919) 324-0891.