There are a number of costs to expect with a traditional sale of your Independence home. The sellers on this Independence home sold directly to us to avoid some of the traditional costs. Find out if working with an agent is really the right choice for your situation and property in our latest post!
Working with a real estate agent in Independence to sell your house isn’t always the best option. When you factor in the costs, time, and effort required on your part, you may find that an alternative method of selling is the better choice for you. Below, we list five major costs you should be prepared for if you choose to sell your house in the traditional way.
When selling your house in Independence, it will likely require you to make some repairs. The small things in your house that need touching up can add up fast. And if your house needs major repairs, the costs will obviously grow much higher. Once the house is listed and an offer is eventually made, your potential buyer will pay to have an inspection done for the property. If all checks out, great! However, many times the buyer will come back with newly discovered repair costs they will request that you credit them for the amount of the repair or fix the item yourself before the property closes.
When putting your house on the MLS in Independence, you’ll want to put your best foot forward. Even for the cleanest people out there, this may require the services of a professional cleaning crew to come through. Or maybe you need to hire people to come in and clean the carpets, powerwash the outside, or to rejuvenate stained floor tiles. Even if you aren’t in a situation where you need to hire a professional cleaning company, you will still have to tend to these things yourself which requires your time. That in of itself is very valuable. As you can see in the photo above, when you sell to us, clean is not usually a requirement.
The level of marketing provided by a real estate agent in Independence will vary. While some will provide comprehensive marketing plans at no cost, others will supply just the basics. You’ve seen the different types of listings. Some houses are staged with professional photos to make spaces look larger than they are. Then there are listing with photos taken by a cell phone camera, highlighting unmade beds and laundry on the floor. Having the top-of-the-line listings that will get the most attention will likely cost you a bit more in the long run. If you do decide to list your house in Independence, make sure you know exactly what’s included. Between exclusive listings, signage, and print materials, you could be looking at many expenses you hadn’t planned for. So before you list with an agent, be sure to ask if they have any hidden fees over and above their commission.
In some cases, working with a Independence real estate agent can be great, making their 5 to 8% commission fee well worth it. However, for other properties paying this amount in order to sell your house isn’t worth it. The typical six percent of your final sale price can be a large sum of money. Make sure your agent will be able to get you enough money for this high cost to make sense. Run the number before signing a listing agreement with a Independence real estate agent. For some Independence homeowners, a direct sale can be a better choice for the sale of their unwanted house.
Right now there are several class-action lawsuits against Realtors based on the “standard” commissions they charge. Here in Kansas City, there is no “Standard” commission but we see agents charging anywhere between 3% plus a marketing fee with the do it yourself companies that just put it in MLS and let you do the rest to 8% for the companies that go over and above.
The Cost of Your Time
A home seller in Independence will likely spend 2 or more months getting their home ready to be sold. This can include cleaning it out, making repairs and staging it so it looks it best. Then another month interviewing Agents to pick the best one or worse yet, they just list it with a friend who may or may not be a good agent. Then you can expect to have it on the market for 30, 60, 90 days, it all depends on how well your house shows relative to the price you are asking. Then once you find a buyer, if you find a buyer, you can expect a couple of weeks for the buyer to do inspections and renegotiate based on the buyer’s requested repairs. Then another couple of weeks for the loan approval and if the appraisal comes back short, you may be renegotiating your price or worse looking for a new buyer. All in all, if you are lucky, the traditional route will net you the price you need in about 3 months, if you are typical, you will get a bit less than your asking and take 4 or 5 months or more.
If you chose to go the traditional route, please spend time on the interviewing of the real estate agent. We buy so many houses from sellers who picked the first agent who came along or who was a friend or family, and after 6 months to a year, they didn’t get it sold. They ended up calling us.
When we buy a house you could have your house sold in 10 days to 2 weeks after your initial contact.
For others, we talk to, they turn to a professional Realtor after talking to us, sometimes a referral from us. They take the time and spend the money, to net a higher selling price.
Learn more about the costs to expect with a traditional sale of your Independence house. Contact us today for more information! (816) 408-3600 We can help you decide between a traditional sale with a real estate agent or a fast cash sale to us.
By the way, are you wondering what we do with houses like this? Well, this one we sold to a real estate investor friend who fixed it up. You can see some of the photos of this home all fixed up on Zillow by clicking here.