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Costs of Listing With An Agent in COLUMBIA

When selling your COLUMBIA home, don’t rush into signing with an agent until you run some numbers and learn about all of your options. There are many costs of listing with an agent, sometimes a direct sale is a more lucrative choice. Educate yourself on all scenarios before you sign a listing agreement that binds you to an agent!

Here are just a few of the costs you might encounter when listing with an agent:

Commissions – 6%+ of the final sale price

Commission fees are usually paid in full by the seller. The percentage can vary but is typically around 6%. In addition to commissions, agents will often have administrative, agent, and notary fees.

Beyond the commission, agents often charge additional fees to cover various administrative and operational expenses. Administrative fees are levied for processing and handling the paperwork associated with the sale, which includes costs for office supplies, transaction coordination, and other routine administrative tasks. Agents may also charge specific fees for their services, which could include marketing expenses such as listing the property on multiple platforms, professional photography, virtual tours, and advertising. Additionally, there are notary fees involved when documents related to the sale, such as the deed and other legal forms, need to be notarized. These fees ensure that the documents are legally validated and properly executed.

There may also be other incidental costs associated with closing a real estate transaction, including title insurance, escrow fees, and inspection fees. These costs can vary widely depending on the specifics of the transaction and local regulations. It is crucial for sellers to understand all potential costs involved in a real estate transaction and to discuss these with their agent upfront to avoid any surprises. Buyers should also be aware of these fees, as they can influence negotiations and the overall cost of purchasing a property.

Inspections – At least a few hundred dollars

Typically a buyer will pay for the inspection as part of the closing costs, however, as a negotiation tactic, more sellers are picking up this cost themselves. After the inspection is done, repairs that must be made are negotiated between the buyer and the seller. Typically, a buyer will pay for the inspection as part of the closing costs. However, as a negotiation tactic, an increasing number of sellers are opting to cover this cost themselves to make their property more attractive to potential buyers. After the inspection is completed, any necessary repairs identified in the report become a point of negotiation between the buyer and the seller. The buyer may request that the seller address specific issues or provide a credit towards the repair costs, while the seller can either agree to make the repairs, offer a financial concession, or negotiate further to reach a mutually acceptable agreement. This negotiation process is crucial as it ensures that the property is in satisfactory condition and helps to prevent any unexpected expenses for the buyer after the purchase is finalized.

Appraisals – A few hundred dollars

Often times this will be the responsibility of the buyer. If a buyer is working with a lender, the lender will require the house be appraised before the deal is finalized. However, the appraisal cost can be negotiated, and ultimately be paid by the seller.

In some cases, sellers will have appraisals done on their own as a negotiation tactic for a sale. If any appraisal is done on your property, make sure you keep a copy for your records. In certain situations, sellers may choose to have appraisals done on their own as a negotiation tactic to facilitate the sale. This proactive approach can provide potential buyers with confidence in the property’s value and streamline the transaction process. Whether the appraisal is initiated by the buyer or the seller, it is important to keep a copy of the appraisal report for your records. Having this documentation can be useful for future reference and can serve as a valuable resource in case of any disputes or clarifications needed during the sale process.

Cleaning – $0 to a few hundred

When selling your house, it needs to be clean. Like really clean. You should have a deep cleaning done on the house or clean it yourself from top to bottom. Open houses, surprise showings, and people stopping by to see the home will require the house to be clean 24/7. If your schedule is already pretty busy, keeping your home in tip-top shape may require some outside help. The pricing will vary depending on the size of your home and the level of cleaning to be done. You can expect $100 and up per cleaning. If you have a busy schedule, maintaining this level of cleanliness might be challenging, and you may need to seek outside help. Professional cleaning services can ensure your home stays in tip-top shape, providing peace of mind that it will always be ready for viewing. The cost of professional cleaning services varies based on the size of your home and the extent of cleaning required, but you can generally expect to pay $100 and up per cleaning session. This investment can significantly impact potential buyers’ impressions, making it worthwhile to consider.

Staging – $0 to a few hundred

Maybe your home is already decorated with new hand towels, candles, bright colored throw pillows and selectively placed houseplants. If so, good for you! For the rest of us, really giving your home that “straight out of a catalog” charm will take a little work. This doesn’t have to cost a ton, there are some great ways to DIY or find deals at a big box store. No matter what you do, make sure you keep your space tidy and pulled together. If interior decorating isn’t your speed, have a friend help, or consult Pinterest. A few small pieces will bring a room together and make it really feel like a home.

Repairs – Varies

As mentioned above, repairs will need to be negotiated between a buyer and a seller. As a seller, if there are repairs you are aware of, it is best to acknowledge them and let potential buyers know these costs have already been calculated into your asking price. Come to the table with a credit for repairs so the buyer feels secure about purchasing the home. If new repairs come to light after an inspection, these will need to be taken care of and terms agreed to before the sale becomes final.

Start by focusing on small, impactful changes. Adding a few decorative items like stylish throw pillows, elegant candles, or vibrant houseplants can significantly enhance the appeal of your home. Keeping your space tidy and well-organized is equally important, as it helps create a welcoming atmosphere for potential buyers.

If interior decorating isn’t your strong suit, don’t hesitate to seek help. A friend with a good eye for design or a quick consultation on Pinterest can provide plenty of inspiration and practical tips. Remember, a few thoughtfully chosen pieces can bring a room together, making it feel warm and inviting without breaking the bank.

Bills While The Home Is On The Market – Varies (Can be hundreds or even thousands!)

Even if you have moved out of your home while you have it on the market, you will still need to keep the utilities on. When you list, there is no way of knowing how long it will take for your home to sell. It could be months! In addition, you are responsible for the property taxes and homeowners insurance up until the day of closing. If your home sits on the market for any amount of time, (as many do) these bills can add up to a small fortune! Additionally, as the homeowner, you remain responsible for property taxes and homeowners insurance until the day of closing. If your home stays on the market for an extended period (as many do), these expenses can accumulate significantly. Therefore, it is important to budget for these ongoing costs to avoid financial strain. Being prepared for these additional expenses can help you manage your finances more effectively while you wait for your home to sell.

There is an easier way to sell your COLUMBIA home that won’t cost you a dime in commissions or fees! Shoot us a message here, or give our office a call to find out more! 803-670-8355

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