Here are some expenses to plan for if you’re thinking about selling.
Today I’m discussing all the expenses that go into selling your home. Before I do that, I want to talk about what it takes to get buyers to pay the highest price.
Buyers will act much differently when they know they are the only ones looking at your home than they will if they’re competing for it with other buyers. You see, if you hire the wrong agent who has poor marketing and a bad strategy, this won’t necessarily happen. Not only will you pay a commission, but you could also lose up to 10% on the final sale price of your home.
If the wrong agent makes a 10% mistake, and the average sale price in Lafayette is $225,000, that’s $22,500 in lost equity. Tack on another $13,500 for a standard commission, and that’s a $36,000 mistake.
The biggest expense you can have is poor marketing.
Pricing your home incorrectly can be a massive expense when selling your home and possibly the biggest mistake you could make when selling. Think of a slinky walking down the stairs: It never catches up with itself until it finally hits the bottom. I’ve seen homes with up to six price reductions that have cost sellers tens of thousands of dollars.
What expenses should all home sellers know about? Commission, prorated property taxes for your city and parish, as well as title and recording fees. The biggest expense, however, is poor marketing like I mentioned above.
If you have any questions about how we can sell your home with our million-dollar marketing plan no matter the price range, don’t hesitate to reach out via phone or email. I look forward to hearing from you.