Master The Game of Selling Real Estate in Salt Lake City
How much do you know about selling your house in the Salt Lake City area? Do you know all the time and cost implications?
Read on to will learn how to avoid unpleasant surprises before you put your house up on the MLS, sell on your own, or work with a direct buyer.
At the end of this article, you may be amazed at how easily these costs can zap your profits!
Selling your Property…
If approached unprofessionally, selling your home can become a very expensive or somewhat unprofitable feat. This is because, oftentimes, there are a good number of pre- and post-sale payments that come into play. And when these costs are particularly high, a direct sale to a buyer such as Property Seller Solutions, will be a far better choice to go with.
Let’s dive into the costs of selling your Salt Lake City property by examining the three most popular methods. You may want to take a cue and compare your options before deciding on selling your house in Salt Lake City!
Costs Incurred When Listing A Property
Depending on the agent you hire, this cost may vary. But the average cost is usually the payment of about 6% (or more) of the final sale price to the agents who helped in brokering the deal. Some agents may even bill you for marketing and administrative services.
In any case, do make sure that you know what’s included in the terms of service before you sign a listing agreement.
You don’t want to completely rule out the possibility of additional pre- or post-sale repairs before (and even after) getting listed on the MLS.
During the inspection by prospective buyers, do expect negotiations or inquiries as to who will be responsible for the repairs. In most cases, you may be left with either of two options – to make some of these repairs or to discount the selling price of your property.
In some cases, there could be some additional marketing expenses that you may incur – whether or not your agent makes the requisition. This could range from the payment for hiring the services of a professional real estate photographer to take pictures of your home, a videographer or a drone service company to capture the aerial views of your property.
And should you decide to upgrade your online listings type to “premium” so it shows at the top of the search result when prospects are browsing through houses in your area – it certainly would cost you some extra bucks.
Cleaning And Staging Costs
Like most homeowners, it is likely that you will like to have your house professionally cleaned before getting it listed.
This may even include hiring a professional stager to help with the removal of your personal belongings and clutter or store away all unnecessary items. And make the house look picture-perfect!
Although these costs are negotiable between the buyer and the seller, the average cost is usually about 2% (more or less) of the final sale price.
Cost Incurred For Continued Ownership
Although this could take months or even years, ownership costs generally refer to the expenses incurred by you for as long as your house is up for listing with a Salt Lake City real estate agent. It includes the payment of utility bills, property taxes, maintenance, landscaping homeowners insurance, and mortgage (if applicable).
Depending on how long your property is on the market, these costs can amount to thousands of dollars!
FSBO (For Sale By Owner) Listing – Cost Implications
In case you have decided to sell your house in the Salt Lake City area on your own to avoid unnecessary commissions and agent costs, there may still be some other costs to consider. They include:
High Marketing Costs
Unlike the cost incurred when listing your house with an agent, you get to decide whether or not you want to include any extra marking at your own discretion. However, when you are selling through an FSBO, 100% of the marketing initiative is on you.
These include open house costs, online listings, as well as payment for printed materials, and signage.
This is, of course, in addition to the cost of hiring a professional real estate photographer to help capture fascinating views of the house; the cost of organizing virtual tours or creating professional videos of your property.
Basic House Preparation Costs
Readying your house for an imminent sale can be a lot of hard work. Just as it is with the listing your property with an agent, FSBO listing may require a lot of prepping before the house is advertised for sale. This includes the thorough cleaning the house to the minutest detail as well as repairs – before and after the inspection process. You may also incur storage costs for all unnecessary items, not to mention the cost of hiring a professional stager or decorator.
The Priceless Cost of Your Time
Selling your property on your own through an FSBO listing can be extremely time-consuming! As you may be required to make both scheduled and unscheduled appearances while creating listings or marketing materials, for showings, to respond to questions and handle negotiations, process paperwork and more!
Costs Incurred When You Sell Directly
NONE – Yes! Absolutely Nothing!!
Selling your Salt Lake City house directly to a reliable buyer such as Property Seller Solutions is the quickest, smartest and most transparent way to avoid all the aforementioned selling costs or inconvenience.
Selling directly to Property Seller Solutions attracts no cost or service fees whatsoever – not even the closing costs! We buy directly, as-is, potentially saving you the stress of spending thousands of dollars while trying to make a sale.