When it comes to selling your house, it is ideal to get on the market fast, receive a respectful offer, and get out quick with some extra cash in your pockets. Unfortunately, this is not the typical selling process. In fact, the entire real estate transaction can involve multiple agencies debating for months over tiny details that can add up to big fees. In the end, you might even end up with less money than you had at the beginning.
You might ask how this is possible. What fees are involved in selling your house? What is the most profitable way to sell your house fast? Is there an easier option than a real estate agent?
Don’t worry. In this article, we will explain some fees you will encounter when you list your property with a real estate agent. We will also discuss how you can get fast cash for your property!
With that in mind, let’s dive right in.
The Hidden Fees Of A Real Estate Agent
The title of “agent” may sound mysterious, but really, to be an agent is to be a salesperson. It is an agent’s job to find and target buyers for your property and get you an offer. For an agent, your house is a product; they will put your house in the multiple listing services and then use specific marketing techniques to attract buyers.
Unfortunately, this service comes at an often costly fee––and hidden fees at that! These fees could include advertising fees or other various costs related to the sale of your house. For example, real estate agents may require you to pay their brokerage free or for the cost of staging your property.
While this may not seem like a big deal initially, small fees can add up quickly. Some real estate agents could charge you just for the installation of your “For Sale” sign! Here are the most common fees that you will come across:
Generally, agents work on commission. It is reasonable to expect that you will pay them 6% of what your house sells for. In other words, if they do end up selling your house, say, for $200,000, approximately $12,000 will go to them. That’s a lot of dough!
If you’re putting your house on the market but want to sell quickly, you’re going to need to attract potential buyers––and a lot of them. This is where a lot of money can go when you hire a real estate agent. Photographers, stagers, ad agencies… the more the better in the eyes of a real estate agent.
Believe it or not, closing costs are separate from the cost of commission. This fee typically costs up to 3% for the seller. This is what you pay your real estate agent for the paperwork aspect of selling a house: processing the loan, recording fees, title insurance, etc.
While this may seem like a lot to take in, this is still not a complete list of fees you may encounter when going through a real estate agent. Therefore, before you hire an agent, be sure to ask him or her about the fees you will need to pay. This will help you decide whether an agent’s service is worth your time and money.
Why You Should Choose A Real Estate Investor
On the other hand, selling your house with a real estate investor will lead to none of those fees mentioned above! Additionally, if you sell your house to an investor, you don’t have to worry about those pesky taxes. Since investors can provide you with a fast closing date, even as soon as a week (!), those fees will be out of your hands in no time.
Just as with real estate agents, however, there are fees you will want to educate yourself on before jumping in. For example, some real estate investment companies will require you to commit some amount of money into repairing your house. Others, however, will let you sell your house as-is (Hint: Templar Real Estate Enterprises)! If you want to sell fast and get cash offers, a real estate investor is the right path for you.
Sell to Templar Real Estate Enterprises
Are you not interested in paying for the hidden fees of a real estate agent or renovating your house? Are you looking to sell your house as-is, stains, tears and all? Want cash for your house? Do you live in the glorious garden state of New Jersey?
Then sell your house to Templar Real Estate Enterprises! Our New Jersey-based company specializes in buying distressed property quickly for cash. We will provide an honest offer on any property in just 24 hours by staying up to date on the real estate market in New Jersey! Visit our website to get a quick, obligation-free offer from Templar Real Estate Enterprises or call 973-240-8593 today!