Do you think that selling a home is like magic? You put the sign out and the right seller just comes along in a matter of days? In a perfect world that would be amazing, but it’s not reality. There are many factors that go on behind the scenes that many people don’t even realize. Each of these ‘factors’ increases the cost of selling a home in Arkansas.
Are you ready to learn the truth about the cost of selling a home? Check it out below.
The Cost of Time
First, let’s be honest here. Selling a home doesn’t happen overnight. It doesn’t even happen in a week or two in most cases. Homes can sit on the market for a long time, depending on the state of the real estate market. What does time have to do with your costs? It actually has a lot to do with it.
When you still own the home, you still have to pay for it. If you have a mortgage, you’ll still owe your monthly payments. Everyone has to pay insurance and taxes. Plus, there’s the cost of keeping up the home, whether paying for utilities or regular home maintenance and upkeep, it all costs money.
The Cost of Professional Cleaning
Cleaning costs money in two ways. First, you have to keep your home continually clean in case new buyers want to see it. Whether you pay professionals to clean it or you do it yourself, there’s the cost of products and your time.
Many sellers also pay a professional company to clean their home after they sell it, right before handing over the keys. No matter how clean you think your home is, you’ll be surprised at the amount of cleaning that needs to be done once furniture and belongings are out of the home.
The Cost of Storage
If there’s one thing all buyers hate, it’s clutter. If you want your home to sell fast, you need to declutter it. This may mean paying for storage, especially if you have large items that you can’t ‘hide’ in the attic or basement. Getting the bulky stuff out of the way gives buyers a better view of the home’s potential. You want buyers to envision their own belongings in the home, making the house their own, which of course makes them want to buy it.
The Cost of Staging
Some sellers pay a professional to stage their home. This is especially helpful in a buyer’s market when there are numerous choices for buyers to choose from. You need your home to stand out, which may mean paying for professional staging. Stagers know exactly what buyers want to see and they sometimes even supply the trinkets or items that are eye-catching enough to make buyers want to learn more about your house. You can pay a stager to stage one or two rooms – such as the main two rooms of the home or stage your entire house.
The Realtor’s Costs
Finally, there are the realtor’s costs. These are the most expensive. On average, realtors charge between 5% and 6% of the home’s sales price. That’s because they share the commission with the buyer’s realtor. Some realtors also offer more services, adding to the cost.
For example, if you’re in a buyer’s market, you may want to stand out with professional photography or a featured listed on the real estate websites. These cost you more money than the standard realtor’s fees. Sometimes it’s necessary to ‘up your game’ though to get your home noticed faster.
Selling a home in Arkansas isn’t cheap. It’s not as if the costs stop as soon as you list your home – you could pay fees for many months while you wait for your home to sell. Then you have to cover the costs of actually selling the home, such as the realtor fees. If you want to sidestep these costs, consider selling directly to professional cash home buyers. You don’t have to deal with the hassle of waiting for your home to sell and you’ll walk away with more money in your pocket rather than paying third parties.
At 365 Property Buyers, we can help you weigh out your options to help you understand the costs of selling directly to a cash home buyer or listing with a licensed Arkansas Realtor. Get in touch with us today using our contact form or call/text us at (501) 369-0365.