For some, selling their home is the last task they want to deal with. Often, homeowners are not even sure where to start, they just know they need to find a real estate agent and that sounds complicated and confusing to them. Realtors can add value to a sale transaction, there is no doubt about that. However, there are other approaches available when selling your home in Massachusetts.
If you were feeling ambitious and knew enough about the process, you could sell your home on your own as a for sale by owner (FSBO). By selling a home on your own, you save money since you do not have to pay a real estate commission.
Today we are going to go through some of the key factors that go along with selling your home using a real estate agent. That way you can determine if using a real estate agent is the best option for you to sell your home in Massachusetts.
Pre-Listing Steps
Before you list your home for sale, you should research other homes in your area that are for sale and consider these questions:
- What are the listing prices?
- What do they actually sell for?
- How does your home compare to them?
- Is your home comparable when it comes to condition?
It can be difficult, but you should step outside of your home and try to envision from the perspective of a potential buyer. Would you buy this house in its current condition? You may need to do some required repairs or upgrades before listing your home for sale.
You need to ask yourself the questions above and research the local market because you do not want your home to sit for sale for too long. Homes that sit on the market too long lose interest and potential buyers will ask themselves, what is wrong with this property; why is it not selling?
Realtor Costs
When you list your home for sale with a real estate agent, you will pay a commission that is calculated off of the sale price of your home. On average, Realtor commissions are 6%. The seller pays the commission and it is reduced from the sale proceeds upon closing.
Additional Realtor Fees
In some cases, a real estate agent will charge additional fees for the sale transaction. For example, there may be advertising fees, a listing fee or administrative fee. You should do your research when searching for a real estate agent to be sure you know all the costs involved.
Closing Costs
Real estate commission is not the only fee you will be paying upon closing of escrow on your home for sale in Massachusetts. When the sale is finalized, upon average, a seller will pay around 2% in closing costs based off of the final sale price.
Closing Costs Include:
- Title Insurance
- Title Search
- Taxes (Property and Transfer)
- Appraisal Fees
- Courier Fees
- Deed Recording Fees
Need to Sell Quickly?
Listing with a real estate agent does not always guarantee the home will sell or if it will sell in a timely fashion. For sellers who need to move quickly for a variety of reasons, this can really hinder the process of moving on. If your home doesn’t sell as quickly as you need, this can cause some issues in the relationship with the agent.
In addition, as time keeps going by, you are responsible for keeping up on the home and monthly maintenance fees including repairs, taxes and utilities. This can really start to add up.
Sell Direct to a Cash Buyer
When time is not on your side and you need to sell your home quickly in Massachusetts, there are alternative approaches. Selling your home direct for cash can offer huge relief and put money in your hand quickly. In this process there is no need to hire a real estate agent and you can sell a lot faster.
We provide services in a multitude of regions in Massachusetts to homeowners who need or want to sell their homes quickly. Our professional team will help guide you every step of the way. Need to closing fast? No worries, we often present homeowners with no obligation cash offers within 24 hours of viewing their home. We are more than happy to accommodate your schedule as well and close quickly with flexible closing dates. Feel free to reach out to us today to discuss your selling options.