The cost of selling a home: What you need to know

At Extreme Investor Network, we believe in providing you with the most valuable and up-to-date information on personal finance. Today, we’re diving into the costly process of selling a home and how you can save money along the way.

According to a recent report from Clever Real Estate, it typically costs $54,616 to sell a house in 2024. Surprisingly, almost half of surveyed home sellers found their costs to sell were higher than expected. Many sellers focus on the profit they’ll make from the sale, not realizing the significant expenses involved.

The largest expense for sellers is real estate agent commissions, making up about 39% of the total cost. However, with a landmark case involving agent commission fees on the horizon, sellers may soon have more leeway in negotiating these costs. By not paying the buyer’s agent commission, sellers could potentially save around $10,000.

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In addition to agent fees, sellers also incur costs for repairs, closing costs, buyer concessions, moving expenses, marketing, and staging. While it’s important to minimize costs, it’s equally crucial to focus on maximizing the efficiency of the transaction. Negotiating fees, including real estate commissions, can help sellers save money without sacrificing the quality of the sale.

To reduce expenses when selling a home, consider selling without a real estate agent or lowering concessions, staging, and marketing costs. While it may be tempting to cut corners to save money, it’s essential to strike a balance between cost savings and the quality of the transaction.

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Stay tuned for more expert tips and insights on personal finance at Extreme Investor Network. Our goal is to help you navigate the complexities of financial decisions and achieve your investing goals with confidence.

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