I did a search and nothing came up.
I am selling a house in Florida for about $200,000.
How should l I expect (in general) pay in RE Agent fees and sales fees?
Thanks in advance.
Well selling a home retail is hard these days. You need to price the home right, especially in Fl because of the taxes and ins in most areas.
My feelings are, price your home right. Pay about $350 and get an accurate appraisal if you do not know what it is really worth. You can use this to show buyers the discount.
Say your home is worth 300K and it is not the largest in the area I would price is around 280K and offer 3% concession towards buyers closing cost. Then from there you can work. If approached tell them you need to net 270K so if they want lower price, closing cost credit goes down.
As for commissions if going with a realtor… Get one that advertises in the books you find at Publix…(LOL) If they just list it on the MLS, then skip them and go with a flat rate realtor for $199.00 and then pay a 5% commission. You will see your house move with a commission like that I bet.
In fact, maybe you should try it for 1month if you can. List flat rate for $199 to 299. and offer a commission of 5% and see. Realtors are salepeople… They like to show what makes them the most money as well… The buyers are not looking at listings, the realtors are when someone comes in and says I want to buy in this area…
Otherwise standards is 2-3% to listing agent and 2-3% for selling agent. But I recommend never going under 3% to selling agent. Chances of listing agent to sell is low.
Oh Open houses are very ineffective. About a 10% success rate… they are more for realtors to find buyers while your out of your home for 8hrs.
realtor commission
attorney fees
title insurance (for buyer)
city/county/state transfer tax (some paid by buyer some seller)
freshen-up expense (paint, carpet etc)
fix-up expense (repairs required via buyer inspection report)
other?
I know it seems high, but depends on if you have an agent, pay buyer title, etc. General rule everyone I know uses is 10%. If you come in under, great. Title companies and agents will give you a buyer net sheet to show estimated costs. If you get a cash or conventional loan buyer, costs are less since FHA/VA loans have higher fees.
Closing costs include attorneys fees and all sorts of stuff. Once you know the general fees, you can compare charges.