Selling your Montreal home the traditional way involves certain expenses. In our latest article, find out if working with an agent is really the right choice for your situation and your property!
Working with a Montreal real estate agent to sell your home isn’t always worth it. If you consider the costs, time and effort involved, you may find that another sales method would be more suitable for you. Below we list five major costs you should be prepared for if you choose to sell your home the traditional way.
Renovations
If you’re selling your Montreal home, you’ll probably need to make a few repairs. Those few things that need fixing at home can quickly add up to a considerable challenge. And if your home requires major renovations, the costs will obviously be much higher. Once the house is advertised and an offer is finally made, your potential buyer will have to pay to have the property inspected. If everything is in order, it’s perfect! However, it often happens that the buyer comes back with a list of charges for these new repairs, and asks you to credit him or her for the cost of the repairs, or to carry them out yourself, before closing the sale of the property.
Professional cleaning
When you advertise your home on a Montreal real estate sales site, you have to do your best. Even for the cleanest of people, this can mean calling in the services of a professional cleaning team. You may also need to hire professionals to clean carpets, power-wash exteriors or refinish stained ceramic floors. Even if you’re not in a situation where you need to call in a professional cleaning company, you’ll still need to take time out and take care of these tasks yourself. Time itself is very precious.
Marketing expenses
The degree of promotion provided by a Montreal real estate agent varies. Some will provide complete marketing plans free of charge, others will just give you the basics. You’ve probably already seen different types of ads. Some homes are professionally staged and photographed, making the rooms appear larger than they really are. There are also ads with photos taken with a cell phone, showing unmade beds and laundry on the floor. Having polished ads that attract more attention will probably cost you a little more in the long run. If you decide to advertise your home in Montreal, make sure you know exactly what’s included. Between exclusive ads, promotional posters and printed material, you’re likely to incur a number of expenses you hadn’t anticipated.
Commissions
In some cases, working with a real estate agent in Montreal can be very practical, and the 6% commission is well worth it. However, in other cases, paying all that money to sell your home isn’t worth it. Six percent of the final sales price can represent a substantial sum. Make sure your agent will be able to earn you enough money to make this high cost make sense. Do the math before you sign a contract with a Montreal real estate agent. For some Montreal homeowners, a direct sale may be a better option for selling their unwanted home.
Closing costs
The average Montreal home seller will spend between 1% and 3% of the final sale price on closing costs when selling with a real estate agent. Registration fees, title examination fees, inspections and more are all paid at the time of closing. Many of these costs can be eliminated by working with Vendre Maison Vite.
