Do you know how much it costs to sell your Montreal home? Know what to expect before you advertise your property with a real estate agency, promote it yourself, or deal directly with a buyer. You’ll be surprised how much selling costs can eat into your profits!
Selling your home can be expensive. There are several things you’ll have to pay for, both before and after the sale. If these costs are particularly high, direct sales are a much better idea. In our latest article, we look at the costs associated with the three most popular methods you can use to sell your Montreal home. Take the time to compare them before choosing how to sell your home in Montreal.
The costs of selling with an agent
Agent fees
These fees will vary according to the agent you choose. As a general rule, the amount to be paid to the agents involved in the transaction is around 6% of the sale price. Depending on your agent, you may also have to pay additional fees for administration and marketing services. Make sure you know what’s included and what’s not before signing an agreement with a real estate agent.
Marketing expenses
Whether your agent has included the marketing service in their offer or not, there are a few marketing fees you may personally choose to pay. For example, many sellers hire a professional photographer. Others use a cameraman or even a drone rental company to provide an aerial view of the house. You may also want to promote your ad with a higher visibility package. It would then appear at the top of the page when people are looking for a house in your area.
The cost of renovations
Most homes will need at least a few minor repairs before being advertised by an agent. When a buyer comes along, negotiations will most likely focus on who will take on the renovations identified by the inspection. You can then choose between carrying out some of these renovations yourself or offering a rebate on the sale price of your home.
Cleaning and home staging costs
Most sellers have their homes professionally cleaned
before putting them up for sale. Many people also rent storage space to de-clutter and keep personal items out of sight. Some go so far as to hire a home staging professional to make their home look like the one in the magazines.
Property costs
Advertising your home through a Montreal real estate agent can take a few months. In the meantime, you’ll need to keep up the payments for taxes, Hydro, maintenance (interior and exterior) and mortgage, if applicable. When you add up all these expenses, it can quickly add up to thousands of dollars!
The costs of self-selling
While selling by yourself will save you commissions and agent fees, there are other costs to consider. In addition to some of the costs mentioned above, there are a few other expenses you should anticipate when selling your Montreal home.
High promotional costs
When you advertise your home, you can decide how much you want to invest in the promotion. However, when you sell your home on your own, 100% of the promotion is up to you. You’ll have to pay for everything: online ads, printed material, “for sale” signs and open house fees. You may want to hire a professional photographer to show your home at its best. You may also choose to produce videos or offer virtual tours of your property.
Property preparation costs
Preparing your home for sale can be very demanding. In the same way as if you were selling with an agent, you’ll need to perform certain tasks before running your ads. First, you’ll need to clean the house from top to bottom. You’ll then have to make the necessary repairs, which may increase in number following the inspection. Many buyers also face costs associated with storing their unwanted possessions, as well as hiring a home staging or decorating professional.
Your time
If you decide to sell your property on your own, you’ll have to put in a lot of time. You’ll need to make sure you’re available for visits, create ads, produce promotional material, answer questions, manage paperwork, handle negotiations, and so on.
The costs of selling to a direct buyer
No
If you decide to sell your Montreal home to a buyer 
with Vendre Maison Vite, you’ll avoid all the selling costs mentioned above. There are no selling costs, no repairs to be made, not even closing costs. We’ll buy the house directly from you, as is. That way, you can save thousands of dollars!
