Ways To Save Money When Selling Your Home in Athens

A home sale generates hundreds of thousands of dollars. Even with the high revenues and potential capital gains, everyone wants to maximize profits. While you don’t want to spend money that doesn’t provide a return on investment in the final sale price, don’t hesitate to put the right money into your home. Save money in some places to spend in others. Here are some ways to save money when selling your home in Athens.

For Sale By Owner

The biggest way to save thousands of dollars is to sell your home on your own. A real estate agent can charge up to 6 percent by law. This amount is split between the buyer and seller’s agents. And it all comes out of the seller’s profit.

Doing the math, this adds up. For every $100,000 of the sale price, $6,000 goes towards commission. For a $500,000 home, this is $30,000. That’s a lot of money especially if you are trying to maximize profits to pay down debts and get into a new home.

Selling the home on your own will reduce this fee. You might not be able to eliminate the buyer’ s agent’s commission, but saving $15,000 out of $30,000 is a hefty sum. If you are planning on doing a “for sale by owner,” make sure you understand the state real estate laws and have resources to draw up the transaction contracts. If you don’t, saving on the commission could cost you in legal fees.

Negotiate With Agent

Assume you don’t want to take on selling your home on your own. You do have another option. Agents are able to charge “up to” six percent. That’s right! It’s a cap, not a requirement. Keep in mind that most agents have brokers who take a chunk and marketing costs they front to sell your home so don’t expect them to work for free. But you can often negotiation between a 1-2 percent reduction in agent fees.

One way is if your agent also represents the buyer. Of course, the buyer needs to agree and have complete autonomy to choose who they wish as an agent. But if the stars align and this happens, you can justify the commission reduction because the agent isn’t splitting it with anyone else. Of course, he does more work, so you can’t drop it down to three percent (unless you are super-negotiator), but you can get it down to four often by just asking.

Even if the agent isn’t working for both, start the process of hiring an agent by saying you don’t want to pay the full 6 percent. Most agents will work for five percent max or maybe even less if it’s a hot market and they feel the process will go quickly. That’s $1,000 for every $100,000 in sale price.

Do the Work, But Not All of It

Save money by not doing everything everyone tells you to make the home shine. Pick and choose what makes the home look clean, decluttered and fresh. Do the work yourself where possible. Remove and paint kitchen cabinets and replace the hardware  – it doesn’t need to be expensive new hardware either. Stage the home with your furniture-saving on that cost.

Weed the yard and take the time to do the deep clean yourself to save on hired laborer costs. If there is something that you can’t do, hire someone but only if you know it will yield you more in a sale than it will cost you to do.

Ready to save money when selling your home in Athens? Call us today at 706-426-1082 or send us a message to see what your home could be worth!

Georgui Kassaev

Georgui Kassaev was invited to this country in 1996 during the Atlanta Olympic games. The first place he came to call his home after leaving Russia and performing all over Mexico, was Athens. He became a professional mixed martial arts fighter, then coach, and eventually obtained two black belts in taekwondo and Brazilian jiu-jitsu. He formed a specialty carpentry and construction business which sparked his passion for real estate. He then rediscovered his first passion performing. After all, he has performed in the circus since he was eleven years old in front of thousands of people and then again when he was an adult as a professional fighter. In 2018 he landed his first 3 television roles. While acting, he continued developing his real estate skills, becoming a value-add investor in the Classic City and then getting his real estate license. He has now become a listing specialist in the Greater Athens Area, working with homeowners to protect their interests and get them the right price for their property! However, he never abandoned his construction roots and works with investor clients to help them buy properties based on their numbers with no aversion to making multiple offers. Georgui is fluent in three languages Russian, Spanish, and English. He is proficient in video production and social media marketing.

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