When you’re ready to sell your house, it’s common to immediately think of hiring a real estate agent to list your home. But what many sellers don’t realize is that there are a variety of hidden costs involved with this traditional method. These costs can eat away at your profits and leave you with less than expected at the closing table. Before you make any decisions, it’s important to understand what you’re getting into. Let’s break down four hidden costs of hiring an agent to sell your house in Chicago and how you can avoid them.
1. Commissions and Fees
One of the biggest, and most obvious, costs of hiring a real estate agent is the commission. Typically, agents charge around 5% to 6% of the final sale price of your home. While this fee is usually agreed upon when you sign the listing contract, it can feel like a bigger hit once you’re at the closing table and see just how much of your profit is going to your agent. This commission fee is often split between the buyer’s agent and the seller’s agent, but that doesn’t make it any easier to swallow when you’re the one paying it.
Because of these hefty commissions, many homeowners try to sell their property on their own, known as a For Sale By Owner (FSBO). Unfortunately, FSBO listings typically sell for much less than homes sold with an agent, so while you may save on commission, you could lose out on the overall sale price.
There’s another option to consider, though. Professional buyers, like those at Cash For Chicago Houses, can help you avoid paying these commissions altogether. When you sell directly to Cash For Chicago Houses, you don’t have to worry about real estate commissions or hidden fees. The offer you get is what you’ll walk away with, no surprises.
2. Paying for Additional Professionals
Many homeowners don’t realize that, in addition to the agent’s commission, you’ll likely have to cover the cost of various professionals needed during the home-selling process. These can include an inspector, appraiser, photographer, and even a professional stager to make your home look its best. If your agent suggests drone footage or a 360-degree virtual tour to attract more buyers, that’s another cost you’ll have to absorb.
These expenses can add up quickly and can become overwhelming if you’re not prepared for them. Each of these services is important to the traditional home-selling process, but they come at a price, and those costs are often left out of initial conversations with your agent.
On the other hand, when you sell to a professional buyer like Cash For Chicago Houses, these costs disappear. Cash For Chicago Houses works with a full-service team that handles everything in-house, meaning you won’t have to pay for any additional professionals. This can save you not only money but also the time and stress of coordinating all these services.
3. Holding Costs
Another hidden cost of hiring an agent to sell your house is the holding costs—expenses that continue to pile up while your home sits on the market. These can include your mortgage payments, property taxes, utilities, insurance, and maintenance. The longer your house stays on the market, the more these holding costs eat into your profits.
Unfortunately, real estate agents can’t guarantee when your house will sell. While they’ll give you their best estimate, there’s no certainty that a buyer will make an offer quickly. Depending on the market, it could take months to find the right buyer, and all that time, you’re still paying to maintain the property.
When you sell to a professional buyer like Cash For Chicago Houses, you can eliminate this uncertainty. Cash For Chicago Houses is able to close quickly—often in a matter of days—so you won’t have to worry about continuing to pay holding costs. You can move on to the next chapter of your life without the financial burden of maintaining two properties.
4. Repairs and Renovations
One of the biggest surprises for many home sellers is the cost of repairs and renovations that are often required after a buyer’s inspection. Even if your house appears to be in good shape, the inspection may reveal hidden issues that need to be addressed before the sale can go through. These repairs can be costly, and if you’re not prepared, they can take a huge chunk out of your profits.
With a direct sale to Cash For Chicago Houses, you can avoid this entirely. Cash For Chicago Houses buys homes as-is, meaning you won’t have to make any repairs or worry about passing an inspection. You won’t lose sleep wondering what hidden problems might derail your sale. Instead, you can rest easy knowing that Cash For Chicago Houses will take the home off your hands, no matter its condition.
Why Sell to Cash For Chicago Houses?
The best way to avoid the hidden costs of hiring an agent to sell your house in Chicago is to make a direct sale to professional buyers like those at Cash For Chicago Houses. Here’s why:
- No Commissions: You don’t have to pay any agent fees or commissions. The price you’re offered is the amount you’ll walk away with.
- No Professional Fees: Cash For Chicago Houses handles everything in-house, so you won’t have to pay for inspectors, appraisers, photographers, or stagers.
- Quick Closings: With Cash For Chicago Houses, you can avoid the uncertainty of holding costs. They can close in a matter of days, meaning you can move on with your life faster.
- No Repairs: Cash For Chicago Houses buys homes as-is, so you won’t have to make any costly repairs or deal with the hassle of an inspection.
At Cash For Chicago Houses, we believe in transparency and helping our community. We’ll give you all the information you need to make an informed decision about selling your house, and we’ll compare the potential profits from a traditional listing versus a direct sale. No hidden fees, no surprises—just a straightforward process that puts you first.
If you’re ready to sell or have any questions, give Cash For Chicago Houses a call at 708-847-7087. We’re here to help you through every step of the process!