If you’re thinking about selling your house, you’re probably wondering how much it’s going to cost you. Read on to find out everything you need to know.
It’s important to understand that selling a house costs money. However, you should look at those costs as an investment to sell your home for the best possible price. It’s important to look at the big picture. The costs of selling your home are only a small fraction of what you’ll receive when you sell your home.
There are a range of compulsory and non-compulsory costs to sell a house in Perth or any other parts of WA.
Compulsory home selling costs
Conveyancing is the only truly compulsory home selling cost. However, many other ‘non-compulsory’ costs could be regarded as essential if you want to sell your home for the best possible price.
Conveyancing includes all of the legal aspects of the home selling and buying transaction, including contracts and the transfer of the property and funds between seller and buyer. Conveyancing costs in WA are around $1,000.
Non-compulsory (but usually very worthwhile) home selling costs include:
For example, repairs and maintenance costs. You should spend what you can afford on things that will help you to get a better selling price.
Marketing costs can range from a one or two thousand dollars to several thousand. However, it’s not how much you spend on marketing, it’s how effectively you spend your budget. Marketing costs can include:
– Professional photos for your selling ad and your display signage.
– Copywriting for your ad.
– A professional video and/or 3D interactive tour of your home to be produced.
– The ‘For Sale’ sign for the front of your home.
– Online ads with the most popular real estate websites (like www.realestate.com.au and www.domain.com.au).
– A floor plan of your home.
– Open house brochures/flyers.
– A social media campaign.
If you sell through an agent, you’ll pay commission. On the flip side, you won’t have to pay transfer (stamp) duty. That’s the buyer’s responsibility.
According to the latest research from realestate.com.au, average commission rates in WA are between 1.5% and 3.5% of the selling price of your home. It’s up to you to negotiate the commission rate with the agent or real estate agency that you choose to sell your home.
However, it’s important to understand that you get what you pay for. A good agent will be able to sell your home for the best possible price and to sell it quickly. They should be able to more than pay for any extra commission they may charge.
You may be tempted to think you can sell your home yourself. We’ve all seen those ads on TV or on the web urging you to save yourself real estate commission fees. Here are the reasons why you should choose a good agent to sell your home instead.
For example, do you have the time and expertise to:
– Organise all your own marketing materials?
– Attend your own open houses?
– Negotiate with buyers?
– Prepare a legal contract of sale?
If you don’t, you’ll find selling your home will be difficult. You also won’t get the
best possible price for your home.
Real estate agents negotiate with buyers for a living. They know the sales and
marketing strategies to use to get results. Many home buyers won’t even want
to negotiate directly with a seller, so if you go down that path, some potential
buyers will be turned off your home straight away. That could cost you money
in the long run, so avoiding using an agent to save commission can be a false
The bottom line is that a good agent will pay for themselves by getting you a
higher price than you could get by DIY selling. They’ll also inevitably save you a
lot of time and hassle.
A good agent (or their agency) should have established relationships with professional property photographers, video producers and real estate agency websites. They should therefore be able to get you the best marketing collateral for your home at the best possible price.
At Now Living Realty, we have the best real estate agents Perth has to offer. We’re always on the lookout for properties to sell. We work hard for our sellers to get results.
Contact us today to find out more about selling your home (and buying your new one)!