The costs associated with selling a house can vary, but the single biggest cost is typically agent commissions, which tend to be between 5% and 6% of the sale price. Based on the average home value of $342,941, the national average for total commission is $5,490. Other costs of selling a home include closing costs, which can range from 8% to 10% of the home's sale price, including agent commission (about 6%) and seller fees (about 2% to 4%). Sellers may also be subject to capital gains tax on profits from the sale of their home. However, there are exemptions for the sale of primary residences, and the amount of profit that can be excluded from taxes depends on individual tax circumstances.
To minimize the costs of selling a house without hurting the possibility of sale or offending the real estate agent working for you, there are several strategies you can consider. One approach is to negotiate the commission rate with your agent, as commission rates for real estate agents typically range between 5% and 6%. You can also consider selling your home yourself, which would eliminate the need to pay agent commissions. However, this can be a complex and time-consuming process, and you may still need to pay for the buyer's agent fee if they have one. Another way to minimize costs is to choose a flat-fee MLS service, which allows you to list your home on the MLS (Multiple Listing Service) for a flat fee rather than paying a commission. Finally, you can try to negotiate with the buyer to cover some of the closing costs, although this may not always be possible depending on market conditions.