There’s a lot to consider when selling a house, especially the costs involved for sellers and how much to invest in order to get the best sale.

Recently Campbell Cooney, Director of Hodges Bentleigh, was interviewed by realestate.com.au on how much it costs to sell a house.

Campbell broke down the costs involved in selling a home, from conveyancers to styling, and provided tips on how to maximise the use of these costs.

Conveyancing

  • Costs: $800 to $1300
  • Conveyancing is a requirement and to ensure your fees are used efficiently, use a local solicitor as they have better local knowledge and can identify any issues (e.g a special condition)

Marketing

  • Costs: $6500 and $8000 for an average marketing campaign in Melbourne
  • Marketing is important to ensure a property is shown to as many potential buyers as possible
  • While an agent recommends a marketing campaign, the seller covers the cost of marketing a property

Agent’s fees

  • An experienced agent will have specialised knowledge of the specific market and demographic to ensure they get the best possible price for your home
  • There are two types of real estate fees:
    • Flat fee – an agreed fixed fee between the vendor and agent for the sale of the property
    • Percentage of sale fee – the agent gets a certain percentage of the final sale price, which can range from 1% to 3%
  • Bonuses can also be used where the agent and vendor agree on a percentage-based bonus if the property makes above the agreed reserve

Styling

  • While styling is an extra that is not a required cost, it really helps to maximise sale price as it gives people a great first impression of the home
  • The styling of a completely empty home can cost up to $6000. However, other options include free styling advice from agents, fixing up your home or borrowing furniture from friends

Check out the original article: http://www.realestate.com.au/advice/how-much-does-it-cost-to-sell-a-house/

Feature image credit: realestate.com.au