How to Lower the Fees and Commissions You Pay on Your Home

July 12, 2022

Most home sales come with fees and commissions – it’s basically part of the deal. However, that’s not to say that there aren’t things you can do to minimize your costs. Here are some quick tips you might be able to use to keep those costs low.

Negotiate Them Down

If you want to try negotiating down an agent’s commission or fees, our location and the norms and expectations of your market will influence how well this strategy might work. Sometimes agents are open to being negotiated with and talked down; sometimes they will have a flat, unchanging rate and they will tell you that straight out. The same may also apply to those you hire to remodel, declutter, deep clean, or otherwise beautify or repair your home in preparation for selling. Try to make sure that your negotiation attempts don’t come across as underhanded or rude, since some people may feel that way.

Do It Yourself

If you’re feeling up to taking on a particular task related to selling your home, go for it! Don’t be afraid to put in the effort and do it yourself. This can apply at basically all levels of selling the house, even including the sale itself. The for-sale-by-owner method doesn’t require a listing agent. While agents generally make things easier and bring some expertise to the table, they do cost a fee. You can also clean the property, repair it, do yard work, and depersonalize and remodel the interior space all on your own. The money this saves you can add up, though the planning and labor involved is considerable.

Look for Alternatives

There are almost always cheaper alternatives to the often-expected agents and brokers. You might try working with a discount broker. Discount brokers promise lower-than-average fees that can be advantageous from a financial standpoint, though usually there is a reason for that. They often work with multiple clients so they can’t give the same personal time and attention to your situation as what you might otherwise get. You can even find companies that can help you get lower fees by connecting you with certain agents that the company has an ongoing business relationship with.

Fees and commissions are a pain. If you’re in a situation where you need a lot of money and you need it quickly, every bit of your liquefied assets can be painful to part with. If you’re savvy about what’s involved in selling your house, you may find cheaper alternatives around every corner.

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