The Real Costs of Selling Your Home in Savannah, GA

Let’s face it—selling a home can quickly become expensive with repairs, closing costs, and commissions piling up. According to a recent survey from Clever Real Estate, homeowners reported spending an average of $54,616 to sell their homes. Surprisingly, 42% of homeowners were caught off guard by these costs.

Despite the hefty expenses, 64% of sellers made a profit, with a median gain of $100,000. From my own experience here in Savannah, many of my clients have enjoyed profits ranging from $X to $X over the past six months.

With a smart strategy, you can maximize your profits and minimize regrets. The study also found that sellers working with a real estate agent walked away with an average of $34,000 more than those who chose to go solo. That’s a pretty strong case for having a professional on your team!

Here’s what we’ll cover:

• The costs associated with selling a home
• Common regrets home sellers face
• How you can avoid these mistakes

The Costs of Selling a Home

Getting top dollar for your home involves various costs. Survey respondents reported paying, on average, for the following:

• Listing agent commission: $11,136
• Buyer's agent commission: $10,467
• Repairs: $10,000
• Closing costs: $8,000
• Concessions: $7,200
• Moving expenses: $3,250
• Marketing: $2,300
• Staging: $2,263

Keep in mind, every transaction is unique—some costs are negotiable (like agent commissions), and some may not apply to your property. Factors like the home’s condition and the local market can also influence these expenses.

Common Regrets of Home Sellers

Regret is a common theme among home sellers, with 89% of survey participants expressing some form of regret, and 92% of those who sold without an agent feeling this way.

The top regrets included:

• Selling too quickly (30%)
• Missing their old home (29%)
• Not selling for enough money (28%)
• Not making enough pre-listing repairs (26%)
• Making too many concessions (26%)
• Failing to stage the home (25%)

Interestingly, many sellers also had regrets about their agent. Half of the respondents felt their agent let them down in some way, underscoring the importance of choosing the right professional.

Here's what they said about their agents:

• Agent's advice was disappointing (57%)
• Agent made listing mistakes (53%)
• Agent didn't communicate enough (50%)

So, how can you avoid these pitfalls?

How to Maximize Your Home Sale

Maximizing your home sale starts with partnering with the right real estate agent. Remember, agents help homeowners get an additional $34,000 on average for their sales. Interviewing at least two agents is crucial to find the best fit. I also suggest meeting with more than one mortgage lender to ensure you get the best deal.

When interviewing agents, consider the following:

• Find a Professional: Look for an agent with deep local market knowledge, strong negotiation skills, and a solid marketing plan.
• Check References and Reviews: Ask for references and read online reviews to ensure the agent has a history of satisfied clients.
• Discuss Your Goals and Expectations: Make sure your agent understands your goals and priorities for the sale. Ask about their communication plan.
• Evaluate Their Marketing Plan: A good agent will have a comprehensive marketing strategy to attract potential buyers, including online listings, social media promotion, and professional photography.
• Understand Commission Structure: Discuss the commission upfront to avoid any surprises later.

Once you’ve found a reliable agent, work with them to identify which repairs or staging efforts will make the biggest impact. They can guide you through the process and advise you on what matters most to buyers.

The Bottom Line

Selling your home involves a series of important decisions. A skilled real estate agent is your partner in this process, and their expertise can make a significant difference in your final profit.

For a free consultation or discovery call to chat about your goals, connect with me here.

Let's make your home selling journey in Savannah as smooth and profitable as possible!