How to Save Money When Selling Your Home

Selling your home can be one of the most significant financial decisions you’ll ever make, and it’s no secret that the process can come with hefty costs. From agent commissions to repairs and marketing, the expenses can quickly add up, cutting into your profits. The good news? With the right strategies, you can save money while still achieving a successful sale. In this blog, we’ll share practical tips to help you keep more of your hard-earned equity, including how hiring a discount real estate agent can significantly reduce your costs without sacrificing quality service.

Hire a Discount Real Estate Agent

One of the most effective ways to save money when selling your home is by working with a discount real estate agent. Unlike traditional agents who typically charge 6% of the sale price in commissions, discount agents offer the same level of expertise for a fraction of the cost. This can save you thousands of dollars while still ensuring your home gets the attention it deserves on the market.

Discount real estate agents, like those at 1 Percent Lists, leverage modern technology and streamlined processes to reduce overhead costs, passing those savings on to you. You’ll still benefit from expert pricing strategies, skilled negotiation, and marketing tools, but without the sticker shock of a traditional agent’s commission.

By hiring a discount real estate agent, you’re not only cutting unnecessary costs but also ensuring your home sells for top dollar. It’s a win-win situation for sellers who want to maximize their profits.

Stage Your Home Strategically

First impressions matter, especially when selling your home. A well-staged home can attract more buyers and potentially sell faster, but that doesn’t mean you need to break the bank. Strategic and cost-effective staging can create the same impact as hiring a professional, saving you money in the process.

Start by decluttering and depersonalizing your space to create a clean and neutral environment. Rearrange furniture to highlight the home’s best features and add small touches like fresh flowers or updated light fixtures for an inviting atmosphere. If you want to go the extra mile, consider borrowing décor items from friends or family rather than buying new ones.

Staging is about showing your home in its best light without overspending. To dive deeper into how to make your home stand out, check out our guide on staging your home for success.

Set the Right Listing Price

Pricing your home correctly from the start is critical to save money in the long run. Overpricing can lead to a property sitting on the market for too long, forcing you to make price reductions and potentially missing out on interested buyers. On the other hand, underpricing might mean leaving money on the table.

To determine the right listing price, work with your real estate agent to conduct a Comparative Market Analysis (CMA). This tool compares your home to similar properties in your area, providing a data-driven approach to pricing. Remember, setting a competitive price can generate more interest and offers, which may lead to a faster sale at or above the asking price.

DIY Repairs and Improvements

Preparing your home for sale doesn’t have to mean expensive renovations. Focusing on cost-effective, do-it-yourself repairs can significantly boost your home’s appeal without draining your wallet. Buyers notice the little things, so addressing minor issues can make a big impact.

Start by tackling simple tasks like patching holes in the walls, repainting in neutral colors, or fixing squeaky doors and leaky faucets. These small updates can make your home feel fresh and well-maintained. For larger projects, like replacing outdated fixtures or landscaping, consider shopping sales or second-hand stores to keep costs down.

The key is to focus on projects that offer the highest return on investment without over-improving for your neighborhood. With some elbow grease and careful planning, you can maximize your home’s value without spending a fortune.

Market Your Home Effectively

Marketing your home doesn’t have to be an expensive endeavor. By leveraging affordable strategies and partnering with the right agent, you can reach a wide audience without overspending. High-quality photos are one of the most impactful tools for attracting buyers, so consider hiring a professional photographer or even using your smartphone with proper lighting and angles.

Social media is another cost-effective way to market your property. Share your listing on platforms like Facebook and Instagram to reach friends, family, and local groups. Many discount real estate agents, such as those at 1 Percent Lists, also provide comprehensive marketing services as part of their reduced-commission packages, giving you the exposure you need without the high price tag.

An effective marketing strategy ensures your home gets noticed and sells quickly, saving you time and money in the long run.

Negotiate Closing Costs

Closing costs can be a significant expense, but with the right approach, you can reduce or share these costs with the buyer. Many buyers are open to negotiations, especially if they’re eager to close the deal. Discuss options with your real estate agent to identify areas where you can save.

For instance, you might offer to cover certain costs in exchange for the buyer shouldering others, such as title insurance or escrow fees. Additionally, shopping around for more affordable title and escrow services can result in significant savings. By taking a proactive approach to negotiating, you can reduce your financial burden and keep more money in your pocket.

Conclusion

Selling your home doesn’t have to come with a high price tag. By hiring a discount real estate agent, staging your home strategically, setting the right listing price, tackling DIY repairs, marketing effectively, and negotiating closing costs, you can significantly reduce your expenses while still achieving a successful sale.

Saving money is all about making smart decisions at every step of the process. With these tips, you’ll be better equipped to maximize your profits and make the most of your home-selling experience.

Jesse Cruz

15:27 30 Apr 24

I just want to say that you Wyant is one of the best agents that I have had the pleasure of working with. He’s very detail orientated. He is very helpful. He goes the extra mile he ensures that you have all the information and knowledge that you need to help, you be successful in the sale of your home and to get everything that you look for in your asking price very humble very kind and respectful gentleman that goes the extra mile. I definitely will always use Drew when I need more assistance with properties thank you for your dedicated work.

Annette Martin

15:43 29 Apr 24

Our experience with Drew was phenomenal. He was respectful, professional, caring, and he went above and beyond. He provides a full service realty experience from beginning to end. You won't go wrong by choosing to work with Drew!

Valdeci Viana

22:33 20 Apr 24

Drew does a fantastic job supporting his customers.I bought one house with his support and sold another one.It couldn’t be better. He overachieved my expectations.Future businesses, for sure he will be my support!

Whitney LaRue

22:10 19 Apr 24

My husband and I were referred to Drew through our realtor in Missouri and we could not have asked for a better person to handle our home selling process. Drew is very professional and would respond quickly to any question we had at any reasonable hour. To top it off he was extremely proactive and actually had a client for our home before we even listed it on the market. Will definitely use again in the future if we need a realtor and will recommend to all friends and family! Thank you again for all your hard work Drew!

Sethu Raghavan

15:57 19 Apr 24

Drew is great to work with and highly recommended. He is genuinely wanting to ensure satisfaction.

Divakar Rajamohan

21:06 13 Feb 24

I am very pleased with Drew’s work as realtor who helped sold my house during challenging time - winter season combined with interest rates being high. Drew was very professional and customer friendly. He was available to answer questions I had all the time and very responsive. I am very happy with how he handled everything right from the beginning suggesting what work needs to be done before putting the house on market to taking care of the repair work from house inspection report after the offer. He made the entire process stress free. I would highly recommend Drew to anyone looking for realtor.

aishwarya g

13:52 17 Jan 24

Drew is an exceptional realtor! Sold our house at a reasonable price in a challenging market with high interest rates. Managed everything from pictures to negotiating offers to inspection and repairs seamlessly. Made the out-of-state process so stress-free for us. Highly recommended for a professional and efficient experience.

matthew streeval

23:28 15 Jan 24

Drew is the best real estate agent we ever had selling or buying a home. He met with us and explained how the process would go step by step. Every time we contacted him he returned our calls, emails, or texts within the same day if not minutes. He is very ethical and kind, we highly recommend anyone buying or selling a house contact Drew Wyant. Joe and Cheryl Streeval

christopher albers

18:45 03 Jan 24

My wife and I met Drew while initially asking to see a home through Zillow. We were blessed and fortunate to have met him and used him as our realtor. Drew showed us many homes and was always available whenever we asked. He gave us his valuable feedback on the homes we viewed and we trusted him as if he was buying a home for his own family. He is very experienced in the Columbus and Nashville areas and also has a a keen eye for the construction and quality of homes in the area. Drew's goal was aligned with ours, helping us find our forever home. He was even willing to show us homes listed as for sale by owner. I highly recommend using Drew as your realtor.