Selling your home can be expensive, but there are practical ways to cut costs without sacrificing results. The average cost to sell a home in 2024 was $54,616, with agent commissions and unexpected expenses eating into profits.
Here are seven strategies to help you save thousands:
- DIY Staging: Skip professional stagers. Focus on decluttering, cleaning, and refreshing key areas like the kitchen, living room, and primary bedroom.
- Flat-Fee MLS Services: List your property on the MLS for a fixed rate, avoiding traditional agent commission fees.
- Negotiate Agent Fees: Many agents are open to reducing their commission, especially for higher-priced homes or quick sales.
- Prioritize Repairs: Focus on essential fixes and high-ROI updates like fresh paint or minor kitchen improvements. Skip costly renovations.
- Set the Right Price: Avoid overpricing to prevent your home from sitting on the market too long. Use market data and appraisals to price competitively.
- Handle Paperwork Yourself: Manage forms like disclosures and purchase agreements to save on administrative fees. Seek legal help only when necessary.
- Efficient Marketing: Use free or low-cost platforms like social media and flat-fee MLS services to showcase your home effectively.
These tips can help you minimize costs, maximize profits, and streamline the selling process.
1. Stage Your Home Yourself
Hiring a professional stager can be expensive, but tackling the job yourself can be just as effective. According to research, 81% of buyers' agents say staging helps potential buyers picture themselves living in a home, and 44% of agents believe it can even boost the final sales price.
Focus on the Big Three: Kitchen, Living Room, and Primary Bedroom
Start with the areas that buyers care about most. These three rooms tend to receive the most attention during showings:
- Kitchen: Clear off countertops, leaving just one or two neutral accents. Stash away appliances, sponges, and any visible clutter.
- Living Room: Arrange furniture to emphasize the room's size and flow. Avoid overcrowding by temporarily storing extra pieces.
- Primary Bedroom: Keep surfaces like dressers and nightstands clear, leaving only essentials for a clean and streamlined appearance.
Declutter and Depersonalize
One of the simplest ways to prep your home for sale is by removing clutter and personal items. This helps buyers imagine their own belongings in the space. In fact, decluttering alone can increase your home's sale price by 3–5%.
Boost Your Curb Appeal
First impressions matter, and your home's exterior is the first thing buyers will see. In fact, 98% of agents say curb appeal is crucial. Simple updates like power-washing, touching up deck varnish, or repainting the front door can make a big difference.
DIY staging doesn't have to cost a fortune. By focusing on cleanliness, organization, and using what you already own, you can create a welcoming space that appeals to buyers. Plus, it pays off: 48% of seller's agents report that staging helps homes sell faster.
2. Use Flat-Fee MLS Listing Services
Getting your property listed on the MLS (Multiple Listing Service) is crucial for reaching potential buyers. Flat-fee MLS services let you sidestep traditional percentage-based commission costs, giving you more control over the selling process while keeping expenses low.
Traditional real estate agents typically charge about 5.44% in total commission, split roughly into 2.77% for the listing agent and 2.67% for the buyer's agent. For a home priced at the U.S. median of $367,700, these fees can exceed $20,000. Flat-fee MLS services, on the other hand, charge a fixed rate, usually between $99 and $499 for basic plans.
Real Savings for Higher-Priced Homes
The higher your home's value, the more you save. For instance, on a $500,000 home, opting for a $5,000 flat fee instead of a 3% commission could save you around $10,000. Even on a $200,000 property, a flat fee could save you approximately $1,000 compared to traditional commission rates.
What Flat-Fee MLS Services Offer
Flat-fee MLS services cover the basics: your property gets listed on the local MLS, which then feeds into major real estate platforms like Zillow and Realtor.com. This exposure is essential: 88% of sellers use the MLS, and homes listed there tend to sell for about 18% more than those that aren't.
Before committing to this approach, consider whether you have the time and skills to manage the sale yourself. If you're confident in your ability to handle the process, flat-fee MLS services can help you save thousands while keeping your home visible to serious buyers.
3. Negotiate Agent Fees
Did you know that real estate agent commissions are negotiable? Research shows that 64% of sellers manage to reduce fees simply by asking. Yet, a surprising 81% of sellers only contact one agent, missing out on the opportunity to leverage competition.
Understanding the Current Commission Landscape
Typically, real estate commissions range between 5% and 6% of your home's sale price, split between the listing agent and the buyer's agent. However, there's room to negotiate. A survey found that 42% of sellers agree to a 3% fee, while 33% manage to bring it down to 2.5%.
Current market conditions provide a great chance to negotiate commission rates - Trent Seigfried, Data Analyst at Clever Real Estate.
When You Have the Most Leverage
Your ability to negotiate depends on your home's features and the local market. Higher-priced homes often secure lower commission rates because even a smaller percentage can still provide substantial earnings for agents.
How to Approach the Conversation
Timing is everything. Bring up commission rates when you first meet with potential agents. Instead of focusing solely on lowering fees, try to emphasize the value you bring to the table.
If you want to talk with your real estate agent about fees and ask for a discount, do so respectfully with the understanding that at the end of the day, most real estate agents depend on commissions to survive - Jacob Channel, LendingTree Economist.
4. Focus on Necessary Repairs Only
When prepping your home for sale, stick to repairs that matter most. This approach keeps costs in check while making your property more appealing to buyers. Many sellers waste money on updates that don't add value.
High-Impact, Low-Cost Repairs
If you're looking for the most bang for your buck, fresh paint is your go-to. A full exterior paint job, averaging $3,178, can significantly improve your home's curb appeal. To save money, focus on high-visibility areas like the front door or trim.
Smart Upgrades That Pay Off:
- Garage door replacements average a 194% return
- Steel door replacements recover 188% of their cost
- Minor kitchen updates consistently outperform major overhauls
- Pressure washing costs $100-$360 but provides instant improvement
Repairs to Skip
Not every project is worth the investment. For example, major bathroom renovations typically recoup only 45.1% of their cost, while midrange bathroom remodels return 73.7%. Keep in mind that you're preparing your home for sale, not creating your dream home.
5. Set the Right Price from the Start
Getting the price right from the beginning is one of the most important steps when selling your home. Pricing errors can be costly.
Homes that didn't require a price reduction sold for 99% of their original list price and were off the market in just 40 days, on average. On the other hand, properties that went through three price cuts sold for only 88% of the original asking price and lingered on the market for 146 days.
Smart Pricing Strategies
The best way to set a price is by looking at recent sales of comparable homes. A comparative market analysis (CMA) can help guide you, with an error margin of only 5.5 to 6 percent. For an even more accurate valuation, consider hiring a certified appraiser.
Using Technology to Your Advantage
Online valuation tools are a great place to start. For instance, Redfin's estimates have a median error rate of 1.71 percent for homes currently on the market and 6.31 percent for homes that aren't actively listed.
We think of our estimate as the beginning of a conversation, not the end - Glenn Kelman, CEO of Redfin.
6. Complete Paperwork Yourself
If you're taking the DIY route to save costs, handling your own sales paperwork is a natural next step. By managing the paperwork yourself, you can avoid administrative fees.
Documents You Can Manage on Your Own
Some of the essential paperwork includes state-specific property disclosure forms and a purchase agreement that outlines the terms of your sale. Alongside these, you'll need to gather supporting documents like:
- Utility bills
- Property tax records
- HOA agreements
- Building plans and permits
- Receipts and warranties
Knowing When to Seek Professional Help
While you can tackle much of the paperwork yourself, certain situations may require expert advice. Disclosure forms, for instance, can be tricky.
When in doubt over whether to disclose something, it's often better to do so and then negotiate over it than to hide the truth - Ilona Bray, Legal Expert, University of Washington School of Law.
7. Market Your Home Efficiently
Marketing your home effectively can speed up the selling process and help you save on holding costs. Since 92% of buyers start their home search online, leveraging digital platforms is one of the smartest ways to showcase your property.
Leverage Social Media for Free Exposure
Social media offers a massive audience reach at a minimal cost. Did you know that 47% of real estate businesses find their best leads through social media? Platforms like Facebook (used by 87% of Realtors) and Instagram (used by 62%) are particularly effective for showcasing properties.
These days, video is everything. From TikTok to Instagram Reels, utilize this visual medium to really give your clients an inside view into both your world and their possible future home! - National Association of REALTORS®
Master the MLS and Major Listing Sites
Your local multiple listing service (MLS) is a must for gaining visibility. With over 80% of homes sold appearing on an MLS, listing your property here is essential. Opt for flat-fee MLS services that include professional photography to make your listing stand out.
Host Strategic Open Houses
Open houses remain a tried-and-true method for connecting with buyers. 20% of Realtors report closing a sale thanks to an open house. Invite neighbors: they often know people looking to move into the area and can help spread the word.
Cost Comparison Breakdown
Understanding how different strategies impact costs is key to making informed decisions and maximizing your savings.
Agent Commission Comparison
Traditional real estate agents generally charge between 5% and 6% of your home's sale price, with the national average sitting at 5.44%. However, alternative options like discount brokerages or flat-fee MLS services can drastically reduce these costs.
| Home Sale Price | Traditional Agent (5.44%) | Discount Brokerage (1%) | Flat-Fee MLS | Your Savings |
|---|---|---|---|---|
| $300,000 | $16,320 | $3,000 | $95–$995 | $13,320–$16,225 |
| $500,000 | $27,200 | $5,000 | $95–$995 | $22,200–$27,105 |
| $700,000 | $38,080 | $7,000 | $95–$995 | $31,080–$37,985 |
| $1,000,000 | $54,400 | $10,000 | $95–$995 | $44,400–$54,305 |
Switching to a discount brokerage or flat-fee MLS can save you tens of thousands of dollars, depending on your home's sale price.
The Bottom Line
Smart selling strategies can make a massive difference. For example, a $500,000 home seller who opts for a flat-fee MLS service and focuses on essential repairs could save over $20,000 compared to using a traditional agent and undertaking extensive renovations. Strategic improvements can also help avoid the typical 10–20% price reduction that comes with selling a home "as-is".
Key Takeaways
Selling your home doesn't have to leave you with empty pockets. By focusing on key strategies like staging, using a flat-fee MLS, negotiating fees, prioritizing essential repairs, pricing your home correctly, and managing paperwork and marketing efficiently, you can significantly reduce your expenses while securing a strong sale.
Take a closer look at agent fees, as these often make up a large portion of selling costs. Opting for flat-fee MLS services or working with discount brokers can lead to noticeable savings compared to traditional agents.
When it comes to repairs, focus on what's necessary to enhance your home's appeal without going overboard. Simple, cost-effective updates can make a big difference. For example, DIY staging has been shown to increase offers by 1% to 5%, making it a budget-friendly way to add value to your property.
Ultimately, the best approach depends on your specific situation. These strategies give you the tools to minimize costs and maximize your profits.
Frequently Asked Questions
To stage your home without breaking the bank, start with the basics: clean and declutter every room. A tidy, organized space feels more open and inviting. Next, remove personal items like family photos or quirky decorations, allowing buyers to picture themselves in the home.
If your walls could use a refresh, consider applying a coat of neutral paint to make the space feel brighter and more modern. Rearrange furniture to create a sense of flow and openness, and enhance the vibe with affordable accents like throw pillows, rugs, or simple wall art.
Using flat-fee MLS services comes with several advantages for home sellers. For starters, it can save you a significant amount of money in commission fees. Instead of paying a percentage of your home's sale price, you pay a flat upfront fee, which means more of your home
Pick the commission that works for you.
- Set your price
- List on the MLS
- Get on major platforms like Zillow and Realtor.com
- Cancel at any time
