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On the buyer’s side, price is what goes to the seller. For buyers, cost includes mortgage payments, utility bills, ongoing maintenance expenses, and replacement fees of aging parts of the home (like the roof).
However, the seller’s side is a little bit different. Sellers earn the price from the buyer, but the cost is what they walk away with. The cost to a seller would include bank commissions, inspections, required certifications, taxes, and similar expenses.
Particularly, when you pay an agent a commission, sellers need to weigh both the price and cost. The seller pays the price, but the cost must be considered. For instance, if an agent sells home for 2% more than the average list-to-sale price ratio, they can help you earn 2% more on average from your listing.
If you have any questions about today’s topic or anything else real estate related, please reach out. We’d be happy to address any concerns and answer all of your questions.
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