Considering how high both mortgage rates and home prices have gotten, buying a home is more expensive than ever before. But it’s not just buyers who are hurting in the homebuying process—sellers dole out tens of thousands of dollars on the transaction, too.
Americans report spending nearly $55,000 on home-selling expenses for a median-priced home, and 40% of that figure represents commissions paid to realtors. Other expenses include repairs, improvements, renovations, closing costs, concessions, moving costs, marketing, and signage, according to a report released on Monday by Clever Real Estate, a platform that connects buyers and sellers with real estate agents.
