All the Hidden Costs Sellers Miss
Many homeowners think of listing price minus mortgage = profit. But the real picture includes many costs: realtor commissions, closing costs, prep, taxes, etc. If you don’t account for these, your “profit” might be much less than expected.
Realtor Commission & Brokerage Fees
- The average total real estate commission in Wyoming is ~5.61% of the home’s sale price, combining seller’s agent + buyer’s agent fees.
- Average splits: ~2.79% to listing agent, ~2.82% for buyer’s agent.
- On a median home ($346,000-$370,000), that’s ~$19,400-20,800 in commission alone.
Closing Costs & Additional Fees
- In Wyoming, closing costs for sellers are roughly 2.5-3% of the home sale price, including recording/title fees, buyer concessions, prorated property taxes, etc.
- Title service, title insurance, recording fees, sometimes attorney fees if needed. These vary by county.
Prep, Staging, Repairs, Moving Costs
- To attract good offers, homes often need cleaning, landscaping, paint, staging, minor repairs. These can cost several thousand depending on condition. Home prep can run up to ~$8,500 or more for median homes.
- If moving far, cost of moving, utility switchovers, adapter costs, etc.
Net Proceeds: What Sellers Actually Keep
- After paying commissions, closing costs, mortgage payoff, any outstanding liens, the seller’s net can shrink significantly. Many sellers are surprised to see only 80-85% (or less) of listing price in hand.
- Example: House listed at $360,000. After 5.61% commission (~$20,200), closing costs (~$9,000), prep and repairs (~$5,000), outstanding mortgage (~$100,000 if any), the seller might keep ~$225,000-230,000 depending on their situation.
What Sellers Can Do to Maximize Profit & Reduce Costs
- Shop around for agents. Not all agents charge same commission. Some negotiate lower fees or flat listing fees.
- Time the sale well: peak season often brings more buyers, possibly higher bids.
- Do small high-return home improvements (curb appeal, paint, minor updates) rather than costly full renovations.
- Be transparent with disclosures to avoid surprises (inspections, repairs) later.
- Consider seller incentives that can close the deal faster (covering some buyer closing costs etc.), but balance costs vs speed.
Conclusion
Selling your home in Wyoming can feel straightforward until you see all the fees. But if you plan ahead, budget properly, pick a good agent, and focus on the right improvements, you can reduce losses and make the sale work in your favor. Know these costs before listing to avoid surprises.
