Are you trying to sell a house in Wisconsin? The real estate market can be tough, and your home can sit on the market for a while. It’s a difficult predicament when you need to sell your house quickly.
Whether you need to sell your home quickly because you need the money, plan to use the profit of the house sale to buy another home, you’re moving out of town, the upkeep is too much, or for many other reasons, it’s challenging to wait without knowing when your house will finally sell.
You may be wondering how to sell your home in a slow market. While selling your house can depend on many factors, there are some things you can do to help speed up your home sale, generate interest in your property, and hopefully get some offers.
We’ll go through some steps you can take to speed up a home sale in Wisconsin.
What Can Slow Down a Real Estate Market?
In a slow real estate market, your house may not sell as quickly as you had hoped. What Can Slow Down a Real Estate Market? Several factors can affect the real estate market, including demographics, economy, and interest rates.
If people are moving out of your area, more houses may be for sale than interested buyers, making it harder for you to sell your home.
High-interest rates also deter potential home-buyers from taking out a new mortgage, and they might choose not to buy a house at this time.
The economy is the most crucial factor to keep in mind when wondering what slows down the real estate market. When unemployment rates are high and people struggle to put food on the table, they don’t have the money to buy a house.
How to Speed Up Your House Sale
How to sell a house in a slow market? There is no magic solution that will guarantee your house will sell quickly, but these tips for first time home sellers on how to speed up your house sale will give you a much better chance of sealing the deal sooner:
Offer Incentives to Potential Homebuyers
In a slow market, buyers have the upper hand. Draw homebuyers to your house by offering them incentives to buy your house over the others. Some examples of incentives you can offer include:
- Home furnishings – offer to leave the buyers light fixtures, drapes, rugs, or even some furniture, even if you originally planned on moving them to your new home. The cost of you buying a new couch may be worth it to sell your house quicker.
- Appliances – if your appliances are in good or new condition, offer to leave them for the new homeowners. Buyers may be persuaded by the extra savings and hassle of not having to buy a new washer and dryer.
- Home improvements – offer minor home improvements for the buyers before the sale, such as replacing an old door or fixing the creaking stair. Buyers may be more interested in a house that looks to be in move-in-condition than in a house that looks like it needs obvious work.
Accept a Lower Price on Your House
If you’re not receiving any offers on your house, your asking price may be too high. Look at similar homes for sale in your area and set your price in the mid-to-low range to generate more interest.
Just lowering your price can help your house sell quicker. Many online real estate sites will highlight the fact that a house’s list price was lowered, bringing more attention to the house. Some buyers may feel that they are getting a good deal by buying a house that was discounted.
If you need the money from the house sale quickly, it may be worthwhile to even lower your price below the market rate. Selling your house for a lower price, but sooner, may be more beneficial to you, depending on your circumstance.
If a buyer puts in an offer for your house below your list price, don’t discount it immediately. A lower offer is better than no offer, and if you need the money from the house sale, it may make sense for you to sell it, even at a lower rate.
Add Extra Value to Your Property
Small, inexpensive upgrades to your house can increase its value manifold and help speed up your home sale. Some examples of improvements you can make to add more value are:
- Paint – the easiest and low-cost way to update your house is with a fresh coat of paint. New paint instantly gives your house a facelift, making it look nicer with minimal effort and cost. It’s best to stick with neutral colors that will appeal to the majority of prospective buyers.
- Updated kitchen – The kitchen is the heart of the home, and a fresh, clean, updated kitchen can boost your home’s curb appeal. If redoing the entire kitchen isn’t in your budget, you can make small changes that will have a big impact.
Consider painting the cabinets, updating the cabinet pulls to a more modern design, replacing the countertop, or putting in a new backsplash.
- Update the flooring – If you have wood floors, scrape and stain them to give them new life. Consider replacing old, worn-out carpeting or cracked tiles.
- Yard – A well-maintained yard can make all the difference in the curb appeal of your house. It may be worthwhile to invest in some landscaping work to raise the aesthetics and value of your property.
Find Alternative Ways to Raise Awareness of Your Home
If your home isn’t selling quickly using traditional methods, try some creative advertising to get the word out that your home is for sale.
- A real estate agent can help you sell your home quicker than you may be able to do on your own. They may take professional pictures of your home and know how to present it in the best light.
- Post your Wisconsin house sale on your social media accounts and statuses. Encourage followers to spread the word and share your post.
- Create a video tour of your home and post it publicly. Videos generate more interest than standard photos.
- Advertise it in the papers. Create a unique ad and publicize it in the local papers to speed up a home sale.
- Craft a catchy tagline for your house and add it to your email signature with a link to your house’s online listing. Be creative!
Would Selling Your House to a Cash Buyer Make More Sense?
There are advantages to selling your home to a cash buyer – those who can buy a house for cash and don’t need to take out a mortgage.
It’s usually less complicated and a lot quicker to finalize the sale of a house to a cash buyer than to a buyer who needs to take out a loan or a mortgage. With a mortgage, there’s always the risk that the bank may reject a prospective buyer’s mortgage, which means that the house sale may fall through.
A buyer who pays in cash doesn’t need to rely on the bank or other lender to approve the purchase, and it may be a safer and quicker sale.
Wondering how to get a cash buyer to buy my house in Elm Grove? Cash home buyers in Milwaukee will buy your house as it currently is. You don’t have to invest time and money making any upgrades, home improvements, or resort to creative advertising gimmicks to sell your Wisconsin home.
There are many benefits of accepting a cash offer for your home.
Some buyers have the money available and would rather pay for the house outright in cash than deal with monthly payment installments and interest fees. Others may want a quick sale to allow them to update and renovate the property and resell it or rent it out.
If your house has multiple interested buyers, one may offer to pay cash to sway the house in their favor. If you want the house to sell quickly, an offer to pay cash to close on the deal as soon as possible is a very enticing offer.
There are also companies that buy houses in Wisconsin for cash and will accommodate your timeline to close on the deal. A great advantage to selling your home for cash to an established company is knowing that they are a reliable buyer with a respectable reputation and will ensure a smooth sale process.
Selling your house to a cash home buyer may make more sense, depending on your situation.
If you need to sell your house in Wisconsin quickly, you can take steps to speed up the process. Make sure your property is priced competitively, present it advantageously, and be willing to compromise by offering the buyer concessions. Finally, consider selling to a cash buyer to sell the house more quickly.