Not so long ago, if you wanted to sell your Wisconsin home, you’d call a local realtor. Thanks to advances in technology and the ever-evolving state of the real estate market in Milwaukee, sellers now have a range of options. You can choose to stick with the traditional method of using an agent or try out a newer way like iBuyers or selling to cash home buyers in Milwaukee, which promise to save you time, money, or hassle- or all three.
Each method of selling your house comes with its pros and cons and may require some alternative ways to help your listing stand out from the crowd. Below we’ll explain your options and ways to sell your Milwaukee home, that way, you can make the best choice for yourself and your family.
Why People Look for Alternative Ways to Sell Their House
Selling a house, in general, isn’t easy, even if the housing market is hot in your area. So it’s no surprise why people look for alternative ways to sell their houses. Some common reasons we’ve come across for people to look at different ways to sell a house would include:
- If they need to relocate quickly
- If they need to sell fast for financial reasons
- If their home needs a lot of repairs
- If they’d like to save money on realtor commissions
- If they need to sell during a slower time of year for real estate
- If they’d like to avoid months of uncertainty waiting for their house to sell
- If they’re selling a house with unique issues (hoarder house, liens, code violations, probate, unfinished construction).
In general, most Milwaukee sellers would like to avoid waiting the average 44 days on market to receive an offer and the typical 30-60 day closing period.
So for several reasons looking for alternative ways to sell a house could be helpful, less costly, and result in a faster home sale. And who doesn’t like that?
The Best Ways to Sell Your House
The good news when it comes to selling a house is you do have several options. However, it will be up to you to decide which one best aligns with your goals and expectations. Below we’ve narrowed down some of the best ways to sell your house in Wisconsin so you can choose which one is right for you and what you’re trying to achieve.
Selling a House As Is
Whether you own a damaged house, a fixer-upper, or vacant inherited property, to sell will require at the minimum making repairs and maximum making updates if you’re hoping to make a profit. But to do the work will require time and money. For most people, investing in a property that may not produce an even return is risky. Plus, it could take months to complete the necessary improvements.
Maybe your situation looks like this, you own a home that has some delayed maintenance. It will probably take you a few weeks to touch up the paint, make some minor repairs, clean the carpets, and do some much-needed yard work. Finally, after giving up every weekend for the last month to work on things, you’re officially ready to list. Now you sit and wait for an offer to come in and hope that the home inspection doesn’t show any issues that will require you to renegotiate on price or provide a seller credit.
Wouldn’t it be easier if you could sell your house as-is? Then you could avoid all the headaches of making repairs and worrying if you’ll make your money back on improvements. Well, you can! One of the best ways to sell a house that requires repairs is to sell it as-is. Not only will you be able to list your home quicker, but you also won’t need to pay anything towards renovations. And better yet, the buyer will understand that they will be purchasing the house in its current condition since you’re selling as-is. That means no seller credits- take it or leave it.
But is there a downside to selling a house as-is?
The two cons that you’ll need to be aware of are:
- The pool of potential buyers will be smaller with an as-is home sale
- You won’t be able to list your house for top dollar
Most people aren’t looking for fixer-uppers for the same reasons why you don’t want to make the repairs: time and money. But the good news is, there are buyers out there who purchase houses as-is and may already have a team in place to handle the work. We’ll explain who these buyers are later on.
However, this is where the second downside comes into play. Whether you decide to do the work or the next homeowner, it will cost something. A buyer will more than likely want to see those expenses they’ll need to cover reflected in the price. Although that will mean you probably get less for your house, no time, effort, or expense is required on your part to fix up the property. So these two cons could prove not to be an issue if you find an as-is home buyer and see that selling at a reduced price means you get to avoid all the headaches.
Using a Realtor
Another tried-and-true option is to hire a real estate agent to list your Milwaukee home. Using a realtor is a good option if you don’t feel comfortable selling a house by yourself. As long as you hire a full-service agent, you’ll have a majority of the selling process covered by your realtor. An agent will assist you in:
- Setting a competitive listing price
- Marketing and advertising your property
- Hiring a photographer
- Talking to buyers and their agents
- Hosting open houses
- Showing the property to interested buyers
- Negotiating on your behalf
- Paperwork and buyers contracts
- Coordinating the closing
- Answering phones calls and emails
To work with a listing agent isn’t free, they traditionally charge a commission, and so does the buyer’s agent. The homeowner pays these commissions. For a seller to hire a listing agent, the commission is negotiated as part of the listing agreement. The average commission rate in Wisconsin ranges from 2.5% to 3.6% of the sale price.
Also, the seller agrees to a commission rate for the agent who brings the buyer to the table, which runs between 2% to 6%.
|Average Range in Wisconsin*||Average Amount*|
|Listing Commission||2.5% to 3.6%||$5,650 to $8,140|
|Buyer’s Agent’s Commission||2% to 6%||$4,520 to $13,562|
|Total Commissions Owed:||4.5% to 9.6%||$10,170- $21,702|
*Based on the average commission rates in Wisconsin
*Based on the median home value in Wisconsin (Zillow.com, June 2021)
Something else to consider- Whether you think you’re doing yourself a favor by hiring the top real estate agent in your area or a friend of a friend that sells houses on the side, hiring a realtor doesn’t guarantee a fast home sale. Plus, you’ll still need to do your part to have the place presentable to potential buyers, including making repairs, cleaning, decluttering, staging, and adding curb appeal.
Although it’s reassuring to have a real estate professional working on your behalf, that doesn’t go without saying that realtor fees are expensive, and you’ll still have to be involved with the process (repairs, cleaning, etc.). Not to mention you might need to be prepared to wait a while for your agent to produce a buyer.
Related Article: 5 Things Homeowners Should Know About Working With A Real Estate Agent in Glendale WI
Selling to a House Flipper
If you haven’t entertained the idea of selling to a house flipper, that’s another way you could successfully sell your Milwaukee home. House flipping has become quite popular thanks to HGTV shows, but usually, you only see how the process plays out from the house flipper’s perspective. Generally, to sell to a house flipper, your home needs some renovations or major repairs. A house flipper is looking for a property that they can purchase below market value. Then, make some repairs that will ultimately increase its worth to resell the place for a profit.
Frankly, some sellers don’t like this concept and may feel slightly taken advantage of, which is one way to look at it. However, another way to look at it is you’re able to sell your house as-is, and the home will be restored for another family to enjoy. So when accessing the best ways to sell your house, you may not want to rule this option out altogether.
Selling to a Cash Homebuyer
To round out our list of ways to sell your house, we saved the best for last- selling to a cash home buyer. Working with a cash home buyer provides several advantages like:
- A fast cash offer
- No repairs, improvements, cleaning, or staging
- No commissions
- Fast closings on your timeline
By accepting a cash offer for your house, you’ll be able to sell it as-is, not have to hire an agent or deal with the headache and stress of waiting for your home to sell.
So to explain, you would contact one of the companies that buy houses in Glendale or Fox Point or wherever you live and request a cash offer for your house. The home buyer will then reach out to you to get more information and schedule a time to come see your home either in-person or by video. After that visit, the home buyer will present you with a cash offer within 24-hours that includes buying your house as-is with no agent commissions. If you decide to accept, you’ll pick a closing date that works best for you and move out on your schedule. Your closing date can even be as soon as 7-days!
That’s it in a nutshell, basically the easiest way to sell a house in Wisconsin.
Ok, so you’re probably thinking, is there a catch? Well, similar to selling to a house flipper or an as-is buyer, you likely won’t get above market value for your home. Again that’s the trade-off, though, of not dealing with expensive repairs or paying hefty realtor commissions. If you see the value in that, then this option may be the best way to sell your house in Wisconsin.
Alternative Ways to Sell a House
Still unsure about how you’d like to list and sell your house? No worries! There are a few alternatives and creative ways to sell your house that wouldn’t hurt for you to check out. You may be able to use an online tool to sell your house, or if you prefer to do things on your own, there are things you can do to get potential buyers’ attention.
Using Online Tools to Sell Your House
The first place people go to search for their next house is online, so utilizing online tools to sell your house could be extremely beneficial. What online tools you should check out would include:
- A custom video of your home
- A 3D virtual walkthrough
- Drone photos
These are all great online tools for buyers to get the whole experience of your home before even walking through the door. And who knows may increase your chances of finding a buyer.
Making Your House Stand Out from the Crowd
If you’re listing during the best time to sell a house in Milwaukee, that’s great! But hate to break it to you, so is everyone else. How can you make your home stand out from the crowd? Well, a few ways you can do that include setting a competitive asking price, offering buyer incentives, extreme home staging, and offering a bonus to a buyer’s agent. The only downside is that these items can cost you money and may not produce a buyer.
Advertising Your House for Sale
Whether you’re selling without a real estate agent or selling with one, it’s essential to advertise your house. Your agent should have a handle on this, but it will be up to you to get your listing out there if you’re doing things on your own. Ultimately, the more eyes on your listing, the better your chances of finding a buyer. If you’re unsure where to begin, there are free and paid listings sites you can use to promote your home sale. Another great place to advertise is social media, just make sure when you post about your listing that you make it public and that people know how to reach you if they’re interested.
If you do end up working with an agent, ask how he or she plans to advertise and if they intend to post about your home on their social media pages.
Lastly, don’t forget to get a sign for your yard to advertise that your home is for sale, so that way people driving through the area know it’s available.
As you’ve discovered, there are several ways to sell your house, determining the best way is entirely up to you and your situation. For some people, it makes sense to list with an agent, for others, they like the ease of selling to a We Buy Homes Wisconsin company.
If that’s the case for yourself, you’ll want to contact Cream City Home Buyers. They are a locally owned real estate investment firm and solutions company. They are also a BBB accredited business and have an A+ rating.
Cream City Home Buyers have helped many homeowners in the Milwaukee area sell their houses quickly while avoiding the hassle of repairs and paying expensive agent commissions. If you believe this to be the best selling option for yourself, feel free to contact them today or visit their website for more information.