If you’re considering selling your house or investment property in Milwaukee without the assistance of a real estate agent, we’ve got you covered.
While we do collaborate with brokers, there are times when bypassing a middleman is more beneficial.
Paying a commission of 5-6% on the sale of a property is a significant sum. While WI brokers and real estate agents can be invaluable in certain situations, they’re not always necessary.
So, How Can You Sell Your House Without An Agent in Milwaukee?
There are several strategies to avoid hefty commissions in your WI sale.
Firstly, it’s essential to understand a peculiar custom. In most Milwaukee sales, approximately half of the commission you pay as the seller goes towards compensating the buyer’s broker.
Doesn’t make much sense, right?
Why should you pay for the agent on the other side of the table?
Indeed, it defies logic, but it’s the norm..
However, you can leverage this knowledge in your favor in several ways.
Consider the commissions paid when evaluating comparable sales. If properties similar to yours sold for prices inclusive of commissions, take that into consideration.
Avoid underpricing your property. Be mindful that a knowledgeable buyer might anticipate a discount. By assuming the responsibilities of an agent, you stand to save that money.
In some cases, buyers in Milwaukee who aren’t represented by an agent might overlook negotiating the buyer’s side commission. Therefore, refrain from reminding them unless you’re willing to pay. Nonetheless, be prepared if it arises during negotiations.
You might contemplate offering a 2.5% commission to buyer’s agents who bring clients to view your property. Although it may seem like a substantial sum, if you’ve factored it into your property’s price, you can negotiate a better deal for a purchaser without an agent.
Conversely, excluding room for the buyer’s agent’s commission might deter most buyers in the Milwaukee market.
Over 90% of transactions in Milwaukee occur through the Multiple Listing Service MLS, the primary database utilized by all local brokers use to access information for their clients on the houses, condos, land and investment properties for sale, along with data on the sold prices.
Previously, listing a property on the MLS necessitated paying a full commission. However, nowadays, some brokers in Milwaukee charge a fee solely for MLS listing. Typically, you only pay a commission upon closing.
Compared to the cost of newspaper ads, the MLS offers a cost-effective means of marketing your property to a broad audience.
Major real estate search sites like Realtor.com, Zillow, and Yahoo Homes retrieve data from the MLS. Consequently, when you submit your Milwaukee listing to the MLS, your property information will likely appear on most major sites within days.
Each of those sites sells ads. They’ve got packages that let you pay to enhance your listing, feature it at the top of the search, and a lot of other bells and whistles that might or might not get an interested buyer to buy your property.
Advertising is a gamble. Sometimes open houses in Milwaukee WI can be a great way to sell a property, and sometimes they’re a waste of time. Same with newspaper ads, craigslist postings, fancy signs – sometimes they work, and sometimes they don’t.
Effective marketing is crucial to selling your property independently.
Distributing flyers and erecting signs in your neighborhood can generate interest, and numerous websites allow you to post information for free. Yet, relying solely on flyers and open houses may not suffice if your property doesn’t appeal to the average homebuyer.
In theory, real estate agents charge substantial commissions to cover upfront advertising expenses. By advertising multiple properties simultaneously, they anticipate more inquiries, leading to profitable sales.
However, certain properties might require extensive advertising expenses before attracting the right buyer.
If you want to avoid paying any commissions, you can also sell your house to investors like us for CASH
We fair prices for properties – and we can close fast (in as little as 3-5 days if you need to).
Sometimes we’ll purchase Milwaukee houses, fix them up, then rent them out… sometimes we’ll fix them up and sell them to other people looking for great homes in the area, and a lot of other reasons, too – but we love to hear from people like you who are thinking of selling anywhere in WI.
We’re investors who care a lot about Milwaukee.
We close fast and pay cash in as little as just 3-5 days. Give us a call now at (920) 851-9727 or fill out the short form over here.