Do you want to sell your house fast without the hassle of real estate commissions for a real estate agent? Do you want to learn how to sell your house without a realtor? If so, you can try to sell your home via the “for sale by owner” process or FSBO.
When seeking how to sell your house without a realtor in Wisconsin, you might find that your final home sale price won’t end up any lower when seeking offers from potential buyers by yourself.
The National Bureau of Economic Research (NBER) released a study in 2007 on homes in Madison, Wisconsin, comparing FSBO sellers and their outcomes with agent-assisted MLS listing results. The report showed no statistical differences between the two.
As such, you can come out ahead and avoid paying at least 3 percent of your final sale price in real estate commissions to a realtor. Are you ready to learn how to sell your house without a realtor? Then let’s get started!
Wisconsin Real Estate Market Overview
Homeowners looking to avoid paying the agent commission should first learn about the Wisconsin real estate market to better understand the market value of their home. Doing so can help you set a better asking price during the home selling process.
You will need to see how much money comparable homes are sold for in your area before picking a listing price.
As of 2021, the Wisconsin real estate market has grown at the fastest rate in the last 15 years. The revenue from real estate transactions totaled above $132 million in Wisconsin for the fiscal year ending on June 30, 2021.
The previous year only saw a revenue of $97 million. According to the NBER report, low mortgage rates led to significant growth in the Wisconsin housing market. Home sellers saw the median value of single-family homes rise from $126,500 in 2016 to $170,000 in 2021 throughout Wisconsin.
Essentially, the median value grew by 34 percent. The biggest increases for the Wisconsin housing market occurred in 2020 and 2021. In general, the housing market across the United States hit record numbers in 2021, according to the U.S. Census Bureau.
Pros and Cons of FSBO in Wisconsin
You will find a plethora of positives and negatives when selling FSBO homes in Wisconsin. Some of the pros of selling without a realtor’s help include:
- Avoiding commission fees
- Having greater control of the selling price and the final purchase agreement
- Not having to deal with a listing agent who doesn’t meet your needs
- You can describe your home with greater and more intimate knowledge during an open house
- You can get advice from other FSBO sellers through social media sites
- You can post your home on FSBO.com and Craigslist
However, there are also cons when you don’t get the help of a listing agent, such as:
- Experiencing more difficulty choosing the right home value
- Lacking access to a comparative market analysis
- Losing out on recommendations for a professional photographer, real estate attorney, and other specialists
- Lacking the experience of a qualified real estate professional
- Going without local housing market expertise
- Getting stuck in a more time-consuming role
- Possibly getting resistance from a buyer’s agent
FSBO vs Selling with a Realtor in Wisconsin
When acting as your own agent, you may want to get some upgrades done to get the best offer from potential buyers. That can include adding a fresh coat of paint to the bedrooms, kitchen, or living room. Also, you may want to upgrade the kitchen cabinets, replace old carpets, and refinish hardwood floors. You can also improve curb appeal by adding some new flowers to the front yard.
To choose the best listing price, check out real estate websites like Redfin, Trulia, Realtor.com, and Zillow. Look at the prices of comparable homes in your neighborhood and pay attention to which houses are sold the fastest.
The next step involves getting great photos of your home before putting up your listing. You might want to get professional pictures to attract more home buyers.
However, when working with a realtor, you won’t spend as much time figuring out all the details, as your agent will provide you with many common services. For instance, a realtor can get your home on a multiple listing service (MLS), which provides a list of all the properties for sale at any given moment.
If you’re not working with a realtor, you can choose a flat-fee MLS to list your home for sale. Nonetheless, if you have never sold a property before, the knowledge and guidance of a realtor may help tremendously, as they can provide housing market expertise.
The process also goes more smoothly with a realtor who will help you comply with all legal requirements, manage open houses and showings, and coordinate with the buyer and buyer’s agent.
Selling a House by Yourself in Wisconsin
If you are selling a house by yourself in Wisconsin, you will also need to know all the regulations and state laws in Wisconsin regarding real estate transactions.
For example, you will need to adhere to Wisconsin property disclosure requirements. As such, you will likely need to disclose to buyers whether any lead paint is present in the home or if any electrical systems are not built to code.
You also need to follow fair housing laws. Therefore, make sure the language used in your listing does not discriminate against anyone. When selling a house by yourself, you will need to market it through social media, by emailing your contacts and holding open houses.
You can also try selling your own home to a cash buyer and selling the place in its as-is condition. Keep reading to learn more about these possibilities.
Sell Your House to a Cash Home Buyer
With a cash offer, you won’t need to wait on a lender to approve a mortgage loan. Cash home buyers also purchase properties in their as-is condition, which means you can bypass the home inspection. Lastly, you won’t need to stress about closing costs when selling to a cash buyer.
When you want to sell a house fast in Wisconsin, working with cash buyers or real estate investors is your best bet. Our tips to sell a house fast also include decluttering and staging the home, completing landscape work, picking the right price, and constantly marketing the sale through MLS and other listings.
Yet, with a cash home buyer, you can complete the real estate transaction in a matter of weeks instead of several months.
Selling Your House As-Is
Whether you use a cash buyer or not, you may gain some advantages if you sell your house as-is in Appleton, Wisconsin. One of the biggest benefits of selling your place in its current condition includes a faster transaction, as you won’t need to spend time on renovations.
Also, you will have fewer out-of-pocket costs since you can avoid staging fees and payments on upgrades. However, you have to remember a few things when selling a house as-is. You need to remain completely honest about property disclosures to meet real estate laws.
Also, keep your home clean and tidy while removing clutter. Lastly, you should have a minimum offer in mind that you’re willing to take.
Here, we’ve provided you with all the key information on how to sell your house without a realtor in Appleton, Wisconsin, so you can make the right decision for you.
If you are selling your home without a realtor, consider finding cash home buyers in Appleton or investors for a quicker transaction and fewer hassles. Also, we buy houses in Milwaukee, and we can help you sell your home fast. Contact us today!