If you plan to sell your Waukesha home, you're probably wondering how much you can sell it for.
Your home's price is one of the most significant factors that will determine the success or delay of the selling process. Price it too high and your home will stay on the market for a long time. Home buyers these days have access to a lot of information, and they will know if the price you set for your Waukesha property is just right.
How do you set the right listing price?
There is no magic formula for pricing a property. It comes down to having the right real estate agent, one with access to the right information.
The following are some factors agents consider when pricing your home.
1. Sold listings. Also known as comparables, this is a list of recently sold homes in the area that are similar to the size, condition, and features of your home. Agents evaluate comparable homes, check their listing price, find out how much they actually sold and how long it was on the market because these sold listings directly influence your market value. The information they've gained will be used as a benchmark when they help you establish your list price.
2. Active listings. Don't just rely on the past sales. You also have to know your competition. Finding out the prices of the active listings can tell you how your home compares to other properties in the price range you are offering it for.
3. The time factor. How soon you want to sell your home is another important consideration in pricing. If you’re in a hurry, you may want to price your home lower than its market value.
If you have time, you may be tempted to overprice, thinking you have plenty of time to negotiate. This is one mistake you should avoid. You have to remember that buyers these days have access to a lot of information, and they can easily know if you overprice your home. When this happens, your property may end up sitting on the market until it goes stale.
4. Include some room for negotiation. Expect buyers to negotiate. Allow some room for negotiation if only to make the buyer feel like he won some terms. However, be careful not to overreach, because you may end up overpricing the home.
5. Be flexible. As long as your home is on the market, its price is an ongoing discussion. If you notice that it has already been a couple of months and no one’s interested in scheduling for a how showing or a potential buyer said it is priced a little too high, react quickly and adjust your listing price.
Setting the price right is a challenge, so seek the help of an expert Realtor® in Waukesha, like me, Kristin Johnston. I’ve been in real estate since 2000 and I focus mainly on Waukesha County.
Waukesha is a great place, and it has recently been ranked as the best city to live in Wisconsin. 247wallst.com ranked it as the 36th best city to reside in the country with approximately 590 cities with populations of over 65,000. The company analyzed data in nine major categories including crime, demography, and economy.
It turned out the residents in this city have better access to restaurants, bars, fitness centers and movie theater compared to other cities in the country. It also has a smaller percentage of residents living below the poverty line. Best of all, it is relatively safe.
With all these advantages, expect more people to consider moving to Waukesha, which translates to more potential home buyers.
Selling your home? Let me make things easy for you. Call me, Kristin Johnston, at 414-254-6647 for a free home evaluation.
**In case you can not view this video here, please click the link below to view How Much Can I Sell My Home For? on my YouTube channel: https://www.youtube.com/watch?v=--9_Oj6zMlI&feature=youtu.be**
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