Mike Roth Real Estate Blog

6 Reasons Overpricing Your Home Will Get You Nowhere!

There are many great Milwaukee area homes for sale. Click here to perform full home search, or if you're thinking of selling your home, click here to contact us for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (262) 797-6453 or (262) 798-1162 for a FREE home buying or selling consultation to answer any of your real estate questions.

In our current market, where prices are increasing a little bit each year, sellers want to get as much as they possibly can for their home. However, in order to get top dollar, you need to be strategic when putting a value on your property. Let's take a look at the 6 dangers of putting too high a price on your home:

Fewer showings: Buyers look in price brackets - if you price your home well above what it's worth, you are losing a lot of potential buyers who will simply pass it up.
Help out your competitors: When buyers pass up your home, they look at other homes on the market. If homes similar to yours are priced much lower, buyers will have no problem making an offer on your competitor's home.
Generate most interest within first 30 days: Starting high and coming down later may sound like a foolproof plan, but you are losing out on a lot of buyers by waiting to price your home fairly. The first 30 days are crucial for generating interest in your home - you don't want to miss that opportunity.
Attract the wrong buyers: Because buyers search for homes according to their price bracket, your home will be compared to homes with more features and benefits. The people that will appreciate your home won't be looking at it.
Your home takes longer to sell: When your home sits on the market for a long time, buyers and agents alike start to wonder if there is something wrong with it.
Buyers negotiate a lower price: Since your home sat on the market for so long, buyers think they can submit a low offer and buy your home at a low price.

Consider these 6 points when putting a price on your home. It's a matter of balancing the desire to get a high price and the need to attract buyers to your home. If you have any questions about the pricing process, feel free to give us a call. We would be happy to assist you in any way possible!

How we helped Clayton sell a property with our professionalism

"The results were blindingly fast! I was amazed at how efficient the team worked together. I had no estimation of selling this property before winter and closing last week just took a huge load off my mind. I’m so delighted to have this process closed out! They really worked around my challenge of not having my brother be at the house during the showings and the important thing for me is that I felt comfortable. They understood my challenge and worked with me. I might have felt embarrassed about the situation, but I just wasn’t because of their professionalism."

Quarterly Market Snapshot for Milwaukee

Many folks in our area have been asking whether our market currently favors buyers or sellers. The short answer is neither party has a particular advantage in our current market. Here are the numbers:

Homes available: 9,216 (1,524 homes sold in August)

Inventory: 6 months (Perfectly balanced market)

Average home price: Projected to rise 1%-3%

Average list-to-sale ratio: 97% (Up 1% since last year)

Days on market: 72 days (Down from around 100 days last year)

Interest rates: 4%-4.5% for fixed-rates, 2%-3% for adjustable rates

What does it all mean? For one, we have an incredibly healthy market here in Milwaukee. Prices are rising at a steady, sustainable rate and there are still plenty of available homes for buyers to choose from. Additionally, sellers who get their home ready to sell and price it right are getting what they ask for. All of this is great news as we head into the Fall months for real estate.

If you're interested in buying or selling in this great market, don't hesitate to reach out to us. We'd be pleased to give you a hand!

Why Hire the Roth Team?

Given that you are considering a professional real estate agent to sell your home, I have three reasons why you should choose myself and the Roth Team to sell your home:

1. Results and experience. Over the last twelve months, we have closed over 190 transactions – compare this to the average real estate agent that sold less than four homes in the same period of time. More importantly, we are bringing our sellers an average of 96% or more of the asking price. This is all done on a timetable of 80 days that the home being on the market.

2. Experience and knowledge. I’ve been in the real estate business for over 30 years and have closed over 3,500 deals. There hasn’t been a problem we’ve come across that we can’t solve in today’s market – especially in the challenging market we have today. We will also determine the best price that you can receive in this market.

3. Communication. One of the biggest problems in this industry is the lack of communication between the seller and their agent. We have a dedicated team that will be available to you seven days a week. You can rest assured knowing that all of your questions will be answered and you will be updated through every step of the transaction. You also can expect Weekly Activity Reports that include how many hits your listing has gained from the internet, TV advertising, and feedback we’ve received from the buyers.

When you’re ready to sell your home, give the Roth Team a call or send us an email.

Mike Roth - The Roth Team
Shorewest Realtors
Office: 262.797.6453
Direct: 262.798.1162
rothteam@shorewest.com

What our happy Greater Milwaukee clients have to say

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testimonials from happy clients

Clayton - "The results were blindingly fast! I was amazed at how efficient the team worked together. I had no estimation of selling this property before winter and closing last week just took a huge load off my mind. I’m so delighted to have this process closed out! They really worked around my challenge of not having my brother be at the house during the showings and the important thing for me is that I felt comfortable. They understood my challenge and worked with me. I might have felt embarrassed about the situation, but I just wasn’t because of their professionalism."

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"I used the Roth Team for a two home sales and purchases. I would recommend them to any buyer or seller, they are so accommodating, trustworthy, and determined to get the best for you. The team takes time to listen, answer questions, and provide professional advice. Do not hesitate to use the Roth Team, they are amazing!"

- Mary Coubal

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"My wife and I found our dream home in Florida, but hadn't even thought about preparing our New Berlin home for sale. In one visit Mike Roth gave us the direction and resources we needed to get our home of 20 years "show-ready" and although it was January, Mike marketed the property to sell almost too quickly! We thank him and his very professional staff for making it happen!"

- Mike and Diane Mullihan

Click Here to Read More Reviews

Pages

6 Reasons Overpricing Your Home Will Get You Nowhere!

How we helped Clayton sell a property with our professionalism

Quarterly Market Snapshot for Milwaukee