Should you leave room for negotiation in your list price? Many people think that they need to take thousands or tens of thousands less than their asking price. That’s not true. I looked up some statistics for Greater Milwaukee and checked the average list-to-sale price ratio. Here’s what I found for each county in the Greater Milwaukee area:
- Milwaukee County- 98%
- Waukesha County- 98.3%
- Ozaukee County- 98%
- Washington County- 98.6%
- Racine County- 98.7%
- Walworth County- 96.7%
“The market won’t let you underprice your home, but you can overprice it.”
Based on these figures, you can see that you’re better off pricing your home at a price that is going to cause it to sell and bring in the most buyers. If you ask too much for your home, you won’t get showings, therefore you won’t bring in buyers.
Another thing you need to understand is that the market won’t let you underprice your home. A buyer who was working with our team who made an offer on a house that was $20,000 above its asking price and didn’t get it. The market wouldn’t let that seller underprice their home.
If you have any questions about what’s happening in the market or with your individual home, don’t hesitate to reach out and give us a call or send us an email. We would love to help out.