Here’s a detailed, step-by-step guide for selling your home without a realtor so you can save money while staying legally compliant and maximizing your sale price.
1. Understand FSBO (For Sale by Owner)
When you sell without a realtor, you’re doing what’s called a For Sale by Owner (FSBO) transaction. You won’t pay the typical 5–6% listing commission, which can save you thousands, but you’ll take on tasks that an agent normally handles—marketing, showings, paperwork, and negotiations.
2. Research Market Value
Start by setting the right asking price:
- Use online tools like Zillow’s Zestimate, Redfin, or Realtor.com to get a price range.
- Look at recent sales (comparables) for homes similar to yours (same size, condition, and location).
- Consider an appraisal – paying $400–$600 for a professional appraisal can prevent you from overpricing (and sitting on the market) or underpricing (and leaving money on the table).
3. Prepare the Home
Buyers form impressions quickly, so focus on:
- Decluttering and deep cleaning (including windows, carpets, and appliances).
- Making minor repairs (leaky faucets, cracked tiles, paint touch-ups).
- Staging the home or rearranging furniture to make rooms feel larger.
- Curb appeal upgrades (mow, mulch, plant flowers, pressure-wash exterior).
4. Gather Required Documents
You’ll need:
- Deed and mortgage payoff statement
- Property disclosures (required by state law – lead paint, water damage, etc.)
- HOA documents (if applicable)
- Utility bills and tax history (buyers may ask for these)
5. Market the Property
Without a realtor, you’ll need to get exposure:
- Professional photos – high-quality images help sell faster.
- Listing sites – Zillow, Trulia, Facebook Marketplace, Craigslist, and ForSaleByOwner.com.
- Yard sign and flyers – make it easy for drive-by traffic to contact you.
- Social media & local groups – neighborhood Facebook groups can be powerful.
- Flat-fee MLS listing – for a few hundred dollars, you can get on the Multiple Listing Service so agents and buyers see your home.
6. Show the Home
- Be flexible with showing times.
- Keep the home clean and tidy.
- Consider a lockbox for safe, unattended showings if you can’t always be present.
7. Negotiate Offers
- Review contingencies carefully (inspection, appraisal, financing).
- Be ready to counteroffer on price or terms.
- If you’re unsure about the legal or financial implications, hire a real estate attorney for a flat fee to review the contract—it’s far cheaper than paying full commission.
8. Handle Inspections & Appraisals
- Expect a home inspection and potentially repair requests.
- Negotiate fairly; buyers often expect some concessions but you don’t have to agree to everything.
- If the buyer is using a mortgage, the lender will order an appraisal to confirm the price.
9. Close the Sale
- Use a title company or closing attorney to handle the paperwork, deed transfer, and funds disbursement.
- Review the settlement statement carefully before signing.
10. Save Safely, Not Riskily
- While you’re saving the listing commission, be mindful of legal compliance—missing a disclosure can lead to lawsuits.
- Consider spending strategically on attorney review, professional photos, and flat-fee MLS listing—these often pay for themselves.