How to Sell a House By Owner in 2022
Americans spent approximately $86 billion on real estate commissions every year. In this market, the smartest way is to sell your house by owner on your own.
» In this guide, we’ll cover:
- How to list on MLS By Owner?
- What are the Pros and Cons of For Sale By Owner (FSBO)?
- What are the 9 Steps for FSBO sellers?
- How to Sell a House by Owner for Cash?
- Is it Hard to Sell By Owner?
- What Paperwork do I Need to Sell My House Myself?
- Do I Need a Lawyer to Sell my House Privately?
- Final Word
- Frequently Asked Questions (FAQs)
How to list on MLS By Owner?
As per Zillow Group’s Consumer Housing Trends Report survey, for over 50% of sellers, getting maximum returns was the most important consideration.
In November 2021, the national median home value, including all housing types, rose to $353,900, 13.9% up over the last year. This meant paying more in Realtor commissions. The statistics are expected to grow further in the coming years. An alternative is – For Sale By Owner (FSBO) where home sellers sell their property without the help of a Realtor.
The majority of people who choose this alternative can avoid paying the 5% – 6% commission.
Listing on MLS can only be done by licensed real estate agents. In a flat fee MLS model, the Realtor will just list your house on the MLS at a reasonable flat fee giving you more control over the selling process.
✍️ Pro Tip: Flat Fee MLS platforms like Houzeo can help home sellers list their property on the MLS at a low fee.
What are the Pros and Cons of For Sale By Owner (FSBO)?
Key Benefits of Selling a House For Sale By Owner
- Savings on Commission: Selling your house without a Realtor can result in commission savings anywhere between 3% to 6%
- Speed to Market: FSBO websites like Houzeo will get you on the market within 24-48 hours or faster!
- Control Over Transaction: By interacting directly with the buyer or buyer Agent, you reduce intermediaries. That makes everything simpler.
Key Risks of Selling a House For Sale By Owner
- No MLS Access: MLS access is only granted to registered brokers and agents. For Sale By Owner (FSBO) sellers are not allowed to list their homes on the MLS.
- Poor Customer Service: If you don’t get help when you need it, selling a house without a Realtor or For Sale By Owner can become a very expensive experiment very fast. Be sure to read reviews to know how an FSBO site’s customer service is.
- Knowing Help is Available: Selling your home without a Realtor is simple, but help is available if you need it.