Profile picture for spahlmeyer0014

How do I get started trying to sell my own home without a realtor? What paperwork is needed?

  • November 20 2013 - Wausau
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Answers (14)

Profile picture for Southie163
All you need to do is get an Atty to review/create the documents and post the home on the MLS yourself. The MLS will feed Zillow, Trulia etc. I would also recommend getting an appraisal so you have an accurate listing price but you should probably get an Atty and an appraisal even if you have an agent.  FSBO is not for everyone but as long as you are somewhat familiar with the process you'll be fine. I've done it before without any problems.  
  • October 30 2014
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Profile picture for wmessina0109
Agents are like pilots, or doctors. I can go online and self diagnose, and most kids can fly a simulator, but there is risk involved. Liability is the biggest concern for agents, and they know the business. A small oversight, or error could cost thousands. You can wind up in court for unintentional misrepresentation, (something that you honestly didn't know, that injured a buyer) But, then again, you might get lucky... good luck...
  • September 08 2014
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Profile picture for CallTheSisters
Sure you can do it yourself. When a buyers agent brings a buyer - refrain from asking them any questions.  You should be prepared to represent yourself and know your responsibilities without asking for advice.

 Lots of luck to you. 

When you succeed be sure to post out here how easy it was. 
  • November 21 2013
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Profile picture for sunnyview
Wisconsin has a standard approved real estate contract you can use. WI also requires a real estate condition report to be signed. You need to provide the Federal Lead Disclosure Booklet and also need to have the WI disclosure form for lead available on their website to be signed by your buyer. There may be other forms required so check with someone in your area.

Ask an attorney about any other disclosures that you may need in your state or contact a flat fee agency about required paperwork. If you want some help but not a full commission listing, you can also hire an individual real estate agent to handle paperwork only for an agreed fee. Hope the links help.
  • November 21 2013
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Profile picture for sherrymarable
Most of the comments below are from Realtors wanting to convince you that you need them in order to sell your home. You will, however, need a buying agent! Otherwise, just get your home listed on the MLS or FMLS. I honestly have never seen an agent do any spectacular marketing on a home. They list it and then other "buying" agents bring the buyers. Be willing to pay the buying agent a decent commission, otherwise, they have no incentive to work at bring you a buyer. They can handle the necessary paper work, etc.
All of this is being said to someone who has knowledge of preparing their home for sale and has spoken with someone who has had success going this route.
  • November 21 2013
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Yeah. Here's the thing. The people who urge you to go it alone won't be there for you if things go sideways.

Most of the "successful" FSBO stories that you will read on RE blogs involve sellers who used professionals in the past, and then decided that they no longer needed them. Sometimes, those stories border on the accusatory "I sold three houses through agents and they were all so horrible that I started selling them myself and I pocketed twice as much money in half the time and don't see why anyone uses them at all."

Regardless - life is short, and if you want to play Real Estate Listing Agent, have at it. You will make some mistakes - everybody, in every field, makes mistakes when they first start out.

All the best,
  • November 20 2013
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Profile picture for knightlight
A purchase/sales agreement…Easy fill in the blank form.  You do not need realtor.  They all try to make you think you can be sued doing FSBO, complete BS.  Realtors use scare tactics like this to make you think you need them. Just be honest and disclose all you know lead paint and so on.  
I would recommend a flat list site of some kind.  Best of luck.
  • November 20 2013
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Profile picture for rbuckisch
Even if you were comfortable with the paperwork, the time commitment, and the potential legal liability you could create for yourself, how would you market it?  When selling anything be it real estate, cars, etc the best way to get the most money is to have maximum exposure.  A good agent is going to have an entire marketing plan which will include placing the property on the mls which feeds sites such as zillow, redfin, trulia, etc.  If your goal is to save money on commission, you should think about the dollars you will be leaving on the table by not having the proper exposure to the market. 
  • November 20 2013
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Profile picture for SteadyState
Since no agent has given you an answer to your questions - here is a place to star.
Good luck.
  • November 20 2013
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Hi,

I know that agents come from a biased point of view, but like most of us I'd really recommend that you do your homework if you want to go the FSBO (For Sale By Owner) route. Saving both commissions is one thing, but the enormous amount of paperwork and the possibility of legal action by the buyer if you don't disclose what you need to is probably not worth the headache. I would at least consult/hire a real estate attorney to help you.

Either way good luck and hope you sell your home for the highest price possible!
  • November 20 2013
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I would recommend speaking with an attorney.
  • November 20 2013
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Profile picture for Rebecca Marvel
Why in the world would you want to try to do this by yourself?  Trying to save a bit of money, eh?

In the end, you will NOT save any money - no matter what anyone says to the contrary.
  • November 20 2013
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Hire a pro, there are budget agencies available but you get what you pay for!

GL
  • November 20 2013
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It always makes be nervous when somebody wants to do something and they do not even know how to get started.  There is a lot more than "paperwork" needed to sell a home.  If you still want to navigate on your own, you will need a property disclosure, depending on the age of the house, you will also need a lead paint disclosure.  The offer is provided by the buyer agent or buyer who is interested in your property.I wish you good luck! 
  • November 20 2013
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