Going Solo: Selling Your Home Without a Broker

You probably remember that it hasn't been long, just a few years now, that you could look at houses on your local multiple listing service online. Before the internet you had to get in touch with a real estate agent to access to the MLS, and to sell your house online through the MLS. But now anyone can view the entire inventory of the local MLS in a variety of ways, often on the individual websites of brokers in the area. Listing information is no longer controlled exclusively by real estate professionals, although it's still a legal requirement to hold a real estate license in order to collect a real estate commission.

But the internet has leveled the playing field for homeowners who want to sell by owner. Now anyone can advertise a house for sale online in one or more places, including the option to put your own house on the MLS by paying a brokerage fee for the listing service.

Considering all your options, how can you know if you should sell your house online or list it with a broker on the MLS?

My honest answer to that question is, "it depends," because your personal knowledge, skills and work schedule all influence your ability to sell your house online. It really depends on your comfort level regarding a few different things: researching your obligations, asking others for help and delegating when necessary. Perhaps surprisingly, the decision is based more on you than it is on your particular house.

Ask yourself these important questions when you're considering selling your home by owner:

1. Do you have the ability to make appointments to show your home when it's convenient for each buyer?

2. Do you have the necessary forms to prepare a Sales Agreement when someone wants to make an offer?

3. Do you know the requirements for a Seller's Property Disclosure Statement in your area?

4. Do you know your state requirements for holding earnest money you collect from a buyer between the time an offer is made and the sale is closed?

5. Do you know what happens to the earnest money if the sale does not close for some reason?

Of course none of the questions above are actually difficult, but you'll see a theme running through your replies - it will be clear whether or not you know what it takes to sell your home yourself. If you have a friend or relative who has sold his house by owner it's possible that person may be of help to you, but you still have many things to consider regarding your particular situation. You'll want to prepare yourself as well as prepare your house when you make a decision to sell your home yourself online.


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Paulette kingston, along with her husband Leo, own and operate a real estate investment business in Oklahoma City. They offer property owners in the area a way to sell a house for cash without needing to list with a realtor or using a bank.