Should I sell without a realtor? | Cost of selling FSBO | How to sell without a realtor | FSBO paperwork | Best alternative: discount realtors | FAQs
Selling your home without a realtor means you won’t have to pay a listing commission, which in Arkansas averages 2.7% of the sale price. Considering a typical Arkansas house is worth about $177,000, that’s a savings of $4,814.
However, trying to sell a home For Sale by Owner (FSBO) can be tough. It will cost you a lot of time and energy.
In the end, selling a house without a real estate agent isn’t worth it for most homeowners in Arkansas. Especially considering there are low commission real estate companies that offer professional assistance for a lower cost.
If you’re considering FSBO in Arkansas, read on to find out everything you need to know to do it successfully.
✍️ Key Takeaways of FSBO Sales
- Selling without a real estate agent means avoiding a listing commission (2.7% on average in Arkansas). But in exchange for those savings, you’ll have to do everything from advertising your home to negotiating the final deal.
- In most cases, you’ll still need to offer a buyer’s agent commission. 2.7% is typical in Arkansas.
- Selling without an agent is best for experienced sellers or people selling to family or friends.
- For most sellers, there are better cost-saving options that will net you more money and provide professional support.
Should I sell my house without a realtor?
Selling a house for sale by owner in Arkansas comes with many pros and cons. While it’s not recommended for everyone, FSBO can help experienced home sellers save on commission—but only if they know what they’re doing.
✅Selling your home without a realtor might be right for you if…
- You want to save on commission
- You have plenty of time to take on the responsibilities of a real estate agent
- You already have a buyer lined up
- You’re in a hot seller’s market and you have a desirable home
🚫 Selling without a realtor might not be right for you if…
- You don’t have a lot of free time
- You’ve never sold a home in Arkansas
- You want to sell for market value – or higher
If you’re still not sure, check out our thorough guide to selling FSBO to help you decide. If you’re open to other options, some low-commission real estate companies, like Clever Real Estate, allow you to work with a top local real estate agent at half the typical cost.
Cost of selling a house without a realtor in Arkansas
Below, you’ll find a list of prices for common services you might want to consider if you decide to sell without a realtor. However, know that if your home is in need of repairs or is in a buyer’s market, you might need to spend a lot more to prep and market your property.
💸 Common costs for FSBO sellers
|Appraisal||$350 to $445||To price your home more accurately|
|Photography||$169||To compete with homes listed by agents|
|Staging||$1,529||To stand out to local buyers|
|Real estate attorney||$204 to $359 per hour||To assist with paperwork, contracts, and legal requirements|
|Flat fee MLS listing||$175 to $500||To get listed on the MLS|
|Buyer’s agent commission||2.7% of sale price||To compensate the agent that represents the buyer (it’s customary for the seller to pay)|
Overall, on average, it costs 7.5% of the home price to sell by owner and about 10% of the home price to sell with a real estate agent. However, the amount you’ll actually save will depend on repairs you need to make, concessions, and other expenses.
Use our calculator to get an idea of how much you can expect to spend if you sell without a realtor.
If you’re considering selling without a realtor in Arkansas, check out our friends at Clever Real Estate. Clever eliminates all the hassles and headaches of FSBO while helping you pay less than you would for a traditional realtor.
In Arkansas, sellers pay an average of 2.7% to a listing agent. Considering the median home value in Arkansas is $177,000, that amounts to $4,814. But with Clever, you can sell with a top local agent for just 1.5%, letting you keep more of your home’s equity in your pocket.
7 steps to sell a home in Arkansas without a realtor
Selling a home without a realtor involves many of the same steps as selling with one, except you’re on your own. To learn more about the basic steps to sell, read our simple, 9-step guide to selling a house in Arkansas.
For Arkansas FSBO sellers, here’s what you need to know.
1. Get your home ready to sell
If you’re wondering how to sell a house by owner in Arkansas successfully, the first step is to get it ready for photos and showings. This involves a variety of tasks including:
- Making small repairs around the house
- Packing away personalized decor
- Applying a fresh coat of paint
- Improving curb appeal
Try to stick with manageable tasks around the house that are likely to provide the best bang for your buck. If there’s a major issue that will scare away potential buyers, you definitely want to address that — but avoid spending large amounts on prep work if you can.
Once the home is prepped, you can get it staged and photographed for your listing. The average photographer in Arkansas costs $140 and a stager costs $1,529. You can do these tasks yourself, but don’t cut corners. Staging and photos can offer a great return on investment if you do them correctly.
If your home needs too much work to sell to a typical buyer, you might consider selling to a cash buyer. You can quickly compare cash buyer offers against your home’s value on the open market with Clever Offers. Try it for free with no obligation.
2. Price your home accurately
When people list their Arkansas real estate for sale by owner, the number one mistake they are likely to make is mispricing their listing. National data shows FSBO properties get 5–26% less than homes sold by realtors, which could cost you $8,700–$45,000 for the average home in Arkansas.
The strategies below are useful tools to avoid choosing the wrong price for your Arkansas FSBO.
Get a comparative market analysis (CMA)
Conducting a comparative market analysis requires you to research recent home sales in your area. Locate properties similar to yours that have sold in the past few months and use 3 or more to get a range of what your home is likely to sell for.
Realtors usually do this, but you can conduct the analysis yourself. Don’t let your desire for a high estimated value fudge your numbers though — this could end up hurting your final sale price.
A helpful alternative is paying a flat fee MLS company to conduct the CMA for you. This means you get a professional analysis for a fraction of the fee you would pay if you worked with a conventional real estate agent.
Hire an appraiser
Getting a formal appraisal is also a good way to assess the value of your home. Appraisers are local real estate market experts who will compare your home to recent sales in the area and estimate its value based on the state of the market.
An appraisal in Arkansas will probably cost $300 to $435, but it could offer a great return on investment if it saves you from mispricing your Arkansas FSBO.
» LEARN: Should I get an appraisal before selling?
Be sure to consider any tax liabilities you’ll need to pay based on the expected proceeds of your sale.
3. List and market your home
A good place to start with your Arkansas FSBO listing is putting it on free websites that get lots of traffic, such as:
- Facebook Marketplace
- The FSBO sections of Zillow or Trulia
There’s also the possibility of listing on paid sites, but you need to decide if the additional traffic is worth the cost. And don’t forget old-school methods like flyers and signs!
When putting your listing together, look over the regulations applicable to real estate advertisements in Arkansas. That’ll help you stay compliant with any rules that impact your listing.
If you want maximum exposure, think about working with an Arkansas flat fee MLS company.
Arkansas flat fee MLS companies
Flat fee MLS companies are real estate brokers that offer one essential service to sellers: listing their homes on the Multiple Listing Service (MLS). Your local MLS is the main directory of real estate listings – it populates listings to all of the familiar websites like Zillow, Realtor.com, and more. But it’s only accessible to realtors. Working with a flat fee MLS company is a workaround, allowing you to list on the MLS without a realtor.
In Arkansas, this will cost you about $80 to $1,000. Our top picks for flat fee MLS companies in Arkansas are:
🥇 Small Fee Realty: Best for sellers in need of extra support
🥈 Flat Fee Group: Best for showcasing your home
🥉 Flat Fee Realty:Best for rock bottom pricing
Read our in-depth guide to Arkansas’s flat fee MLS companies to decide which one works best for you.
Don’t forget to include a buyer’s agent commission (BAC) in your listing
By offering a buyer’s agent commission (also called a buyer’s agency fee), you’ll have more buyers knocking at your door with more (and better) offers.
While you won’t have to pay a listing fee as a FSBO seller in Arkansas, we still recommend you offer a competitive buyer’s agent commission in your home listing. In Arkansas, the average BAC is about 2.7% of your home’s sale price.
While it may be tempting to forgo this commission to save, that decision could cost you. A competitive BAC incentivizes buyer’s agents to bring their buyers to your home and do their part throughout the transaction. Without a BAC, the buyer’s agent would be working for free (not too enticing, huh?).
Required Arkansas seller disclosures
Formally disclosing known issues with your home is not legally required in Arkansas, but most sales involve some kind of disclosure. Some sellers may include an Arkansas seller’s disclosure form to put the buyer’s mind at ease. You can also include a flood risk disclosure to assure buyers that the home is not a known risk for flood damage.
The federal government requires home sellers to provide a lead-based paint disclosure when selling a home that was built prior to 1978.
If you are including disclosure forms to interested buyers, you must do so prior to signing the purchase agreement so the buyer can’t use those issues to back out of the deal later. You can do this by making hard copies available at showings, emailing them to buyers, or attaching the disclosures to your listing.
4. Manage showings on your own
You’ll need to be very organized if you want to oversee the showings on your own. We recommend you keep a showing calendar, preferably an electronic one that you can share with realtors and potential buyers.
It’s also a good idea to keep email threads on file that show communications between you and potential buyers or their agents.
When showing day arrives, follow these tips to get the most out of that experience:
- Schedule appointments consecutively, but with short gaps in between.
- Open the curtains for natural lighting.
- Turn on exterior lights if the sun is going down.
- Place any paperwork in a conspicuous location.
Make plans to be out of the house when buyers arrive for showings — lingering owners can make buyers uncomfortable. Lockboxes are useful and secure tools for letting agents and buyers in without having to be there.
5. Review and negotiate offers
Offers from buyers will likely come in the form of a purchase agreement, which will become the contract for your Arkansas FSBO.
In contrast to the buyer, you won’t have the guidance of a realtor when reviewing your offers. Make sure you fully understand the offers before you sign or counteroffer.
Bear in mind that the purchase price is only one aspect of the offer. It could be cash or traditionally financed, they may ask for seller credits, and the offer may have contingencies. The key to being an expert negotiator is holding firm on your priorities and giving ground on things that are more important to the buyer than you.
When in doubt, it’s probably better to counteroffer than outright reject an offer — you never know what someone is willing to give you until you ask.
Working with a real estate attorney is not required in Arkansas, but it may be a good idea if you’re confused at any point during the process. Attorneys not only help you avoid legal pitfalls but also can help you understand the implications of offers and stipulations.
6. Allow the buyer to conduct due diligence
The buyer’s due diligence period allows them to research the property further to ensure it’s a good investment for them. It occurs between the signing of the purchase contract and closing. Generally, the following things will take place:
- Mortgage underwriting
- Property title search
- Final walkthrough
Occasionally cash buyers will opt not to do some of these things, but you’ll know what their plan is by reading the purchase agreement.
If something concerning comes up, you and the buyer may need to renegotiate your agreement’s terms and amend the contract. Alternatively, you could tell the buyer whatever they find is their problem (also known as selling “as is”), but that means they might walk away, depending on what they find.
If the buyer finds no issues, or if all issues are resolved, you should be able to close on time. If at any point you decide you want to walk away from the deal without a reason stipulated in the purchase agreement, you should talk to a real estate attorney first.
You will close on the date stated in the purchase contract unless everyone agrees to postpone.
In Arkansas, third parties, such as title companies or real estate attorneys, usually run these appointments. During the appointment, you’ll sign the title and other paperwork to allow the buyer to take possession. You’ll also hand over the keys and receive a closing statement accounting for every part of the transaction.
The sale proceeds will be given to you via wire transfer or check on the day of closing.
For sale by owner paperwork in Arkansas
Here’s a list of the Arkansas paperwork you’ll need to sell your home without a realtor.
- Seller Disclosure Form (optional)
- Lead-Based Paint Disclosure
- Flood Risk Disclosure
- Arkansas Residential Purchase Agreement
Not finding what you’re looking for? Check out our comprehensive list of paperwork for selling your house without a realtor.
Best alternative: work with a discount broker
For many people, trying to sell without an agent isn’t worth the hassle. If you think you’ll need some help along the way, a discount broker is a good alternative.
Discount brokers are full-service real estate agents who are willing to work for a reduced commission rate. Sellers can save thousands while still receiving assistance from an expert local agent.
» READ: The Best Discount Real Estate Brokers in Arkansas
For discount broker services, we highly recommend our friends at Clever! Clever pre-negotiates with top agents to offer you low commission rates without compromising on service quality.
Frequently asked questions
Do I need a lawyer to sell my house in Arkansas?
No, you don’t need a lawyer when selling in Arkansas — but it can be worth it to hire one. For a few hundred dollars an hour, they can handle all the legal documentation and ensure that your transaction goes without a hitch.
Is selling a house without a realtor worth it in Arkansas?
Selling FSBO will immediately save you the 2.5% to 3% that you’d typically pay as a listing commission. However, if you’re not careful, you may not make as much money from your sale. Mispricing your home or dealing with potential legal repercussions if you incorrectly file certain documents could end up costing you thousands. If you have no experience selling real estate, then it may not be worth it to forego a realtor’s help.
If you’d like some more advice about selling your home, here are a few great resources to check out:How realtor commissions work in Arkansas: Even if you decide to sell your house without an agent, it’s still a good idea to offer commission to the buyer’s agent. Learn how much realtors expect to earn and what you can do to make your listing more appealing to agents and their clients. Top We Buy Houses Companies in Arkansas REVEALED: If you need to sell your home in a hurry, a We Buy Houses company may purchase your house as-is for a reduced rate. Find out if this option could be the best option for you here!
How Much Does it Cost to Sell a House? True Costs Revealed: Wondering how much you’ll have to pay to sell your house? Check out this article to calculate your repair budget, closing fees, marketing expenses, and more.
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