How to Sell a House Without a Realtor in New Mexico

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  Written by Jon Stubbs

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  Edited by Lindsay Stefan

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 New Mexico averages 2.8% of the sale price. Considering a typical New Mexico house is worth about $272,000, that’s a savings of $7,507.

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 New Mexico. Especially considering there are low commission real estate companies that offer professional assistance for a lower cost. 

If you’re considering FSBO in New Mexico, read on to find out everything you need to know to do it successfully.

Should I sell my house without a realtor?

Selling a house for sale by owner in New Mexico 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 New Mexico
• 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 New Mexico

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	$410 to $475	To price your home more accurately
Photography	$148	To compete with homes listed by agents
Staging	$1,529	To stand out to local buyers
Real estate attorney	$200 per hour	To assist with paperwork, contracts, and legal requirements
Flat fee MLS listing	$300 to $1,000	To get listed on the MLS
Buyer’s agent commission	2.8% 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 New Mexico, 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 New Mexico, sellers pay an average of 2.8% to a listing agent. Considering the median home value in New Mexico is $272,000, that amounts to $7,507. 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 New Mexico without a realtor

1. Get your home ready to sell

You want to max out your home’s appeal before putting it on the market. 

A new coat of paint will make your home look brighter, cleaner, and newer, and it doesn’t cost much. Fix anything around the house that needs work, like leaking faucets or creaky doors.

Landscaping helps make a positive first impression on buyers. Lean on appealing plants like native drought-tolerant grasses, shrubs, and succulents.

Big, expensive repairs are a dealbreaker for many buyers, so if your home needs a new boiler or roof, take care of it now. You’ll make up the money in the sale price.

Deep clean your home, and declutter as much as possible. Put half your furniture into storage, and remove heavy window coverings so your home looks bright and open.

If you’re not happy with your furniture, consider using a professional home staging company. In New Mexico, staging costs an average of $1,529.

Finally, take your listing photos. Consider hiring a professional real estate photographer; in New Mexico, it’ll cost you an average of $148..

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

The right list price will ensure your home sells quickly and for a great price. On the other hand, the wrong list price can really hurt your home sale.

Set your list price too high, and many buyers will assume you’re unreasonable, and stay away. Set your list price too low, and many buyers will suspect your home has undisclosed problems. Experts suggest setting your list price at or slightly below market value, to attract maximum interest.

We recommend using one of the following options to come up with your home’s list price.

Get a comparative market analysis (CMA)

A comparative market analysis (CMA) compiles data from recent sales of homes that are similar to yours, and uses it to produce an accurate list price for your home. You can get a comparative market analysis from:

• Your real estate agent (realtors often provide CMAs for free)
• A flat fee MLS company
• Create your own CMA; just be sure to steer clear of personal bias

Hire an appraiser 

A professional home appraiser is highly experienced in assessing a home’s value. They’ll consider your home’s condition and features to estimate its present market value. Think of a home appraisal as similar to a CMA, except that it uses human expertise instead of data analytics. 

In New Mexico, the average cost of an appraisal is .

» LEARN: Should I get an appraisal before selling?

3. List and market your home

Before you carry out your marketing plan, familiarize yourself with local real estate advertising regulations to make sure you’re not breaking any laws. 

Next, list your home on free sites like Craigslist, Zillow and Trulia (in the FSBO section), Facebook Marketplace, and ForSaleByOwner.com.

Publicize your listing on social media platforms like Facebook, Twitter, Instagram, Tiktok, Nextdoor, and LinkedIn. These platforms have a long reach and are free. 

Don’t forget the classic, basic yard sign— but only after you check your town’s laws, as well as any HOA regulations, to make sure signs are allowed.

If you want maximum exposure, think about working with a New Mexico flat fee MLS company.

New Mexico flat fee MLS companies

Flat fee MLS companies can help New Mexico FSBO sellers by getting their listing onto the local Multiple Listing Service (MLS). This gets the listing seen by buyers’ agents and is automatically populated onto huge websites like Zillow, Redfin, and Realtor.com. 

These services cost much less than a full-service agent, but they typically don’t offer any services beyond a barebones listing. 

In New Mexico, this will cost you about $300 to $1,000. Our top picks for flat fee MLS companies in New Mexico are:

• For Sale by Owner New Mexico: Best for first-time FSBO sellers
• Affordable Realty Services: Best for premium flat fee services
• Congress Realty: Best for low-cost and simplicity

Read our in-depth guide to New Mexico’s flat fee MLS companies to decide which one works best for you.

Required New Mexico Seller Disclosures

New Mexico has pretty standard disclosure laws; sellers are required to disclose “all adverse material facts” to buyers. Disclosure forms must be provided to the buyer before the seller can sign the offer. And New Mexico does have a unique disclosure statute that requires sellers to provide buyers with official estimates of future property taxes. 

Most New Mexico sellers use this standard New Mexico Seller’s Disclosure Form. In this state, sellers are also required to disclose flood risk information on this FEMA Flood Risk Disclosure form. 

All U.S. sellers are required to disclose facts about lead-based paint.

You should make these disclosure forms available to buyers by having hard copies at showings, attaching them to the listing, and sending digital copies to any interested buyers.

4. Manage showings on your own

Managing and conducting showings is time-consuming even for an experienced agent. If you’re selling “For Sale by Owner” in New Mexico and handling showings by yourself, make sure you have a system to make things easier on yourself.

A free address book and calendar tool is invaluable to track showings and buyers. If you use a flat fee MLS company, many of them will provide showing management software.

Here are some proven tips on conducting your own home showings:

• For maximum efficiency, schedule showings back to back. This will also build competition between buyers.
• Consider using an electronic lockbox for secure, independent showings
• Try not to be present during showings.
• If you must be in the home during showings, don’t hover; your presence could inhibit buyers

Finally, print up documents for buyers to take home. Your fliers should include a profile of the home and your contact info. Consider attaching required disclosure, for buyers with serious interest. Be prepared to answer in-depth questions about the home before and after showings.

5. Review and negotiate offers

When buyers submit offers, they’ll be in the form of a purchase and sale agreement, also known as a buy-sell. In New Mexico, it should look something like this.

When you’re mulling offers, keep the following points in mind:

• Always read the entire text of the offer before signing, and make sure you’re clear on every point.
• Is it a financed offer or a cash offer? Many buyers prefer cash offers since they don’t come with the risk of financing falling through at the last minute.
• Review the buyer’s contingencies. If these conditions go unmet, the sale could fall through. You can also add your own contingencies.
• Is the buyer asking for repair credits? These are up for negotiation.
• If you want to submit a counteroffer, you can amend the sale agreement and return it to the buyer’s agent.
• Here are some proven negotiation strategies you can use.

In New Mexico, you’re not required to hire a real estate attorney to look over your New Mexico real estate contracts. However, if you’re selling FSBO in New Mexico, it’s advisable to consult an attorney to do a title search, provide title insurance, and make sure your contract doesn’t have any major holes.

6. Allow the buyer to conduct due diligence

The interlude between when the seller accepts the offer and the day of closing is called the due diligence period.

During this time, the buyer and their lender conduct:

• Mortgage underwriting
• Property title search
• The home inspection
• The home appraisal
• The final walkthrough

Any negotiations that result from these activities have to be resolved before you can move onto closing. 

This is also the period when either party can back out of the deal if their contingencies aren’t satisfied. If you want to walk away from the deal without a contingency trigger, consult with a real estate attorney to see what your options are. 

7. Close

The close date will be listed in the purchase agreement. On closing day, you may meet with the buyer, or you may have a separate closing. Closing is usually facilitated by a third party— typically a real estate broker or attorney, or the title company.

You’ll receive a closing statement a few days before closing. This document lays out all the fees associated with the sale, and who pays them.

On the actual day of closing, you’ll sign the finalized New Mexico for sale by owner contract, as well as all required legal and financial paperwork, and then transfer the deed to the buyer. They’ll also receive the house keys, and you’ll be paid. In New Mexico, you may have to wait up to four days to receive payment.

For sale by owner paperwork in New Mexico

Here’s a list of the New Mexico paperwork you’ll need to sell your home without a realtor.

• New Mexico Seller’s Disclosure Form
• Federal Lead-Based Paint Disclosure
• FEMA Flood Risk Disclosure
• New Mexico 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 New Mexico

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.

Related links

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 New Mexico: 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 New Mexico 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 to Sell Your House – The Ultimate Guide: Our guide breaks down the process of selling a house in 12 steps. We discuss how to find and choose a realtor, list your home for sale, review and negotiate offers, close, and calculate capital gains tax.