Should I use a realtor? | What does a realtor do in Oklahoma? | Cost of selling without a realtor | Oklahoma real estate regulations | How to sell without a realtor | Alternatives to selling without a realtor | FAQs
Selling your home without a realtor means you won’t have to pay a listing commission, which in Oklahoma averages 2.9% of the sale price. Considering a typical Oklahoma house is worth about $173,000, that’s a savings of $5,072.
However, trying to sell a home For Sale by Owner (FSBO) can be tough. You’ll be responsible for every step of the selling process, which can take up a lot of your time and energy.
In the end, selling a house without a real estate agent isn’t worth it for most homeowners in Oklahoma. Many sellers don’t even realize that there are low commission real estate companies that offer professional assistance at reduced prices.
If you’re considering selling a house without a realtor in Oklahoma, 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 (2.9% on average in Oklahoma). But in exchange for those savings, you’ll have to do everything from advertising your home to completing legal paperwork to negotiating the final deal.
- In most cases, you’ll still need to offer a buyer’s agent commission. 3.0% is typical in Oklahoma.
- 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?
Not sure if FSBO is right for you? Use the checklists below to find out if selling your Oklahoma home without a realtor is the best option for your situation.
✅ Selling without an agent might be right for you if…
You want to save on commission.
When you sell without a realtor, you won’t pay a listing agent commission. In Oklahoma, that puts 2.9% of your final sale price back in your pocket. However, you will still need to offer a competitive buyer’s agent commission (3.0% is typical in Oklahoma).
You already have a buyer.
If you’ve already lined up a deal with a friend or family member, there’s no need to pay an agent to list your home on the MLS, host open houses, or negotiate on your behalf.
You have lots of time to spare.
Selling a house is a lot of work! You’ll need time to take on all the tasks a realtor normally handles.
You’re in a hot seller’s market.
If you’re in a high-demand area with low inventory, it can be easy to find a buyer without an agent’s help. With a flat fee MLS package or “For Sale” in your yard, it’s possible to find several potential buyers in no time.
Here’s how fast and for how much homes in Oklahoma are currently selling for so you see how your local market compares.
|Avg. days on market||Avg. listing price|
🚫 Selling without a realtor might not be right for you if…
You’re short on time.
If you’re on a tight deadline, hiring an agent might be your best option. Unless you already have a buyer lined up, you’ll have to squeeze home selling tasks into your nights and weekends — or make sacrifices elsewhere in your schedule.
You’ve never sold a home in Oklahoma.
Without an agent, you won’t have any professional guidance about increasing your property’s curb appeal, pricing your home, or choosing the best offer.
We can’t say this enough: If you’ve never been through a Oklahoma home sale or are facing a complicated transaction, do not try it without a real estate agent.
Making one mistake could cost you tens of thousands of dollars or create some serious legal headaches for you.
You want to sell for more money.
There are conflicting studies about whether FSBO properties sell for less compared to those sold by agents.
On the one hand, FSBO sellers are more likely to sell to friends or family and offer them a good deal on the home. This lowers the average price of homes sold without a realtor.
However, if a FSBO seller is inexperienced with pricing a home, they can lose money by pricing too low or scare away buyers by pricing too high.
There are other ways to save on commissions if selling your house without a realtor sounds too risky or stressful. You can work with a discount broker, save money, and not have to deal with the stress of selling without a realtor.
What does a realtor do in Oklahoma?
Oklahoma realtors are familiar with all the rules and regulations that can easily overwhelm first-time sellers. An experienced agent can take care of several important home-selling tasks for you, from listing your property on the MLS to negotiating with buyers to handling paperwork.
Even if you’re in a hot seller’s market, selling a house can quickly become like a full-time job. If you don’t hire an agent, you’ll be responsible for managing every step of the selling process on your own.
Prices homes competitively
Agents will provide you with a comparative market analysis (CMA) to accurately price your home. They look at the popularity of your housing market, how much similar properties are selling for, new upgrades you’ve added to the home, and other variable factors.
But if you’re earlier in the home selling process and just need a general idea of what your house is worth, you may not need to contact a realtor. Try online home value estimators instead.
To get an idea of how much home values can vary, here’s a comparison of different sized homes value in Oklahoma.
|Home size||Home value in Oklahoma|
Before you list your home without a realtor, consider hiring an appraiser . A state-certified appraiser will take a look at your home’s location, condition, and amenities to estimate your home’s fair market value.
Pricing your house appropriately is one of the most important aspects of selling your property, so it’s worth it to get an objective report.
Connects you with local pros
Experienced agents have networks of the best professionals in the area. They can connect you with handymen, stagers, photographers, and other service providers so you don’t have to track down reliable pros on your own.
Lists your home
Working with an agent will get your property listed on the multiple listing service (MLS) database. This site can only be accessed by real estate agents, who use it to find homes for their clients. Without a realtor, you’ll either need to pay a flat fee MLS company to list your property on the database or forgo this marketing opportunity altogether.
Markets and negotiates
An agent can market your home, schedule open houses, reach out to potential buyers, and follow up with people who toured your home.
Agents will also negotiate with prospective buyers, which can be an intimidating process for FSBO sellers. It can be difficult for homeowners to view their houses objectively, so having a professional take care of negotiations can lead to the best outcomes for both parties.
Agents can take care of all the paperwork required to complete the real estate transaction, which can be a huge relief for sellers. It’s easy to get overwhelmed at the sheer number of documents you’ll need to finalize the transaction.
Do I need a real estate attorney in Oklahoma?
No, sellers in Oklahoma are not required to hire a real estate attorney. However, having a legal professional on your side can be helpful as you’re reviewing offers or completing paperwork.
Cost of selling a house without a realtor in Oklahoma
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||$370 to $450||To price your home more accurately|
|Photography||$125||To compete with homes listed by agents|
|Staging||#DIV/0!||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||$200 to $1,500||To get listed on the MLS|
|Buyer’s agent commission||3.0% of sale price||To compensate the agent that represents the buyer (it’s customary for the seller to pay)|
|Transfer tax||$0.75 per $500 of sale price||To pay the county and the state of Oklahoma for the title transfer|
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 Oklahoma, 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 Oklahoma, sellers pay an average of 2.9% to a listing agent. Considering the median home value in Oklahoma is $173,000, that amounts to $5,072. 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.
Oklahoma regulations FSBO sellers should know
Real estate regulations can vary from state to state, and even county to county. Whether you’re selling a family home in Bartlesville or a stylish condo in Tulsa, you’ll need to make sure you follow the federal, state, and county guidelines to avoid fines or other penalties.
Here are some of the key facts you need to know before listing your home in Oklahoma — whether you choose to sell with or without a realtor.
Oklahoma’s Residential Property Condition Disclosure Act states that all sellers who have lived in the home must fill out a disclosure statement to the best of their knowledge. Buyers are ultimately responsible for doing their due diligence before purchasing a property.
Oklahoma’s Real Estate Commission created a comprehensive disclosure document to make the disclosure process easier. This form includes questions about the following:
- Air conditioning, electrical, and heating systems
- Any environmental hazards, such as radon or asbestos
- Appliances included with the property
- Flood damage and flood zoning information
- HOA regulations and fees
- Major storm damage
- Past termite or pest infestations
- Renovations made to the property
- Structural defects, such as a cracked foundation or a leaky roof
- Water and sewage systems
At the end of the form, there’s space for the seller to add any additional information that wasn’t specifically covered already. If the seller becomes aware of a new issue after giving the disclosure document to the buyer, they must inform them as soon as possible.
It’s important to note that the state of Oklahoma does not require sellers to disclose if the property was “psychologically impacted” by:
- A homicide, suicide, or other death
- A prior resident who had a disease that’s unlikely to be transmitted through occupancy, such as HIV or AIDS
If a buyer asks about these topics, the seller can answer honestly or simply explain that they’re not able to respond.
Does Oklahoma have a transfer tax?
Yes, and it costs $0.75 per $500 of the property’s sale price. This fee can be paid for by the buyer or the seller.
For every $0.75 of revenue:
- $0.025 goes to the county clerk for collecting the tax
- $0.525 goes to the State General Revenue Fund
- $0.20 goes to the county general fund
FSBO marketing rules
FSBO sellers in Oklahoma are allowed to put “For Sale” signs in their yards. However, sign ordinances vary slightly by city, so make sure you check for any local regulations in your area.
For example, here’s how sign regulations vary between Oklahoma City and Norman:
|“For Sale” signs in Oklahoma City||“For Sale” signs in Norman|
|“For Sale” signs are only allowed on the actual property being sold||Signs must be located on private property|
|Signs can’t exceed 12 sq ft in area||Signs can’t exceed 12 sq ft in area|
|Signs can’t exceed 5 ft in height||Signs can’t exceed 6 ft in height|
|Signs can’t be illuminated in any way||Signs can’t be illuminated in any way|
|Only 1 sign allowed per street frontage||Only 1 sign allowed per street frontage|
|Signs must be removed within 10 days of the property being sold||Signs must be removed within 7 days of the property being sold|
9 steps to sell a home in Oklahoma without a realtor
Selling your home without a realtor can be intimidating. Here, we’ve created a step-by-step guide for you to rely on and make the selling process less daunting.
🏡 How to get your home ready to sell
1. Make basic repairs
Simple repairs, such as fixing a squeaky door or repairing dents in the drywall, can greatly improve the aesthetic appeal of your house. Outdoors, a fresh coat of paint, and some basic landscaping work can boost curb appeal.
2. Stage the rooms
You can hire a professional stager to get your home picture-perfect for showings, but this can be expensive. While prices vary from city to city, in Oklahoma it costs an average of #DIV/0! to stage a house.
3. Photograph the home
High-quality photos of your property can make a huge difference when attracting buyers. Prices can vary based on your location, but in Oklahoma you can expect to pay $125 on average for a session with a professional photographer.
✍ How to list your home for sale
4. Get an appraisal
Pricing your house can be difficult without an agent’s guidance. Getting a professional appraisal done can make it easier to estimate your home’s fair market value based on its condition, location, and other factors. In Oklahoma, an appraisal costs $370 to $450.
» MORE: Tools for pricing your home
5. Advertise your home
In Oklahoma, this will cost you $200 to $1,500, but without a realtor, it’s the only way to get your property listed on the MLS — which is how most buyers find homes.
📅 How to show your home
6. Get organized
Once interested buyers start contacting you, use a digital calendar to keep everything organized. Schedule open house times, set reminders for buyer tours, and take notes of each visitor who comes through your door.
When you schedule tours with individual buyers, make sure they have a pre-approval letter from a mortgage lender first. Pre-approved buyers know they’re qualified to purchase a house, so they’re more likely to make an offer.
7. Don’t hover
During open houses and showings, try to avoid following people from room to room. Allow them to take their time so they can appreciate everything your house has to offer.
It’s recommended to stay in a common area — like the living room or kitchen — so visitors can easily find you if they have questions.
🤝 How to accept an offer and close
8. Know your priorities
Make sure to consider more than the sales amount as you’re reviewing offers. Keep your own priorities in mind, such as your preferred closing date or your renovation budget.
For example, if a buyer is willing to waive certain contingencies, that could save you money on expensive home repairs.
» LEARN: Common home buying contingencies
9. Use a title and/or escrow company
To make sure the closing process goes smoothly, find a title or escrow company to oversee the closing. The third-party agency will help you and your buyer complete the required paperwork, collect the closing fees, and handle the title transfer.
Alternatives to selling without a realtor in Oklahoma
Most sellers come to realize that trying to sell without an agent isn’t worth the hassle. If you think you’ll need some help selling your house, here are a few other low-cost options to consider.
Oklahoma flat fee MLS companies
If you’re confident about selling your home on your own, you might benefit from using a flat fee MLS company to increase the visibility of your property.
Some of the best flat fee MLS agencies in Oklahoma include OK by Owner, Trinity Properties, and Houzeo. Packages range from $179 to $399, depending on how many services you need.
|OK by Owner||Trinity Properties||Houzeo|
|Number of Photos||36||36||6 to max allowed|
|MLS Listing||Until sold||6 months||3 months to until sold|
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.
For discount broker services, we highly recommend our friends at Clever! Clever pre-negotiates with top agents to offer you the lowest commission rates without compromising on service quality.
Frequently asked questions
Do I need a real estate attorney to sell a house in Oklahoma?
No, sellers aren't required to hire a real estate attorney in Oklahoma. However, it can be a smart move to have legal advice when you're reviewing offers or filling out paperwork.
Is there a transfer tax in Oklahoma?
Yes! The transfer tax is $0.75 for every $500 of the property's sale price. Either the buyer or the seller can pay this fee.
Still wondering if selling without a realtor is the right move for you? Check out these resources for more information:
Average Real Estate Commission in Oklahoma: What’s Fair in 2022?: Even if you end up selling your home on your own, you should still offer commission to your buyer’s agent. Read on to learn what Oklahoma realtors expect to earn on an average sale in 2022.
Top We Buy Houses Companies in Oklahoma REVEALED: If you need to sell your property as quickly as possible, a We Buy Houses company could be a good option for you. Find out which companies in Oklahoma might want to buy your home!
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.