How to Sell a House Without a Realtor in Rhode Island

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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 Rhode Island averages 2.7% of the sale price. Considering a typical Rhode Island house is worth about $406,000, that’s a savings of $10,800.

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

If you’re considering FSBO in Rhode Island, 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 Rhode Island 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 Rhode Island
• 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 Rhode Island

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 $425	To price your home more accurately
Photography	$164	To compete with homes listed by agents
Staging	$2,500	To stand out to local buyers
Real estate attorney	$235 to $375 per hour	To assist with paperwork, contracts, and legal requirements
Flat fee MLS listing		To get listed on the MLS
Buyer’s agent commission	2.5% 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 Rhode Island, 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 Rhode Island, sellers pay an average of 2.7% to a listing agent. Considering the median home value in Rhode Island is $406,000, that amounts to $10,800. 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 Rhode Island 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, 12-step guide to selling a house. 

For Rhode Island FSBO sellers, here’s what you need to know.

1. Get your home ready to sell

Get your home looking its best before you put it up for sale by owner in RI. 

• Fix anything around the house that needs attention, like leaky faucets or loose doorknobs.
• Paint any areas that look dingy or aged.
• Freshen up the landscaping. In Rhode Island, consider well-adapted native flowers like purple milkweed or yellow wild indigo.
• Take care of big, expensive repairs like a leaky roof or an old hot water tank that can be a dealbreaker for many buyers.
• Thoroughly clean your home and declutter. 
• Remove half your furniture to make your home look open and roomy.

If you’re still not confident in your home’s appearance, consider using a professional home staging service. In Rhode Island, home staging costs an average of $1,529.

Once all your cleaning and upgrades are done, take your listing photos. If you don’t want to take them yourself, a professional photographer in Rhode Island costs an average of $140 per session.

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 get your home sale off to a great start. However, if you price it too high, many buyers will pass it by. If you price the home too low, buyers will assume there’s some hidden flaw.

To determine the right list price, we suggest using the following options:

Get a comparative market analysis (CMA)

A comparative market analysis (CMA) analyzes recent sales of homes that have features similar to yours and uses that information to suggest a list price for your home.

You can get your own comparative market analysis from a local real estate agent, as many offer them for free to clients. You can also get a CMA from a flat fee MLS company if you’re using one.

Or, you could create your own CMA. Be objective, and use as much data as you can gather.

Hire an appraiser 

Appraisals are typically considered to be a more official and reliable way to determine your home’s value because they’re more involved. During the due diligence period, your buyer’s lender will typically hire an appraisal to confirm the home’s value before approving the loan. 

A professional home appraiser will visit your home to inspect its size, condition, and location before producing a detailed appraisal report. In Rhode Island, a home appraisal costs an average of $300 to $435.

» LEARN: Should I get an appraisal before selling?

3. List and market your home

Before listing your home, review your local regulations on real estate advertising. It’s important to stay within the law while you sell your home.

Next, post your FSBO listing on free sites like:

• Craigslist
• ForSaleByOwner.com
• Facebook Marketplace
• The FSBO sections of Zillow or Trulia

Word of mouth can be tremendously effective, too—tell family, friends, and coworkers that you’re selling your home.

Social media platforms like Twitter, Facebook, Instagram, and Nextdoor are free ways to reach huge numbers of potential buyers. Many Rhode Island homes for sale by owner find buyers through social media.

Finally, put up a yard sign to let the community know your home is on the market. In Rhode Island, FSBO yard signs are legal but check with your city’s laws to make sure.

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

Rhode Island flat fee MLS companies

A flat fee MLS company will get your listing on the Multiple Listing Service (MLS), which is the main directory for home listings that’s only accessible by agents. From the MLS, your listing will also be populated onto big sites like Zillow, Redfin, and Realtor.com

These companies charge a flat fee, which is generally much less than the average realtor commission. But they typically don’t offer many services beyond getting your listing onto the MLS. 

In Rhode Island, a flat fee MLS listing will cost you about $80 to $1,000. Our top picks for flat fee MLS companies in Rhode Island are: 

• EntryOnly.com: Best for 24/7 service
• Houzeo: Best for online management
• Beycome: Best for a bargain

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

Required Rhode Island seller disclosures

Rhode Island’s disclosure law requires the seller to disclose any known defects before signing the purchase agreement. The standard Rhode Island seller’s disclosure form covers basics like major home systems as well as points like the presence of mold, certain home modifications, and whether the property’s on a floodplain or wetland.

Federal law also requires all U.S. home sellers to disclose the presence of lead-based paint. Sellers can use this federal disclosure form for lead-based paint. 

Make these completed forms available by having hard copies at showings, attaching them to your listing, and emailing copies to interested buyer’s agents.

4. Manage showings on your own

Hosting and managing home showings is a lot of work, and can be very time-consuming. Make things easier on yourself by coming up with a system and sticking to it. 

Use free software tools like Google Calendar that will allow you to track showings and consolidate buyer information. If you use a flat fee MLS company, they may provide tools to help you manage showings. 

Our best advice for managing showings is:

• Try not to be present during showings, as your presence can be inhibiting for buyers.
• If you must be there, stay out of sight.
• Schedule showings next to each other for your own convenience, and to build competition between buyers.
• Consider using a lockbox so agents can access the home for showings while you’re out. 

Print fliers containing listing info and your own contact information. Attach your disclosures, and put all documents in a high-traffic area like the kitchen. Buyers will likely have questions after each showing, so be prepared to answer them.

5. Review and negotiate offers

Buyers usually submit offers in the form of a purchase and sale agreement for RI.

Thoroughly evaluate any offers while considering the following questions:

• Does the seller request any contingencies? (You can also insert contingencies of your own.)
• Is the buyer asking for repair credits? You can negotiate the amount, or offer to do the repairs yourself.
• Is it a financed offer or is it a cash offer? Many sellers move cash offers to the front of the line, since they come with little risk.

If you want to counteroffer, simply amend the purchase agreement, and send it back. You can use these negotiation strategies to help you get a great deal.

According to relatively new 2020 Rhode Island real estate laws, a real estate attorney is required to examine the property’s title and write the property deed. This is the buyer’s responsibility, but the Rhode Island Supreme Court has made clear that they highly recommend both buyer and seller be represented by attorneys. 

Before signing, confirm that the buyer has received all required disclosures.

6. Allow the buyer to conduct due diligence

The period between offer acceptance and closing is the due diligence period. 

This is when the buyer or the buyer’s lender orders the:

• Home inspection
• Home appraisal
• Mortgage underwriting
• Property title search
• Final walkthrough

Depending on the results of the above, the buyer may want to enter negotiations or use a contingency to back out of the deal. If you want to back out of the deal, talk to an attorney about your options.

Once negotiations are settled, you can proceed to closing. 

7. Close

The date of the closing will be listed in the purchase agreement.

A third party like an attorney, title company or broker usually facilitates the closing. A few days before closing, you’ll receive a closing statement. This document lists all the fees associated with the sale, and who’s responsible for paying them.

At closing, you and the buyer will sign all required paperwork, and then the deed to the property is transferred to the buyer. They get house keys, and you get paid. In Rhode Island, buyers receive full payment on the same day as closing. 

For sale by owner paperwork in Rhode Island

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

• Seller Disclosure Form
• Lead-Based Paint Disclosure
• Flood Risk Disclosure

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 Rhode Island

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 Rhode Island: 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 Rhode Island 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.