A Complete For Sale By Owner Guide.
In 2020, 8% of homes sold in the US were sold without a real estate agent. Our for sale by owner guide will walk you through how to successfully sell your home on your own.

A Complete For Sale By Owner Guide.
In 2020, 8% of homes sold in the US were sold without a real estate agent. Our for sale by owner guide will walk you through how to successfully sell your home on your own.

written by
- Travis French
Update on
The following is from our 17-page For Sale By Owner Guide. The complete guide contains more detailed information, sample contracts, tips, and more. Download the full guide.
Selling a home can be expensive. Some homeowners choose to sell their homes without a Realtor to save money. If you’ve considered selling For Sale By Owner, there’s likely much more to the process than you’ve considered.
The number of For Sale By Owner (FSBO) sellers has been shrinking for over three decades. In 1981, FSBO home sales accounted for 15% of the market. This compares to just 8% in 2020.
Not surprisingly, sellers choose not to use an agent because they want to avoid paying a commission. The majority, 56%, knew the buyer before the transaction.
When surveyed by the National Association of REALTORS®, 32% of FSBO sellers used an appraiser to determine the value of their home, while 15% sold for the amount that covers what they owed.
When asked the most challenging task for FSBO sellers, 12% said preparing or fixing up the home for sale. 10% of FSBO sellers had difficulty understanding the paperwork, and 9% struggled with pricing the house correctly.
Throughout this FSBO guide, you’ll learn from professional real estate agents the proper steps to navigate pricing, prepare for the sale and understand the paperwork involved.
All advice is based on regulations and laws in the State of Nevada and Las Vegas Realtors® association. Consult an attorney or licensed agent prior to selling a home.

Preparing your home for listing.
Regardless if you’re selling FSBO or with an agent, the first step remains the same. It would be best to prepare your home to be “show ready.”
Read our ‘Top 5 home selling tips from professional agents’ for more details.
Depersonalize your house
Real estate agents call it home when you’re buying and property (or house) when you’re selling. Home has a sense of feeling and comfort, whereas a house is just an object.
Sellers need to detach themselves from their property. While emotionally may be more difficult, starting with depersonalizing is a helpful first step.
Start with removing your family photos and memorabilia. Buyers need to be able to picture themselves in the home, and a wall of family photos makes it difficult.
It’s time to stop living in your home and prepare it for sale.
Declutter and deep clean
Clear off countertops, that bookshelf with knick-knacks, and the kids or pet toys across the loft.
The mixer you never use, the drying rack next to the sink, shampoos piled up in the shower corner, put it all away. Decorative items are great; you don’t need to make the house look empty, just more spacious.
Your next buyer may not be a drinker, so the top shelf liquor you have displayed becomes wasted space instead of their dream coffee bar.
Once you’re finished decluttering, hire professional cleaners to do a deep and thorough cleaning. After all of this, you’ll be show-ready.
Take professional photos
Photos sell homes. If you’ve been browsing on Zillow enough, you have probably seen the obligatory ‘agent in the bathroom mirror’ photo.
When marketing your home, photos are not a place to be cheap. This means no iPhone photos.
Luckily, there are plenty of available resources for professional photos.
In Las Vegas, Wild Dog Digital is a great and inexpensive place to start. Packages begin at around $99, and you can add virtual tours, 3D models, and drone footage à la carte.
For high-end listings, professional photographer/videographers like Modern Public Media can help with cinematic video walkthroughs and world-class photos.
We’ve watched firsthand as our clients have scrolled through listings and skipped very nice homes because the initial photo didn’t catch their eye.
In a world of Instagram and Facebook, consumers are more accustomed to seeing high-resolution quality photos. Your listing photos must reach that standard.
Writing your listing description.
Speak about your property in features. Writing a listing description is advertising. If the photos are what draws them in, the description validates what they’re seeing and reassures them it’s a “must-see”.
Always lead with an attention-grabbing headline. “Stunningly remodeled single-story Summerlin home.”
Much like in ad copywriting the headline should make the consumer stop to read more. Lead with the important details the buyer is looking for. That could be your neighborhood or the resort-style pool.
Next, explain the property using features “This charming 3 bedroom 2.5 bath single story home features wood-like tile flooring throughout, dark granite kitchen countertops, and a stunning stacked stone fireplace. Start your morning in the oversized custom shower with dual shower heads.”
It’s ok if your house doesn’t have the flashiest of features. Attributes like natural lighting, the kitchen being open to the living room, or tons of storage can’t easily be changed. For that reason, they sit high on buyers’ must-haves list.
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Determine a sales price.
Zillow’s Zestimate creates the illusion that pricing a home accurately is easy. It continues to be one of the most significant troubles for most new real estate agents.
With access to the Multiple Listing Service (MLS), agents easily access the information needed to comp a property.
That certainly doesn’t mean you won’t be able to value your house correctly. However, it means your job is more challenging.
How to “comp” your home.
Learning to find and adjust comparables properly takes time and practice. The fundamentals can be easy, however.
Finding good comps is easiest in a track home community. With so many of the same models, you need to find three similar models sold within six months.
If three exact models haven’t sold, find the closest in size, condition, and upgrades.
Appraisers generally use between 20% to 25% of the total price per square foot for extra square footage, with single-story homes receiving the high end of the range.
For example, if the comparable homes are selling for $300 per square foot, and your house is 250 square feet larger, an appraiser will add $18,750 in value for the extra square feet (25% of $300 multiplied by 250 sqft)
If a home in your neighborhood of like quality and upgrades sold for $300,000 and is 200 sqft smaller, you could estimate your home’s value to be $310,000 to $315,000.
If two exact homes sold within a small time frame from each other, and one sold $10,000 higher, look through the photos and find the difference. If the model that sold for more only has an updated kitchen, you now know the value of that upgrade is $10,000.
If you have a pool and can’t find any pool comps, appraisers will often use $25,000 to $35,000 as the base amount, even if the original cost to install was $100,000.
Visiting Zillow and filtering recent sales by date and square footage is a good start. Stay within 1 mile of your property unless the home is unique and no comparables exist nearby.
Remember, you can’t choose what comparables you want to use because they work in your favor. Stay close in proximity and sales date first and foremost.

Where do you start? With a complimentary home valuation.
Receive a custom home valuation prepared by one of our local professional home advisors.
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Where to advertise your listing.
51% of buyers found the home they eventually purchased online. 97% used the internet at some point during their home search.
Zillow
Your first start should be Zillow. It’s the #1 real estate website and allows you to list your house for sale by owner.
Zillow has stated its algorithms are usually within 30% of the final sales price. Only use the Zestimate as a ballpark to begin your comparable search.
Social Media
Agents rely on their sphere of influence to spread the word of new listings, and you should too. Post your home across trusted social media outlets and ask friends to share it.
Classified Ads
While much less common, sites like Craigslist and Nextdoor allow you to post anything for sale online, including homes.
Yard Sign
Let your neighbors and their visitors see your home is for sale. You can purchase For Sale signs from Home Depot or Lowes. Be sure to check your HOA’s policy on signs.
FSBO/Flat fee sites
If you’re going to spend money, we advise you to work with an agent. However, there are sites that you can pay, and they will list your home on the MLS.
You will become a sales lead for Realtors.
There are many styles of REALTORS®. Some rely on referrals, others cold calling and soliciting. For Sale By Owner leads and expired listings are the two most significant sources of leads for the soliciting agents.
This means you should expect to get phone calls or door knocks. Most work off similar scripts and have adapted the script for their use over time.
Regardless, all roads lead to an in-home meeting. If you are set on not using a REALTOR®, be cautious not to fall into their convincing stories. If they have buyers, they can bring them by for a showing.
The moment the agent hangs up with you, they immediately call the next lead. If an agent wants to work with you, they should be happy to do the leg work to show you.
Ask for a marketing presentation to be sent to you via FedEx. You’ll quickly see how motivated they are.
While you have the agents captive, ask their thoughts on your pricing and photos. This is an excellent opportunity to get some feedback, but it’s likely they don’t have your information in front of them.

Showings and buyers agents.
You’ve gained interest through your professional photographs and a well-written description. Now, buyers want to view your house.
Realtors® qualify buyers by asking them to obtain a pre-approval from a lender. You should too.
If buyers reach out to you directly, first ask if they are working with a Realtor since they may have to continue contractually. If not, ask for a pre-approval.
Safety is an important factor here, and showings without an agent are very risky. The more information you can gather, the better.
Buyers’ agents will ask for commission.
If a Realtor has an interested buyer, they will ask for a commission.
You are not obligated to pay it. However, that means their buyer may have to pay the commission. If so, buying your home may cost them 2%-3% more in the long run, making it far less appealing.
Consider a commission amount you feel is worth it for all parties, and stay firm.
Showings are essential; make sure you give buyers time and space.
Buyers are uncomfortable with sellers in the home during showings. If there isn’t a licensed agent present, that’s not an option.
So, become an agent. Show features, tell the potential buyer the livable square footage, lot square footage, point out your property’s best details, and go slow. It would be best if you gave them time to imagine themselves living there.
If you recently replaced something, let them know. A brand new water heater, new microwave, anything that may save them the trouble of replacing for many more years.
The feature you dislike the most in your house may be their favorite. Much like your description, keep to the facts.
Safety Tip
Ask agents for their name and license number (not public ID) and ensure they are in “active” status in the Nevada Real Estate Divisions active realtor search. When they arrive at the door double-check the information matches their business card.
Business cards are easy to make, don’t trust the brokerage phone number on the card; search it in google and call directly from the google results.
Congratulations! You received an offer.
You can reference a sample Residential Purchase Agreement in the complete For Sale By Owner Guide. The agreement is pre-filled with the industry average contingencies and fee schedules. You can compare the sample against the offers you receive. Contracts and local industry standards range from each city. If you’re outside of Clark County, NV, you should consult a professional in your area.How much did they offer? How are they purchasing?
The first page addresses the purchase price and financing information. You’ll see what type of financing the buyer will be using on this page. Most commonly, FHA, Conventional, VA, or cash.
If the buyer is using a loan, page 1 will also show you the exact amount of the down payment they are making.
How long are the contingency periods?
Contingency periods are how long the buyer has to complete each item. The most common contingencies are Appraisal, loan, and due diligence.
Contingency periods begin the day following an accepted offer. If a condition is not met within that time, the buyer has a right to cancel and receive a full refund of their earnest money deposit (EMD).
During their due diligence period, buyers have the right to cancel anytime, for any reason.
A typical Due diligence period is 10-12 days. This gives buyers time to perform an inspection by a licensed home inspector. The inspector prepares an inspection report, and the buyer can request items to be fixed or replaced.
The Residential Purchase Agreement specifically states the buyer may request non-cosmetic mechanical issues that may affect the use or value of the home.Appraisal contingency can range from 18-25 days. In busy markets, appraisers can fall behind, so the lender usually determines the appropriate range based on recently completed files.
A Loan contingency is a timeframe a lender needs to approve a borrower fully. Usually, this takes 21-25 days.
Unlike pre-approval, a loan is fully approved when all documentation is collected and reviewed, and an underwriter approves the file. This is when the lender receives a “clear to close.”
Did they ask for closing cost contributions?
Page 5 D. Closing Fees. This lists the amount or percent the buyer wants you to contribute towards their closing costs.
If a buyer needs help with their closing costs, it’s very common for the buyer to offer more and receive the difference in contribution.
When do they plan on closing on the purchase?
Close of Escrow is the date the sale of your house will be completed. 30 days closing is standard unless they are cash buyers.
Since cash buyers have no appraisal or loan contingency, they can usually close in as quick as 10-15 days.
The title and escrow process.
Title companies and their escrow officers play an essential role in the home buying and selling process.
Title companies act as a neutral 3rd party that helps each side through the transaction by following the purchase agreement terms. They also handle the collection and disbursement of funds, like the earnest deposit, down payment, and loan.
On closing day, the escrow officer helps each party sign documents and then sends the file to the county to officially record the sale.
Title companies also complete a full title search to verify the title is clean and transferrable. With a clear title, they issue a title insurance policy that protects the buyer and seller from litigation if a claim of ownership arises in the future (former spouses, business partners, contractors, etc.).
Common Interest Community (CIC) resale package and demand statement.
If you’re not in a Home Owners Association, this step won’t apply. If you are, the Resale Package is a detailed breakdown of your HOA communities bylaws, guidelines, and annual budget.
From street parking to next year’s projected maintenance cost, a resale package provides buyers with what to expect while living in the community.
It’s also Nevada state law the resale package is paid for by the seller and delivered to the new buyer within 15 days of offer acceptance. Buyers then have five days to review.
The Demand Statement lists past payments and any unpaid obligations (fines, penalties, interest, collection costs, foreclosure fees, attorney’s fees, etc.) currently due from the seller.
The HOA management company or escrow office can point you in the right direction for where to order the resale package. Most HOA’s use online services for orders. Like, getdocsnow.com.
Important deadlines.
If not noted otherwise, all number of days are from offer acceptance.
Throughout the contract, you’ll see deadlines that move from calendar to business days. Business days exclude Saturdays & Sundays and federal legal holidays or days in which banking institutions are closed by law.
If you miss deadlines, buyers have the right to cancel.
There are multiple ways a buyer can cancel and receive a full refund of their earnest deposit.
Need help with any terms? Use our 50 real estate terms to know as a reference.
It’s important to meet your deadlines so a buyer can’t cancel and keep their EMD.
On closing day.
The big day is finally coming. The sale of your property is closing soon.
Is it ok to sign documents early?
It’s common for sellers to sign their documents earlier than buyers. Since most buyers have large loan documents that must be prepared, buyers will sign 24 to 48 hours before closing, sometimes even the day of.
You should feel comfortable signing as long as the lender has confirmed they have the clear to close.
When will you receive the proceeds?
Before closing and after all parties sign, the escrow company will collect all monies owed from the buyer, and the lender will wire the loan proceeds to escrow.
Next, the escrow officer sends the deed to the county recorder’s office. The sale is officially completed when the Clark County Recorders (or recorder of your county) approves and publishes the deed as recorded.
The title company will issue a check or a wire transfer for your proceeds within 24-48 hours of closing.
In conclusion.
If you’re confident in your price and the process, you can undoubtedly save thousands on commission. However, if you misprice your property, that can cost you thousands.
In the end, selling a home is business. Your net proceeds and peace of mind are all that matter.
If you aren’t confident, don’t let your disdain for Realtors cost you in the end. Many of us care and will work hard for you.
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Good luck with your home sale. First&Sold is always here if you need anything.