How to Sell a House By Owner in Idaho
Are you preparing to sell your Idaho home? Some intrepid homeowners in the Gem State are eager to take the reins of their home sale and figure out how to sell a house by owner. However, their numbers are few.
With millions of U.S. homes sold each year, only about 7% of sellers choose to list “For Sale By Owner” (FSBO). Of those that do, nearly 60% already know the buyer, according to data from the National Association of Realtors (NAR).
In this guide to selling FSBO in Idaho, we’ll cover the steps to sell your house by owner — some of which might be harder than you think. We’ll also provide an overview of the full process to prep, market, and close on your home without the assistance of a traditional real estate agent.
Editor’s note: No matter how you choose to sell your home, if you’d like to consult with a real estate agent first, HomeLight can introduce you to top-rated professionals in your Idaho market. Based on sales data, the top 5% of agents sell homes for 10% or more than average agents.
How does selling by owner (FSBO) work in Idaho?
Disclaimer: This post is intended for educational purposes. HomeLight recommends you research your area’s real estate regulations and consult a trusted advisor.
FSBO (pronounced fizz-bow) is a method of selling your home without a Realtor, known as a listing agent. In a FSBO transaction, the seller assumes the responsibilities that would normally fall to their agent, such as pricing the home, marketing it to home shoppers, arranging showings, and negotiating the deal.
In an agent-assisted sale, the seller traditionally pays a commission of around 6% of the sale price, which is then most often split 50/50 with the buyer’s agent. That 6% is deducted from the seller’s proceeds at closing. By selling FSBO, a seller can skip the cost of the listing agent’s commission (around 3%*), though they may still need to offer a buyer’s agent commission.
