How to Sell a House By Owner in Massachusetts
When you’re moving, every penny counts. You want the highest proceeds from your home sale, which you’ll need for the new house. Some ambitious homeowners in Massachusetts decide to take the helm of their home sale and figure out how to sell a house by owner.
But the DIY home-sale path is not for everyone. Among the millions of homes sold each year, only a small portion of sellers — only about 7% — choose to list “For Sale By Owner,” or FSBO. Of those, 57% already know the buyer of the property, according to the National Association of Realtors (NAR).
In this guide to selling FSBO in Massachusetts, we’ll cover all the aspects of selling by owner in the Bay State, including the steps that might be more challenging than they appear. We’ll also provide an overview of the process for preparing and marketing your home and closing the sale without the assistance of a 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 Massachusetts 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 Massachusetts?
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 the help of a hired listing agent. In a FSBO sale, the seller assumes the responsibilities that would normally fall to their agent, such as pricing the home, marketing it to potential buyers, arranging showings, and negotiating the purchase agreement.
In an agent-assisted sale, the seller traditionally pays a commission amounting to roughly 6% of the sale price, which is often split 50/50 with the buyer’s real estate agent. That 6% is deducted from the seller’s proceeds at closing. By selling FSBO, a seller can eliminate the cost of the listing agent’s commission (roughly 3%*), though they may still need to offer a buyer’s agent commission.
