When the time comes to move, you want the highest proceeds from your home sale. It’s likely you need these funds to help purchase your next house, so every penny counts. To save on agent commissions, some enterprising homeowners in Connecticut decide to take control of their home sale and figure out how to sell a house by owner. While millions of homes are sold annually, only about 7% of sellers choose the “For Sale By Owner” (FSBO) route. Interestingly, nearly 60% of these sellers already knew the buyer, according to the National Association of Realtors (NAR). In this guide to selling FSBO in Connecticut, we’ll explore the challenges you might face selling by owner in the Constitution State. We’ll also provide a comprehensive overview of the entire process of preparing, marketing, and closing the sale of your home without the help of a real estate agent. FSBO is a method of selling your house without hiring a listing agent. In a FSBO transaction, the seller assumes the responsibilities that would normally fall to their real; estate agent, such as pricing the home, marketing it to potential buyers, arranging showings, and negotiating the final sale agreement. In an agent-assisted sale, the seller traditionally pays a Realtor fee or commission amounting to about 6% of the property’s sale price, which is then most typically 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 remove the expense of the listing agent’s commission (which is about 3%), though they may still need to offer a buyer’s agent commission.How does selling by owner (FSBO) work in Connecticut?
