How to sell a house by owner in Arizona
Interested in selling your Arizona home without a real estate agent? It’s possible, as it is in any state, but be prepared for a complicated and time-consuming process. When you go it alone as a seller, you have to do all the work a licensed agent would do yourself. It’s a lot to take on: Tasks include pricing, staging and marketing your home, as well as coordinating showings and negotiating contract terms, all without the support of a pro. Read on to find out more about how to sell in Arizona without a Realtor.
How to sell by owner in Arizona
When you opt for a FSBO sale, you’re responsible for all steps of the home sale process, from beginning to end. Here are some basic steps to follow:
Create a listing
The first thing you’ll need to do is create a compelling description of your home to draw buyers in. Setting an appropriate asking price is crucial — check comps in your local market, which are the prices of recently sold homes that are nearby and similar to yours, to get an idea of how much it’s worth. You could also try checking a few online home-value estimators, but for the most accurate assessment of fair market value, hire a home appraiser.
Your listing should include all the basic information about the property, such as age, square footage and number of bedrooms and bathrooms. Don’t forget to highlight unique selling points, such as a swimming pool or unique view. Information about the neighborhood and school district is also helpful, and if it’s part of a homeowners association, include info on that too.
Finally, quality listing photos have never been more important. According to a recent National Association of Realtors report, 100 percent of prospective buyers look at online listings, and you want to be sure to catch their eye with professional-quality images.
Market your property
Next it’s time to get that listing seen by house-hunters. The most effective way to market your listing is to have it placed on your local market’s MLS (short for multiple listing service), which aggregates current for-sale listings. These are typically only available to real estate agents, but there are services that will list your FSBO home on the MLS for a fee: In Arizona, try sites like Houzeo, Listed Simply or AZ Flat Fee.
You might also try flyers, social media and platforms like Craigslist or Facebook Marketplace. Just be careful about what kind of information you disclose on sites like these, especially if you still live in the house.
Coordinating showings with prospective buyers requires care as well, not to mention organization. And while you’re fielding home visits, you’ll need to keep the home clean and tidy so that it always looks its best for buyers who drop by to take a look.
Close a deal
Hopefully, you’ll soon have an offer or two. You may need to negotiate the terms of the sale to come to an agreement, so it helps to be comfortable with back-and-forth haggling over price, seller concessions and other potential sticking points.
Finally, real estate closings involve a lot of red tape and paperwork, and stakes are high if things are not done properly. As a FSBO seller, with no licensed agent to walk you through the process, it’s smart to hire a real estate attorney to review everything — especially the purchase contract — to make sure it’s correct, legally sound and protects your interests.
Required disclosures for Arizona home sellers
The Arizona housing market can differ greatly depending on whether you’re in a major market like Phoenix, a remote desert town or somewhere in-between. But one thing that applies to every market is disclosure: The state of Arizona requires home sellers to provide buyers with a written disclosure outlining any issues that may affect the value and desirability of the property, including “material defects” and the presence of liens or encumbrances. The Arizona Association of Realtors provides an eight-page, downloadable disclosure form that can be useful here.
In addition, under federal law, sellers must disclose any known lead paint hazards if the home was built before 1978.
Do I need a lawyer to sell my house in Arizona?
You’re not required to hire an attorney to sell your house in Arizona. However, it’s probably smart to do so anyway, to ensure that your interests are protected. Real estate sales involve a lot of complex paperwork, and with a big financial transaction like this, a mistake can be costly. It’s worth the money to be sure your interests are legally covered.
Pros and cons of selling a house by owner in Arizona
Pros
- Save money: FSBO sellers don’t have a listing agent, so they don’t have to pay a listing agent’s commission. This fee typically runs 2 to 3 percent of the home’s sale price, which can be significant. However, keep in mind that you’ll still have to pay the buyer’s agent’s commission.
- Move faster: Not having to wait on a Realtor to call you back, reply to your emails or texts, or fit your showings into their schedule can accelerate your sale process. You work on your own timeline.
- Be your own boss: Similarly, without an agent running the show, you run it yourself and can do everything your own way.
Cons
- No professional guidance: Pricing, marketing and showing your home can be daunting tasks without a licensed pro by your side. Not having a seasoned local expert to guide you can be detrimental, especially if you’re not an experienced seller.
- Fewer potential buyers: Realtors are professional marketers. Without one working to introduce your home to house-hunters and fellow agents, fewer people may see your listing, which means a smaller pool of potential buyers.
- Potentially lower profits: If you’re not an expert negotiator or don’t understand your local market well, you might end up leaving money on the table. In fact, according to a National Association of Realtors analysis, FSBO listings typically sell for nearly $100,000 less than agent-assisted sales.
FAQs
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Yes, it’s possible to sell a house in Arizona without a Realtor. “For sale by owner” listings are fairly common, but if you’re considering one, make sure you’re prepared for how much work you’ll have to put in. You’ll be responsible for everything from determining an appropriate sale price to creating a compelling listing to scheduling showings and negotiating the terms of the contract.
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No, Arizona law does not require you to hire a lawyer in order to sell your house. But it’s wise to do so anyway, to make sure your interests are protected in the transaction — especially if you’re going it alone with no real estate agent.
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