Key takeaways

  • Connecticut does not require that you hire a Realtor in order to sell a home, but it does require you to hire a real estate attorney.
  • Opting to take the for sale by owner approach, known as FSBO, allows you to avoid paying a selling agent's commission.
  • But FSBO transactions are also a lot of work and a big time commitment, so be prepared.

If you’re thinking of selling your home in the Constitution State but are not onboard with paying a real estate agent’s commission, you could try the DIY route instead. Selling your home yourself, without the help of an agent, is known as a “for sale by owner” or FSBO transaction.

Going the FSBO route eliminates the need to pay a seller’s agent commission, so most people who do it are looking to save money. But there’s more to consider: It takes a lot of work to sell a home on your own. Everything from researching prices to hosting showings to negotiating a deal will be all your responsibility. And without a pro to help you negotiate the best deal possible, you could end up making less money on the sale. Here’s what to know about selling your house by owner in Connecticut.

Selling a house without a Realtor in Connecticut

In Connecticut or any other state, selling a house without a real estate agent means you’ll have to handle numerous tasks on your own. From drafting the property listing to completing the closing paperwork, here’s the work that lies ahead.

Write your listing

A listing is the key tool used to attract prospective buyers, so creating a compelling listing for your home is critical. You’ll want to include all the basic details, like the year the property was built and the home’s square footage and number of bedrooms and bathrooms. It’s also important to highlight any unique or particularly appealing factors about the home. Is it in a top school district? Does it have a pool or solar panels? Perhaps you recently renovated the kitchen? These are all features to emphasize in your write-up. In addition, in the southern part of the state, commute time to New York City may be a factor to consider.

High-quality photos are equally important. With many prospective buyers searching for homes online, good photos can keep them from scrolling past your listing without even stopping to consider it.

The asking price for your property is also obviously critical. And to determine the correct number, it’s important to do your research. Look carefully at your local market conditions and the asking or selling prices for nearby properties that are similar to yours. Try to set aside any emotional attachment to the property as your home and price it as objectively and realistically as possible. A price that’s too high could scare off potential buyers, or eliminate it from their search parameters, while pricing too low could potentially leave money on the table.

Market your home

Marketing takes many forms. For starters, you can promote your home listing on social media and other online platforms, such as Craigslist and Facebook Marketplace. (Just take care about what kind of information you share online, especially if you’re still living there.)

But the best way to spread the word about your home is to list it on the local MLS, or multiple listing service. Typically only real estate professionals have access to this database of for-sale homes, but there are various companies that will list FSBO homes on the MLS for a fee. These usually offer a very basic listing-only package, as well as more extensive levels of service at higher price points. For homeowners in Connecticut, the options include such platforms as ISoldMyHouse.com, Houzeo, FSBO.com, Snap Flat Fee and Unreal Estate. MLS listings are typically syndicated to larger consumer sites like Realtor.com and Zillow as well.

The marketing process includes another step as well: in-home showings. This could mean scheduling showings by appointment or hosting a few open houses, or both. Before opening the doors to prospective buyers, be sure your house is clean and tidy so it can be seen in its best light. And always use caution when letting strangers into your home.

Seal the deal

Negotiating contract terms can be intimidating, especially if you’ve never negotiated a major financial transaction before. This step typically involves haggling with prospective buyers on anything from price to timeline to potential concessions and repairs.

In addition, Connecticut is one of several states that requires home sellers to hire a real estate attorney to oversee the transaction. Your lawyer will review the contracts and other paperwork associated with the sale to ensure they meet legal requirements. Attorneys may also negotiate on your behalf and help you take care of any issues that might arise.

Required disclosures for Connecticut home sellers

Completing paperwork is a big part of real estate transactions. And Connecticut sellers must comply with the state’s disclosure requirements, whether they employ a Realtor or not. Under Connecticut law, sellers must reveal certain types of defects that could impact the home’s value.

The state’s Department of Consumer Protection requires sellers to complete its 10-page Residential Property Condition Report form. It includes a long list of questions about your home’s age and condition, including whether there are, to your knowledge, any heating, plumbing, sewage disposal or electrical problems.

Pros and cons of selling a house by owner in Connecticut

Pros

  • Saving money on commissions: FSBO sellers avoid paying a listing agent’s commission. That fee typically amounts to between 2.5 and 3 percent of the home’s sale price. In Connecticut, where the median home price was $477,400 in June, according to Redfin data, that can be a substantial $14,322 savings. (Don’t forget, though, that in Connecticut you will still have to pay legal fees even when you don’t use a Realtor.)
  • Total control: When going the FSBO route, you’re the one making all of the decisions. From deciding how much to ask for your home to scheduling showings, you have full control over your own sale.
  • Streamlined process: When the decisions are all yours there’s no need to coordinate schedules with a Realtor, or wait for them to respond to your inquiries, which can speed up the sale process.

Cons

  • Reduced profits: Selling a home on your own may mean that you don’t fetch as much for the property as you would with the help of a professional. Data from the National Association of Realtors has shown that FSBO homes typically end up selling for less than homes sold with the expertise of a Realtor.
  • Less professional guidance: Realtors have a deep knowledge of their local market and understand how to price your home effectively so that it attracts buyers and ultimately sells for the most competitive price possible. When going the FSBO route, you forgo all of this expertise.
  • More work: From writing the listing to communicating with prospective buyers and negotiating the contract, all the work falls to you in a FSBO sale. This is time consuming and complex, and a mistake can have serious consequences.

FAQs

  • Yes. Several states require home sellers to hire an attorney, and Connecticut is one of them — however, when you’re selling your home without a real estate agent, it’s smart to hire a lawyer anyway, even if your state does not require it. There’s a lot of legal paperwork involved in selling a home, and it’s important to make sure your deal is sound and your interests are protected.
  • Yes, paying taxes is part of the process when selling a home in any state, including Connecticut. Constitution State sellers must pay a transfer tax, also known as a conveyance tax, that covers the cost of transferring property ownership. Homeowners are also responsible for paying property taxes right up until the day the property changes hands, and if you make a significant amount of money on the sale, you may be responsible for federal capital gains tax as well.