How to sell a house by owner in Missouri

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Published on October 23, 2024 | 5 min read

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tan house with white trim and red "for sale by owner" sign out front

Key takeaways

You aren’t required to hire a real estate agent to sell a home in Missouri, or in any state. However, doing so can be beneficial.
When you sell a house by owner, you won’t pay a listing agent’s commission fee, but you’ll still have to cover closing costs and other expenses.
Without an agent’s representation, it’s a good idea to hire a real estate attorney to protect your best interests.

If you’re gearing up to sell your house in Missouri, hiring a real estate agent is probably one of the many items on your to-do list. An agent’s market knowledge and expertise can be a huge help to home sellers. However, it comes at a cost: roughly 2.5 to 3 percent of your home’s sale price, to be exact. That can put a big dent in your profits, especially for a higher-priced home.

If that commission fee is more money than you’re comfortable parting with, you might consider selling on your own, without an agent. Below, we’ll explain the pros and cons and run through how to sell a house by owner in Missouri.

Selling a house without a Realtor in Missouri

If you’re looking to cut costs by selling without an agent, be prepared for a whole lot of work. Here are some of the main responsibilities you’ll have with a “for sale by owner” (FSBO) home listing.

Choose an asking price

Price is certainly one of the most important factors buyers consider when looking for a home. According to Redfin data from September 2024, the median sale price for a home in Missouri is $265,900 — but that number can be much higher or lower depending on your exact location in the Show-Me State.

As an independent seller, it’s your job to research pricing and trends in your local market to come up with an appropriate asking price for your home. Automatic valuation tools online can help with this, but the best way is to review real estate comps (or the prices that similar homes nearby have sold for), which will give you a more accurate sense for how much your house is worth.

Create a listing

Once you’ve settled on an asking price, it’s time to start crafting a listing. It needs a captivating written description that outlines the basic details and key features of your property, including:

Year built
Square footage
Number of bedrooms and bathrooms
Additional features, like lake access or a tennis court
Information about the local school district and nearby amenities

In addition to the description, your listing should also include high-quality images that showcase your home’s interior and exterior. Online house hunters use photos and videos to help decide which properties they’re interested in, so try not to cut corners here. If your budget allows, hire a professional photographer and make sure your house looks its absolute best.

Market your property

Your next task is to get your listing seen by prospective buyers. The best way to do this? By adding it to your local multiple listing service (MLS), a database of current property listings in a particular geographical area. These listings are aggregated to house-hunting websites like Realtor.com and Zillow. Without an agent, you won’t be able to access the MLS directly (it’s only for use by real estate professionals), but it’s easy enough to find a company that will do it on your behalf for a fee. In Missouri, your options include Best Choice Flat Fee, Flat Fee Guy and MLS My Home.

It doesn’t hurt to use a few other marketing tactics as well. For example, you can share the link on social media and community websites and put up a “for sale” yard sign with your phone number.

You’ll want to set aside some time for in-person showings, too. Whether you prefer holding open houses or private viewings, make sure to tidy up, remove any valuables and print out flyers for buyers to take home. And remember to be cautious when letting strangers into your home.

Close the deal

If everything goes according to plan, ideally you’ll end up with at least one offer. This is when the negotiations begin — and without an agent, you’ll be the one doing the haggling. Keep in mind that buyers might not start at full asking price, so there may be some back and forth before you can reach an agreement on price. You might have to negotiate other details, too, like timelines and contingencies.

From there, it’s time to draft the purchase and sale agreement, a legally binding document that outlines the terms of the transaction. In Missouri, you aren’t required to hire a lawyer to sell a house — but for this part of the process, having an attorney on your side can help immensely. Real estate deals are complex, and a mistake here can have legal or financial consequences.

Required disclosures for Missouri home sellers

As is the case in most states, when you sell a home in Missouri, you’re required to disclose certain details about the property. To fulfill these requirements, you can complete this disclosure statement from Missouri Realtors and provide it to your buyer. You should also be upfront about any known risks, hazards or defects and answer truthfully if the buyer asks specific questions about the property’s condition. In addition, if the home is part of a homeowners association, you’ll need to provide documentation about the HOA’s rules and financial status.

Pros and cons of selling a house by owner in Missouri

Like anything else, FSBO sales have advantages and disadvantages. Here’s what to consider if you’re on the fence about selling without an agent:

Pros

Commission savings: When you sell independently, there’s no need to pay a listing agent’s commission, which usually totals between 2.5 and 3 percent of a home’s sale price. For a median-priced $265,900 Missouri home, 3 percent comes to nearly $8,000.
More control: Going the FSBO route means you call the shots, not someone else. From pricing to promoting to negotiating, you get to do everything exactly as you want to.
Quicker process: Not having an agent also means not having to shift your schedule around to accommodate theirs or wait around to hear back from them. You can move at your own pace.

Cons

No expert guidance: Agents are licensed professionals who know their local markets inside and out. They’re also well-versed in marketing, networking and negotiating. FSBO sellers typically don’t have the same level of experience and skills, which can make it tougher to navigate the selling process.
Reduced profit: Houses sold by owners often earn less money than properties sold by agents, according to the National Association of Realtors. Its data shows that in 2023, FSBO homes sold for nearly $100,000 less than agent-assisted listings.
Smaller buyer pool: It’s common for agents to promote their listings within their professional networks. Unless you have these types of connections, it can be hard to reach as many potential buyers as an agent could.

FAQs

No. You don’t need a lawyer to sell a house in Missouri — however, there are many benefits to retaining one, particularly when you aren’t working with an agent. Not only can a real estate attorney draw up contracts and other important paperwork, but they can also ensure that your deal is legal and your interests are properly protected.
Yes, some. Missouri doesn’t impose a real estate transfer tax, an expense commonly incurred by sellers in many other states. However, you will still be responsible for paying any applicable property taxes right up until your closing date. In addition, if your Missouri home sale results in a sizable profit, you might need to pay the federal capital gains tax.