How to sell a house by owner in Nevada
Key takeaways
- You can sell a home in Nevada without hiring a real estate agent, but be prepared — there’s a lot of work involved.
- On the plus side, you won’t have to pay a listing agent’s fee. However, you may still need to cover the buyer’s agent’s commission.
- If you don’t have an agent to represent you, it’s smart to hire a real estate attorney to review important paperwork and confirm that the deal is legally sound.
Traditionally, when you sell a home in Nevada (or any other part of the country), a percentage of your proceeds will go toward your real estate agent’s commission. Unless, of course, you take the “for sale by owner” route, often called FSBO for short.
This approach has its benefits — mostly in saving you a listing agent’s commission fee — but there are also drawbacks to consider. To help you decide if a FSBO sale is right for you, let’s look at the pros and cons of selling a house by owner in Nevada.
Selling a house without a Realtor in Nevada
When you don’t have a Realtor by your side for the home-sale process, all of their typical duties fall to you. Here’s a rundown of some important things you’re responsible for when selling without an agent in Nevada.
Choosing an asking price
As a FSBO seller, you’ll need to determine how much your house is worth — and, based on that, come up with an appropriate asking price. Redfin data shows that Nevada’s median home sale price was $461,800 in June 2024. But property values can vary quite a bit depending on where in the state you’re located: In Reno, for example, the June median was $555,000, while in Pahrump it was $350,000.
To come up with an asking price, you’ll want to review local real estate comps, or nearby properties like yours that have sold recently. Understanding how much similar homes in the area have sold for will help you figure out how to price yours. You might also look up how long these properties spend on the market to get an idea of typical deal timelines in your local Nevada housing market.
Creating a listing
House-hunters search for properties online before deciding whether to go see them in person. To capture their attention, you’ll need to create a compelling listing that makes them stop scrolling and take a closer look. Listings should include a written description of your home that covers both basic details and special features, including:
- The home’s age, square footage and lot size
- Number of bedrooms and bathrooms
- Parking and garage space
- Any recent renovations
- Information about the neighborhood and local school district
- If the home has a pool, a mountain view or any other out-of-the ordinary feature, be sure to highlight it
Along with the description, it’s important to include high-quality photos that showcase the inside and outside of your home. This is a crucial step that will help bring your listing to life and stand out from the rest, so you might even consider hiring a professional to take the photos. Remember: The goal is to get buyers to stop scrolling and click on your listing — and the right images can help make that happen.
Marketing your property
Now, it’s time to get your listing seen by house shoppers — and the best way to start is by adding it to your area’s multiple listing service (MLS). Ordinarily, an agent would do this, as only pros have access to the MLS. But owner-sellers can can enlist a service to do it on their behalf. These online companies charge a flat fee to list your home, typically with several price points that offer more services the higher they go. There are plenty such companies operating in the Silver State, including Congress Realty and Vegas Flat Fee.
You can also spread the word by printing flyers, putting a sign in your front yard and promoting your listing on Craigslist, Nextdoor or local social media groups. (However, be careful about how much information you post online to avoid scammers or safety issues.)
Marketing also includes showing your home in person. For this you’ll want to keep the home clean and tidy and possibly remove or lock away any valuables. You can schedule private viewings or hold open houses (or both), but again, use caution when allowing strangers into your home.
Closing the deal
In an ideal world, all of this effort will help bring in an offer (or several!). At this point, you may have to haggle with buyers over price, seller concessions or other contract terms, so consider how comfortable you are doing so. You’ll also need to draw up a legally sound contract that outlines all the details of the transaction. For this reason, it’s smart for FSBO sellers to consider hiring a real estate attorney. Legal fees will set you back a little more, but a lawyer can create the contract, review other important paperwork and make sure your interests are properly protected in the transaction — both financially and legally.
Required disclosures for Nevada home sellers
When you sell a home in Nevada, you must complete the state’s “seller’s real property disclosure form” for the buyer. In this five-page document, you’ll provide detailed information about known problems or defects with the home, including with its appliances and systems, structure, land and roof.
If your home is part of a homeowners association, you’ll also need to disclose documentation about its bylaws, fees and financials. And for properties built before 1978, federal law requires home sellers to fill out a lead-based paint disclosure form.
Pros and cons of selling a house by owner in Nevada
FSBO sales have their benefits, but there are drawbacks to consider, too. Here are some of the primary pros and cons of selling a house without a Realtor in Nevada.
Pros
- You hold the power: In a FSBO sale, you’ve got complete control over your selling strategy. You don’t have to consider an agent’s perspective on pricing, negotiating or anything else in the process.
- You save on commission: If you don’t hire a listing agent, you don’t pay a listing agent’s commission fee. This typically comes to 2.5 or 3 percent of the home’s sale price. On a median-priced $461,800 Nevada home, that saves you up to $13,854. Keep in mind, though, that you may still have to pay your buyer’s agent’s fee — that will depend on the details of your specific deal.
- You can move quickly: Realtors often have several clients at any given time, so you may face delays or scheduling conflicts when working with one. As a FSBO seller, however, you set your own timeline.
Cons
- You have to put in a lot of effort: It takes a lot of work to sell a house. And when you sell without an agent’s help, you’re in charge of it all — including researching the market, setting a price, promoting your listing, negotiating with buyers and more.
- You could leave money on the table: Realtors are licensed professionals who use their experience and industry knowledge to get their clients the best deals possible. Without this expertise, you might not bring in as high a price as you could have.
- You might attract fewer buyers: Agents are also marketing pros who have the tools and know-how to promote your listing to a large pool of buyers. Without one, you won’t have access to their network — and your listing likely won’t be seen by as many house-hunters.
FAQs
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No, the state of Nevada does not require you to hire an attorney to sell your house. However, FSBO sellers can really benefit from legal guidance — particularly when it comes to looking over contracts and other paperwork. Plus, with so much money on the line in a real estate transaction, working with a lawyer can offer security and peace of mind.
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Yes. Home sellers are typically responsible for property taxes (and HOA fees, if applicable), right up until the closing date. As a home seller in Nevada, you’ll also need to pay the state’s transfer tax, or negotiate to split it with the buyer. Also, if your home’s value has risen significantly since you bought it and you’re making a large profit, you might owe federal capital gains taxes on your earnings.
