Selling your Mississippi house For Sale By Owner (FSBO) can save you thousands in real estate agent commissions. Not only that, 77% of FSBO homes sold in just two weeks, faster than the 43-day average in the Hospitality State.
And selling your home FSBO is now easier than ever! High-tech For Sale By Owner websites in Mississippi will help you list on MLS within 24 hours. And when you sell, you’ll pocket an average of $7,000 in additional savings on an average Mississippi home!
How to Sell a House By Owner in Mississippi in 6 Steps
Families and professionals are moving to Mississippi due to its affordable cost of living, friendly communities, and a growing job market.
Here’s how to capitalize on this demand and sell your house by owner in Mississippi in 6 simple steps:
Step 1: Price Your Home Competitively
Mississippi is currently seller’s market with 8.5% of homes sold above list price. This has resulted in more competitive offers and fewer days on the market for many homes.
In cities like Madison and Oxford, you can even price your home up to 10% more because of the high demand for housing. On the other hand, if you’re in rural regions with a low population like Crystal Springs or Clarksadale, price your home lower than the FMV to attract more offers.
Step 2: Make Your Home Market-Ready
People move to Mississippi looking for homes with great workspaces, outdoor areas, and places to unwind. You can attract these buyers if you stage your home. In fact, 58% of buyers say home staging influences their decision.
Here’s what you can do when learning how to sell your home by owner:
- Declutter and Depersonalize: Clean surfaces and remove personal items to help buyers envision themselves in the space. This makes the home feel more inviting and neutral.
- Improve Curb Appeal: Enhance curb appeal by keeping your outdoor areas well-maintained.
- Highlight Outdoor Living Spaces: Showcase features like screen patios, lanais, or pool areas to help sway buyers’ decisions.
- Opt for a Professional Home Stager: Hire professional home staging companies in Mississippi. They will help you prep your house for listing photographs and walkthroughs.
Step 3: Increase Your Property’s Visibility
A major aspect of learning how to sell a house by owner in Mississippi is figuring out how to boost your property’s visibility. Here’s what you must do:
- Hire a Pro Photographer: Homes photographed professionally sell 32% faster than the average home. Showcase features like coastal views or lush greenery to captivate buyers.
- Craft a Compelling Property Description: Use words like “waterfront retreat,” “sun-soaked,” or “seaside sanctuary” when describing your home. Also, mention details like proximity to beaches, screened pools, or the Elvis Presley Museum.
- List on For Sale By Owner Websites: FSBO sites like Zillow and Craigslist can increase your home’s exposure to more buyers than just friends and family.
- Put a “For Sale” Yard Sign: Mississippi’s year-round warm climate makes yard signs highly effective. 12% of sellers use yard signs to market their homes when selling FSBO.
- List on MLS: MLS is the most powerful tool in real estate. If you want to sell your home quickly and for top dollar, you need to list on MLS in Mississippi.
Step 4: Organize Home Showings
Schedule showings for out-of-state buyers during the weekends. This helps you make the most increased buyer activity amidst limited supply during winters so your home may have more visibility.
- Open Houses: 41% of homebuyers rely on information from open houses. Host these open houses during mid day hours (11:00am to 3:00pm).
- In-Person Showings: With tools like Houzeo Showings, buyers and buyer agents can easily select showing slots. For out-of-state buyers, use this tool to schedule virtual tours or live video showings.
Step 5: Review, Compare, and Negotiate Offers
Though you are selling a house without a Realtor, the basics of what to do when you get offers remain the same. Consider the following when evaluating offers:
- Cash Offers: Ensure you are getting a fair value for your property and not being low-balled.
- Buyer Financing: Make sure the buyer is preapproved for a mortgage and has financial backing.
- Contingencies: Look for inspection or appraisal contingencies. Mississippi homes may need special evaluations for hurricane damage or flood risks.
- Closing Costs: As a seller, you typically pay your own closing costs like escrow fees, HOA, etc. However, if you offer seller concessions, your home will appeal more to buyers.
Step 6: Finalize the Sale Seamlessly
A real estate attorney can help you draft the paperwork for selling a house without a Realtor in Mississippi to minimize legal risks. This includes title and closing documents. Typically, their fee ranges between $150 and $500 per hour.
How Much Do You Save By Selling Your Home By Owner?
The entire 3% listing agent fee! That’s how much you save when selling a house by owner in Mississippi.
To put that into perspective, let’s say, you’re selling a house priced at $260,600. Assuming you pay a 3% commission fee, you’ll have to shell out $7,818 to your listing agent. With Houzeo, you could reduce that cost significantly:
| Details | Traditional Realtor (3%) | FSBO with Houzeo |
| Home Sale Price | $260,600 | $260,600 |
| Listing Price | $7,818 | $429* |
| Savings | $0 | ($7,818 – $1,732) $6,086 |
» Read these exclusive Houzeo reviews now to learn more about how to sell a house by owner in Mississippi and make an informed decision!
Pros and Cons of Selling a House Without a Realtor
More homeowners are choosing FSBO, with 26% of Boomers, 17% of Millennials, 23% of Gen Xers, and 6% of Silent Gen going this route. However, before you jump on the bandwagon, you must consider the pros and cons of FSBO:
✅ Pros
- Cost Savings: In Mississippi, sellers typically pay 2.5% to 3% in listing fees. When you sell FSBO, you can eliminate the cost.
- Quick Sale: You can list your house yourself whenever you are ready. You need not hunt for a real estate agent to begin selling a house For Sale By Owner in Mississippi. 77% of FSBO homes sell in less than 2 weeks.
- Full Control: As an independent Mississippi home seller, you will interact with buyers directly. You will also control other aspects of selling by owner in Mississippi, such as showings, negotiations, paperwork, etc.
❌ Cons
- Limited Assistance: Handling paperwork, inspections, and negotiations on your own can be overwhelming without the right support.
- Potential Hidden Costs: Several FSBO listing services with low upfront costs may have a high hidden fee at closing. Additionally, several FSBO sites like Craigslist are infamous for attracting unqualified buyers and scammers.
What are the common FSBO Mistakes to Avoid?
❌ Don’t Skip the MLS: MLS exposure is crucial so that your house is listed on over 100+ sites. Statistically, homes listed on the MLS sell faster and for 17.5% more.
❌ Don’t Over or Underprice Your Home: Overpricing in competitive Mississippi markets like Jackson or Madison can scare off buyers, while underpricing may result in leaving money on the table.
❌ Don’t Skip Professional Photography: Professionally shot homes sell 32% faster. So, skipping professional real estate photography will lead to lesser foot traffic and slower home sales.
❌ Don’t Miscalculate Closing Costs: An error when calculating your closing costs can affect how you plan for future expenses. A shortfall could impact your ability to secure your new home.
❌ Don’t Make Paperwork Mistakes: Errors in your paperwork, like flood zone disclosures or HOA details, could delay or cancel the sale.
Should You Sell a House By Owner in Mississippi?
Yes! Selling your house by owner in Mississippi can save you thousands in commissions. While buyers might not be actively looking now, there’s a chance your property could attract snowbirds or those looking for a Mississippi way of life.
Frequently Asked Questions
How to list your home For Sale By Owner in Mississippi?
To list your home FSBO in Mississippi, opt for a Flat Fee MLS company. This increases your property's visibility on major sites like Redfin, Zillow, Trulia, etc. Check out our rankings for top Mississippi Flat Fee MLS companies.
How to sell a house in Mississippi without a Realtor for cash?
To sell your Mississippi home without a Realtor for cash, you can list it on cash marketplaces like Houzeo.com and Sundae. You could get offers from multiple cash buyers, increasing your offer value to up to 100% of the FMV. If you sell it to iBuyers you can get upto 80% of FMV.
How to sell your house by owner in Mississippi as fast as possible?
To sell your house fast by owner, you can sell it for cash to a house flipper, wholesaler or to companies that buy houses for cash in Mississippi.
Who draws up the contract in for sale by owner?
In a FSBO transaction, sellers are usually responsible for the purchase agreement often referred to as a for sale by owner contract in Mississippi. Some people also take help from a real estate attorney to draft or review the contract.
