How to Sell a House by Owner in Oklahoma: Your OK FSBO Guide

Smith says a coat of paint can go a long way. “One of the most popular colors right now is Sherwin-Williams’ Agreeable Gray. I just recently sold a house where [the owners] repainted using Agreeable Gray. We had actually been on the market for a while –– about two months –– and we had some feedback that the colors were outdated. After we painted with that new color, we immediately sold it.”

Outdoors

Data from HomeLight’s Top Agents Insight Report shows that 31% of agents agree that larger or improved outdoor spaces or garden areas are the biggest selling points of a house. Moreover, 92% of realtors recommended improving curb appeal to sellers before listing the home for sale.

Smith never underestimates the power of small exterior improvements. “Add new mulch and new flowers by the door. Get any trash out of the yard, cut back trees, and really clean it up. Those are huge.”

2. Do the homework necessary to set a competitive price

You’ve arrived at a critical moment in your FSBO process: setting a listing price. 28% of agents said the most common reason buyers walk away from the negotiating table is an overpriced property. You don’t want to leave money on the table, yet you want to encourage activity on your listing.

Before listing a home, an agent usually conducts a comparative market analysis (CMA). This is a highly detailed study of “comps” or similar homes nearby that have sold recently, are pending, on the market, or were previously listed but taken off the market. Some may have even been pulled off the market without a sale.

Boone says, “I tell for-sale-by-owners that price and condition need to match. They need to look at the data, and they need to take their opinion out of it. Stick with the facts; take the emotional side out of it. To do that, they need to know how to effectively run comps.”

Without an agent, you’ll miss out on the complexity of a full CMA and the know-how to interpret it. However, with a little time and money, you can set a competitive price yourself.

Conduct your own “CMA Lite”

It’s time to roll up your sleeves and research.

Start with an online home value estimate

As a starting point, look at several online estimators for your home’s value. HomeLight’s Home Value Estimator aggregates publicly available data such as tax records and assessments, your home’s last sale price, and recent sales records for other properties in the same neighborhood.

We also add a new layer of information to our estimates using a short questionnaire. Tell us a few details about your Oklahoma home, such as:

• How much work does it need?
• What type of home is it (single-family, condo, townhouse, or other)?
• Roughly when was your house built?
• Are you planning to sell soon?

Using these insights, we’ll provide you with a preliminary estimate of home value in under two minutes.

Whether you use Zillow, Chase, Realtor, or Redfin to get a home value estimate, think of any online home price tool as a first step (not your only source of truth) — and recognize that the data used may be limited.

Narrowly filter your search for comps

When you’re ready to find comps, you can choose from sites like Zillow, Trulia, Redfin, or Realtor.

You’ll want to filter your searches to the area very near your house (within blocks if possible) and with similar characteristics. If you’re not finding any comps, expand your search map.

You’ll also want to filter results by details like:

• Listing status (look at recently sold, pending, and active)
• Number of bedrooms
• Number of bathrooms
• Square footage
• Home type (single-family, condo, etc.)

Beyond the above criteria, the more houses you find with floor plans and an age similar to yours, the better.

Use a site like Zillow to collect your data

As an example, let’s take a look at how to filter your search for comps on Zillow.

• Navigate to Zillow.
• Type in your address. If a pop-up with your home’s specs appears, close it with the “X” on the top right (or sometimes you must click “Back to search” on the top left).
• Filter by “sold.” Yellow dots should appear on the map surrounding your house, and you will see all the recently sold homes on the right.

• Now, filter by the number of bedrooms and bathrooms and check the box “Use exact match.”

• Next, filter by home type.

• Next, select the “More” box. Here, you can specify square footage, lot size, and year built.
• While still in the “More” filter box, scroll down and select to view houses that sold in the last 30 days. If you find there are not many results in your area, try expanding to 90 days. However, the further back you go, the less relevant the comps.

• If necessary, click the plus or minus buttons to widen the search area.
• Once you’ve collected data for sold houses, revise or restart the search to view active and pending listings, as well.

Invest in an appraisal

If you want to further reduce guesswork, top agents recommend paying an appraiser to provide a professional opinion of value for your home. An appraiser will combine recent property data, research of the surrounding market, and information collected from a walkthrough of your home to determine an appraised value.

An appraisal for a single-family home will likely cost $300 to $400 — well worth it to avoid potentially over- or underpricing your house by thousands.

Boone says, “What you think your home is worth doesn’t matter. What you want for your home doesn’t matter. What matters is how the bank is going to appraise your property.”

Make sense of the research

Compare your home’s features against the nearby comps you collected. Hopefully, the houses you studied give an indication of an appropriate price range for your home. From there, you can make dollar adjustments based on characteristics that add value (patios, curb appeal, an extra bedroom) versus detracting from it (a busy street, deferred maintenance, less square footage).

Consider the differences and similarities of comps with the appraised value of your home to choose a price that will encourage activity (too high, and it may seem out of reach to many buyers) but will also maximize your profit.

3. Photograph your home

Listing photos are powerful, either pulling in buyers for showings or keeping them away.

Boone says, “You want to have as many showings as possible, and it all starts with how your home views online. The number of people who see your home online is going to directly correlate to how many people come through your front door. The more people who come through your front door gives you a higher percentage of getting offers on your home in a shorter period of time.”

To give your listing an edge, consider hiring an experienced real estate photographer. While they may charge as much as $110 to $300 per session, the value gets returned to you in both quantity and quality. It could be one of the most important things you do to sell your home.

Boone says, “Public websites allow for up to 36 photos. You need to take up every single photo possible.” He adds, “When you go to some FSBO listings, it’s obvious they’ve taken photos with their cellphone. There [are] five pictures, and they’re blurry, and you think, ‘What am I looking at?’

“If your price is right and the pictures are done right, then you’ve got a good formula to get traffic coming to your property. If one of those is off, you’re not gonna get showings.”

If you decide to go the DIY route, make sure to:

Smith adds, “You might think about also getting drone shots and making videos.” Both can go a long way as you think about presenting your property positively online. She especially recommends drone shots for rural Oklahoma properties, so that buyers get a true sense of the land for sale.

4. Create a detailed, compelling listing

Along with stellar photos, you’ll want to craft an informative and compelling listing. Leverage both the listing description (a paragraph or two highlighting key features) and the property details to show potential buyers all about your home and what makes it desirable.

Tell a story with your description

Draw in potential buyers with a powerful listing description that tells a story about your Oklahoma house, including details like:

• Your home’s most unique and desirable features, like a breakfast nook or sunroom
• Recent upgrades like a kitchen or bathroom remodel, a new roof, or an HVAC system
• High-end appliances, materials, or finishes
• Outdoor features like a pool or patio
• Neighborhood features and amenities
• Nearby parks, walking trails, restaurants, and attractions

Don’t skimp on the property details

Aside from writing the description, you may be prompted to enter information like:

• Age of the home
• Square footage
• Architectural style (i.e. split-level, rancher, craftsman)
• Appliances included
• Exterior building materials
• Flooring types
• Homeowners association (HOA) fees
• School zone information
• Lot size

Many real estate agents and potential buyers read the“fine print” on your listing, so include accurate details.

5. List your home online

It’s finally time to post your Oklahoma home online. While you can create FSBO listings for free on popular search sites, you’d have to painstakingly post site by site, and your listing wouldn’t reach the majority of buyers and agents.

To give your home the most exposure, pay to have it listed on your local multiple listing service (MLS), a platform agents use to share properties with one another and major real estate sites. Posting there will feed your listing to buyers’ agent databases and to common sites buyers use.

Only licensed real estate agents and brokers who are MLS members can post to the MLS. However, you have two options to gain access: paying an agent to post for you or using a FSBO platform online.

Pay an agent to list your home on the MLS

A local agent may be willing to list your house on the MLS for a flat fee, without any other involvement in your real estate transaction. If you decide to go this route, make sure you ask whether the fee includes updating your listing if necessary.

Use a FSBO platform with an MLS option

There are a variety of paid websites that you can use to list your Oklahoma house online as “for sale by owner.” These sites offer packages ranging from about $100 to $400 for just a listing, or a larger flat fee of $3,000 to $5,000 that includes any number of additional professional marketing services.

Some of these companies display their rates on their websites, but others won’t quote a fee until you input your address or select an area of the country. A few examples include:

• OKbyowner.com
• ISoldMyHouse.com
• FSBO.com
• Houwzer
• Homie Real Estate
• Assist-2-Sell
• Help-U-Sell

It’s important to note that most of these companies serve FSBO sellers nationwide, which can cause challenges if the assisting representatives don’t understand the local market trends in your Oklahoma neighborhood.

Whatever you choose, read the fine print carefully: some sites may have hidden fees or even take a percentage off your sale — a detour you’d rather avoid on the FSBO route.

Not willing to pay for the MLS?

If you’re determined to save money by foregoing the MLS, creating a free FSBO listing on Zillow might be your top option. You can post videos and unlimited photos, and get fairly wide exposure via Zillow and the Zillow-owned Trulia.

6. Market your home

Now it’s time to spread the word about your Oklahoma home.

Experienced agents like Boone and Smith know that posting a home on the MLS is just the beginning of the marketing phase. A successful home sale requires a deliberate and targeted marketing plan to reach the right buyers and attract the best offers.

Here are some of the steps you can take to market your home:

Place a nice FSBO sign by the road

Consider getting a custom yard sign rather than purchasing a generic one you write on with Sharpie. You can order a custom sign on a site like Vistaprint with your contact information, plus a stand, for as little as $25 plus shipping. Note that some MLS providers may have rules about whether you can post a FSBO yard sign while your home is on the MLS.

Share on social media

Share your home across social media. Ask your friends to share, too.

Smith says, “We’re in a market of social media, and everybody posts online. That’s how our buyers see what’s available. We don’t use magazines or door-to-door mailers very often. So get out there on all the websites –– as many as possible –– and run some social media ads.”

Hold an open house

Find more expert tips for how to hold an open house.

7. Manage showings

If your marketing is successful, your next step will be to show the home to prospective buyers. Welcome to the busiest phase of the home sale process. According to Smith, a major reason some FSBO sellers switch to an agent is that they underestimated the time, energy, and expertise needed to manage this crucial step.

Should you be present for showings?

If you’d rather not be present for every showing, consider using a lockbox with a code to let buyers’ agents enter the house. This is standard industry practice among agents. To ensure you’re working with someone legitimate, use Oklahoma’s real estate licensee public registry or sites like arello.com to check their real estate license number.

With unrepresented buyers, plan to be on the property for the showing. During a showing, we recommend you:

• Point out a few highlights of the house.
• Let buyers look without hovering.
• Be prepared to answer questions.
• Avoid the temptation to tell all — let the house and listing do the talking.
• Refrain from showing the home alone, for safety reasons.

Smith says, “It’s not wise to let just anybody in your house alone, especially people who you don’t know and who have not been through any kind of preapproval process.”

8. Evaluate offers and negotiate a deal

You’ve got your first offer — congratulations! Before signing anything, Smith says it’s important to have a firm idea of what you want out of the deal.

“During negotiations, [FSBO sellers] can feel pressure from the buyer to pay some of their closing costs or give in to buyer incentives, and just like that, they end up with less in their pocket. So I would say, stay strong and know what you want.”

Here are key considerations when considering an offer on your Oklahoma home:

• Vet potential buyers by requiring a mortgage pre-approval letter or proof of funds.
• Require everything in writing.
• Consider what contingencies you’ll accept.
• Counter-offer and negotiate.
• Look for a good real estate attorney. (See the next step!)

9. Close the sale — with professional help

Time to button up that deal.

Smith recommends that every FSBO seller in Oklahoma hire an attorney to minimize risk and settle the legal documents. In fact, a real estate attorney is required by law at a minimum during the title examination phase.

“I would definitely suggest getting legal advice on everything that you’re doing, because when you sell, it’s a legally binding contract, and there’s so much that goes into it,” she says.

Real estate attorney fees can vary depending on location and how much help you want or need. In Oklahoma, real estate attorneys charge $257 per hour on average, well worth it for professional guidance in closing one of life’s largest legal transactions.

I tell for-sale-by-owners, if you have a buyer come to your house, and they don’t have a Realtor®, that’s a big red flag. It doesn’t cost anything for a buyer to have representation. If they’re not using a Realtor®, that’s a very experienced buyer who’s going to come kicking in the kneecaps with a low price offer. — Brett Boone

FSBO mistakes to avoid in Oklahoma

On your FSBO journey, watch out for these major pitfalls:

• Missing out on the MLS
• Over- or under-pricing.
• Letting your house sit on the market too long
• Not being open to the idea of paying the buyer’s agent commission
• Not vetting buyers properly before showings

Boone notes the importance of vetting buyers, saying that “tire-kickers” and low-ballers can be a huge waste of time and momentum in the selling process. “I tell for-sale-by-owners, if you have a buyer come to your house, and they don’t have a Realtor®, that’s a big red flag. It doesn’t cost anything for a buyer to have representation. If they’re not using a Realtor®, that’s a very experienced buyer who’s going to come kicking in the kneecaps with a low price offer.”

Alternatives to selling by owner in Oklahoma

If you decide you don’t want the hassle or pressure of FSBO, you’ve got other solid options.

Enlist the help of a top-rated real estate agent

Ultimately, the services and price gains you can get with an experienced real estate agent may put more money in your pocket than FSBO. A proven agent is also better equipped to help you achieve your selling and moving timelines.

Boone shares the story of one client in Oklahoma City who began their selling process as a FSBO. “They were getting people wanting to owner-finance, people wanting to rent their home, but they didn’t have any real offers on the property.”

He came in and gave them a full market analysis of their home, offered them tips on how they could improve the showing of their home, introduced professional photography, and upped their marketing strategy. In no time, they had an offer for $10,000 over asking, and Boone was able to coordinate closing on their new home on the same day.

Smith shares a similar experience in Tulsa. “I had a FSBO where I walked alongside them for a little while, and they did not have any success. They just didn’t have the resources to be able to pull in the local market and really feel confident that they could get a certain price.

“Also they seemed a little bit in the dark with regards to pricing. Long story short, we listed the property and [I brought in] marketing skills so that we could get it done. We sold in two days and made them more money after they paid the commission. So they were really excited.”

Interested in such expertise? HomeLight’s Agent Match platform can connect you to top-performing agents in your Oklahoma market. Our free tool analyzes over 27 million transactions and thousands of reviews to determine which agent is best for you based on your needs. It takes only two minutes to receive your matches.

Request a cash offer to buy your Oklahoma home

If you’d like to skip the sale prep altogether — plus avoid paying agent commissions — you can opt to sell your home “as-is” to an all-cash buyer instead.

For a low-stress experience, consider requesting a cash offer from HomeLight’s Simple Sale platform. Tell us a few details about your home, and in as few as 24 hours, we’ll send a no-obligation all-cash offer your way. If you decide to accept the offer, Simple Sale sellers have the ability to close in as little as 10 days.

Without leaving the Simple Sale platform, you’ll also be able to compare your cash offer to an estimation of what your home would sell for on the open market so you can make an informed decision.

Ready to sell your Oklahoma home?

Unless you already have a buyer lined up, selling a house by owner in Oklahoma requires a significant investment of time and effort. You’ll need to pull your own comps, capture excellent pictures, create a listing, market the house online, field inquiries, host showings, negotiate, and close the deal. And that’s after preparing the house itself.

You also have to consider that FSBO listings tend to sell for less than agent-assisted sales. An experienced agent who knows the area can make recommendations for targeted upgrades to help you maximize your sale price and get a premium offer. This can help offset or, in some cases, more than make up for the cost of commission — while saving you time and headaches.

If you choose to go FSBO, you should have a good idea now of what to expect from the process. Otherwise, partner with a competent agent. Our internal transaction data at HomeLight shows that the top 5% of real estate agents sell homes for as much as 10% more than average. Connect with some of the best agents in Oklahoma today.

Writers Hayley Abernathy and Madeline Sheen contributed to this story.

Header Image Source: (PantherMediaSeller / Unsplash)