How to Sell a House By Owner in Rhode Island

Published on November 30th, 2024
14 min read

Richard Haddad Executive Editor
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Richard Haddad Executive Editor

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Richard Haddad is the executive editor of HomeLight.com. He works with an experienced content team that oversees the company’s blog featuring in-depth articles about the home buying and selling process, homeownership news, home care and design tips, and related real estate trends. Previously, he served as an editor and content producer for World Company, Gannett, and Western News & Info, where he also served as news director and director of internet operations.

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In today’s challenging housing market, New England home sellers are looking for ways to make every proceed penny count. You may even be researching how to sell a house by owner in Rhode Island.

Taking a “for sale by owner” (FSBO) strategy might seem like a good way to save on real estate agent commissions, but is it the best option for your situation? Many sellers find the process — from pricing to paperwork — overwhelming. For these and other reasons, FSBO sales hit a historical low in 2024, with only 6% of sellers taking the DIY route.

However, for some, the task is part of an exciting adventure. In this guide, we will break down how to sell a house by owner in Rhode Island, the challenges you might face, and alternatives that could maximize your sale.

Editor’s note: No matter how you choose to sell your home, if you’d like to consult with a top agent first, HomeLight can connect you to highly-rated professionals in your Rhode Island market. Transaction data shows that the top 5% of agents sell homes for 10% or more than average agents.

Why sell a house by owner in Rhode Island?

For some homeowners in Rhode Island, selling FSBO offers the appeal of savings and control. By bypassing a Realtor, you might reduce the fees involved in selling a home, but it’s important to understand how recent changes in the real estate industry could impact those savings.

Pros of selling a house by owner

You could save up to 3% on listing agent fees.
You can take full control of the sale process.
You can communicate directly with buyers, avoiding delays.

Cons of selling a house by owner

FSBO homes typically sell for less money. (More on this below.)
If you don’t have a buyer lined up, FSBO sales may take longer.
Managing negotiations, showings, and legal paperwork is time-consuming and complex.
Without experienced support, you might accept a poor deal.
Accurately pricing your home is challenging and risky if set poorly.
Marketing your property requires significant time and financial investment.
You may face safety risks when showing your home to unvetted buyers.
Legal liabilities can arise if you fail to comply with Rhode Island’s seller disclosure laws.

Consider the proceeds tradeoff

Selling FSBO can be rewarding for some, but it comes with significant hurdles that often outweigh the potential savings.

For example, while FSBO sellers might initially save on agent fees, research shows they often leave significant money on the table. According to the National Association of Realtors (NAR), FSBO homes sold for a median of $380,000 last year compared to the median selling price of all homes, which was $435,000. That’s a potential loss of $55,000 in proceeds in an effort to save about $11,4000 (3%) in commissions.

How to sell a house by owner in Rhode Island

Selling a home by owner in Rhode Island requires you to handle every aspect of the process, from pricing and marketing to legal paperwork. You’ll need to comply with Rhode Island’s real estate laws, such as preparing the necessary seller disclosures and coordinating with title companies to transfer ownership.

In Rhode Island, sellers are required to hire an attorney to close a home sale. Even if this was optional, FSBO transactions often warrant legal guidance to minimize risks and avoid costly mistakes. Real estate attorneys in the state typically charge between $160 and $415 per hour, depending on the complexity of the transaction.

While you might assume pricing your home is the first step in the FSBO process, it’s better to wait until the property is fully prepared. Repairs, upgrades, and cleaning efforts can significantly impact the accuracy of your pricing and the overall success of your sale.

1. Prepare your Rhode Island house for sale

To make your home stand out, you’ll want to prepare it so buyers can see its best features. Start with obvious repairs and then address cosmetic issues, such as chipped paint, scuffed floors, or broken fixtures. Even seemingly minor fixes, like new light switches and drawer knobs, can boost the home’s appeal.

Declutter and depersonalize: Clear out any unnecessary items and personal belongings to help buyers see themselves living in the home.
Deep clean: To make the house shine, give it a thorough cleaning. Focus on high-traffic areas, kitchens, and bathrooms. Consider hiring a professional cleaning service.
Make needed repairs: Fix leaky faucets, broken window screens, door handles and hinges, and replace or repair broken kitchen appliances.
Increase curb appeal: When a buyer walks up to (and into) a home, their first impression really counts. Spruce up your yard, plant flowers, and give the walls a fresh coat of paint. Consider also painting or replacing the front door to create a more welcoming entry.

»Learn more: How to Prepare Your Home for Sale and Attract Buyers

2. Set a competitive list price

Pricing your home correctly is one of the most crucial steps to attracting buyers. Too high, and your property may sit on the market for months. Too low, and you risk leaving money on the table.

To set a competitive list price in Rhode Island, consider the following:

Research nearby home sales: Look at recent closed sales of similar houses in your area (called comps), noting their price, condition, and property features.
Look at local market conditions: Check whether homes are selling fast or sitting on the market. This will tell you whether prices are going up, remaining stable, or dropping in your housing market.
Request a value estimate: Use an online tool like HomeLight’s Home Value Estimator to get a ballpark idea of what your home might be worth. This free estimator compares local sales data and transaction records of similar homes to give you a preliminary estimate.

Pay for a pre-listing appraisal: While this is an optional step, a professional appraisal can give you a much more accurate listing price range. This service usually costs around $300-$450.

»Learn more: Price My Home Right: Should I List My House High or Low?

The most common seller mistake: In a survey of more than 1,000 top real estate agents across the country, nearly 30% said the most common mistake sellers make is overpricing the house. You can check the prices of recently sold homes in your Rhode Island market using a variety of free online tools.

3. Get professional photographs

High-quality photos are essential for showcasing your home online, where most buyers will first encounter your listing. Compelling, professional photos become your first-look curb appeal, making your listing stand out among the competition.

Hire a professional photographer: There is no substitute for professional real estate photos. Find a photographer who understands lighting, angles, and techniques that make your entire property look its best. In Rhode Island, the cost of professional real estate photos typically ranges from $250 to $500, depending on the package and services offered. Ask about virtual tours, drone footage, and slideshows.
Stage your home for photos: Even minimal staging can make a huge difference in attracting buyers. Eliminate clutter, open window blinds, and arrange your furniture to highlight each space. HomeLight survey data reveals that a staged home can sell for up to 13% more.
Focus on curb appeal photos: Include exterior shots that highlight your home’s best features, from the front yard and entryway to the primary bedroom and back patio.

»Learn more: How to Take Real Estate Photos and Sell Faster for More Money

4. Create a compelling, detailed listing

Your property description should go beyond the basics to capture buyers’ attention. Highlight standout features like new appliances, recent renovations, or desirable amenities such as a large yard or nearby schools.

Focus on the best features: Highlight details like updated kitchens, spacious layouts, or outdoor spaces. Rhode Island homebuyers appreciate features such as energy efficiency, fireplaces, or access to local amenities.
Use descriptive language: Avoid generic phrases that bore home shoppers. Instead, paint a picture with specific details like “bright, sun-filled living room” or “calm, tree-lined street.”
Include essential info: Specify the year the home was built, the number of bedrooms and bathrooms, the square footage, and any recent upgrades or renovations.

»Learn more: 7 Steps to Writing Creative Real Estate Listing Descriptions

5. List your FSBO property on the MLS

The multiple listing service (MLS) is an industry tool for getting your home in front of potential buyers. While only licensed real estate agents can post listings directly to the MLS, FSBO sellers in Rhode Island can access it by working with a flat-fee MLS service.

Find a flat-fee MLS provider: Many services in Rhode Island charge a one-time fee, typically between $300 for a basic listing and up to several thousand dollars if you want to purchase extra services. These companies also place your home listing on high-traffic real estate sites like Zillow and Realtor.com.
Understand the package you’re buying: Review what’s included in the service you select. Some flat-fee providers offer additional options, like unlimited listing updates, open house announcements, or even agent support with negotiations for an added cost.
Provide accurate details: Ensure that all the information about your home is correct and matches the local MLS requirements. Double-check key details like the selling price, total square footage, and amenities to avoid any issues.

»Learn more: What Is A Flat Fee MLS Listing Service and Will it Hurt My Home Sale?

Some examples of established FSBO platforms include:

6. Market your FSBO property

To attract buyers, you’ll need to actively market your home. In addition to the MLS, consider these strategies:

Post on social media: Share your listing on platforms like Facebook, Instagram, and local community groups.
Create a virtual tour: Many buyers want to explore homes online before scheduling a showing.
Put up signage: A well-placed “For Sale” sign with your contact information can catch local buyers.
Use flyers or postcards: Distribute these in your neighborhood or local businesses.

»Learn more: How to Market Your House for Sale

Skipping the MLS? If you choose not to use a flat-fee MLS service, you can create a free listing on Zillow that can include a video and unlimited photos. This no-cost option comes with some little-known search issues, but it will get your listing on Zillow.com and the Zillow-owned Trulia.com. See our post: How Do I List My Home on Zillow When Selling FSBO?

7. Schedule and manage property showings

Once buyers express interest, you’ll need to schedule showings and prepare your home for each visit. Keep your home clean, decluttered, and free of personal items like family photos to help buyers envision themselves living there.

Use online scheduling tools: Handy tools like Calendly and Microsoft Bookings can help you coordinate showing appointments, select time slots, and avoid double bookings.
Prepare for each showing: Before home shoppers arrive, clean things up, open window blinds to let in natural light, and take steps so the space feels welcoming and clutter-free. Make sure the house smells fresh and welcoming.
Prioritize your safety: Have a sign-in sheet for buyers and verify identification. Try to schedule showings when someone else can be present with you in the house.

»Learn more: How Many Showings Does It Take to Sell a House on Average?

8. Evaluate offers, negotiate, and make disclosures

When offers start coming in, review them carefully. Look beyond the purchase price to consider contingencies, inspection or appraisal requirements, closing timelines, and financing terms.

Contingencies: These can include inspections, appraisals, or the buyer’s ability to secure financing or sell their own home.
Closing costs: Buyers may request seller concessions to help with these expenses.
Net proceeds: Use an online calculator or consult a professional advisor to understand how much you’ll take home after the sale.
Respond promptly: If an offer looks promising, respond right away to show the buyer or their agent that you’re serious about the sale This can keep negotiations moving along at a favorable pace.
Prepare for back-and-forth negotiations: Buyers often come back with counteroffers. Decide your bottom line price ahead of time and be ready to negotiate on everything from closing costs and inspection repairs to timing.

As a seller, you’re legally required to provide full disclosures about the property’s condition, including any known defects. The Rhode Island Real Estate Sales Disclosure Form will ask about a wide range of property issues.

Water or flood damage: Past or present leaks or flooding can damage the home’s structure, cause dangerous mold growth, and undermine personal items.
Structural issues: Cracks in the home’s foundation, termite damage, fault lines, or any previous structural repairs.
Hazardous health conditions: Asbestos, radon, or lead paint.
Infestations: Current or recent pest infestations, such as mice or rats.
Home systems: Damaged or malfunctioning plumbing or electrical systems.
Air conditioning or heating: The type of HVAC system, such as central electric or central gas, and which rooms have no air conditioning or heating.
Home appliances: Whether the seller is including major appliances like the refrigerator, stove, washer, dryer, dishwasher, microwave, hot tub, or backyard barbeque.

When should disclosures be provided? Some Rhode Island FSBO sellers choose to provide the completed disclosure form before an offer has been presented so the prospective buyer is more informed and less likely to withdraw from a sale later in the process.

»Learn more: How To Negotiate When Selling a House

9. Close the sale of your Rhode Island home

The final step in your FSBO journey is closing, which involves completing the legal and financial paperwork to transfer ownership. In Rhode Island, a real estate attorney is typically needed to oversee the closing to ensure all requirements are met.

Hire a real estate attorney: Your attorney will provide peace of mind and handle vital steps like drafting the deed and managing title transfers.
Work with a title company: The title company will conduct a title search to confirm there are no liens or claims against your Rhode Island property. In most cases, your sale can’t close unless there is a clean title.
Complete final steps: You’ll sign the final purchase agreement, transfer the title, and receive the payment. The title company or your attorney will usually guide you through these final steps. This is when you will turn over the keys to the house.

»Learn more: What to Bring at Closing as a Seller

FSBO pitfalls to avoid in Rhode Island

While selling your Rhode Island home by owner can save on Realtor fees, there are common pitfalls FSBO sellers often encounter. Keep these in mind to avoid expensive mistakes:

Not using the multiple listing service (MLS)
Over- or under-pricing your property
Letting your house sit on the market too long
Not providing sufficient or consistent marketing
Becoming overly fixated on one detail of the deal
Failing to declutter, depersonalize, and deodorize the house
Overlooking safety measures for showings and tours
Not involving a qualified attorney at closing

»Learn more: Why Isn’t Your Home Selling? 12 Common Reasons to Consider

Alternatives to selling FSBO in Rhode Island

If the FSBO process feels overwhelming or you’re looking to maximize your sale proceeds, consider alternative selling options in Rhode Island

Work with a top real estate agent: Agents bring valuable local market knowledge, pricing expertise, and polished negotiation skills that can help you secure a higher sale price and more proceeds. By using HomeLight’s Agent Match platform, you can connect with top-rated Rhode Island agents in your city.
Sell for cash with HomeLight’s Simple Sale: If you need a speedy sale, HomeLight’s Simple Sale platform gives you access to the largest network of trusted cash buyers in the U.S. Enter a few details about your Rhode Island home, and you’ll receive a no-obligation all-cash offer in 24 hours. If you accept, you can close in as little as 10 days. This convenient option is ideal if you’re prioritizing speed and simplicity over maximizing your sale price.

»Learn more: Sell Your House for Cash: For Some, the Convenience Can’t Be Beat

Ready to sell your Rhode Island home?

Selling FSBO can be a rewarding challenge if you’re fully prepared for the work that is involved. If you’re looking for added support, HomeLight’s Agent Match can connect you with Rhode Island’s top-performing agents who understand your market and can help you get the most from your home sale.

Most agents are happy to provide a free consultation and may even offer you a comparative market analysis (CMA) home pricing report.

»Learn more: How Do I Get a Comparative Market Analysis and What Does a CMA Cost?

If you’re trying to buy and sell in Rhode Island at the same time, check out HomeLight’s Buy Before You Sell program. This innovative program provides a streamlined, more certain process. Watch this short video to learn more.

Header Image Source: (mandritoiu/DepositPhotos)

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At HomeLight, our vision is a world where every real estate transaction is simple, certain, and satisfying. Therefore, we promote strict editorial integrity in each of our posts.

Richard Haddad

Executive Editor

Richard Haddad is the executive editor of HomeLight.com. He works with an experienced content team that oversees the company’s blog featuring in-depth articles about the home buying and selling process, homeownership news, home care and design tips, and related real estate trends. Previously, he served as an editor and content producer for World Company, Gannett, and Western News & Info, where he also served as news director and director of internet operations.