![\"homelight](\"https:\/\/www.homelight.com\/blog\/wp-content\/themes\/ccprototypev5\/images\/logo-small-cta.png\"){kind=logo}
\n <\/div>\n \n Unsure About Selling FSBO in Minnesota?<\/h3>\n
If you don\u2019t have the time or expertise to list your home FSBO, partner with a trusted, top agent in your Minnesota market. We analyze over 27 million transactions and thousands of reviews to find you the best agent for your unique situation.<\/p>\n \n
Editor\u2019s note: No matter how you choose to sell your home, if you\u2019d like to consult with a real estate agent first, HomeLight can introduce you to top-rated professionals in your Minnesota market<\/a>. Based on sales data, the top 5% of agents sell homes for 10% or more than average agents.<\/em><\/p>\n FSBO is a method of selling your home without the involvement of a listing agent. In a Minnesota FSBO transaction, the seller assumes the responsibilities that would normally fall to their agent, such as pricing the home<\/a>, marketing<\/a> it to potential buyers, arranging showings<\/a>, and negotiating<\/a> the deal.<\/p>\n This hands-on approach is not for everyone. Among the millions of homes sold each year, only a small slice of sellers \u2014 about 6%<\/a> \u2014 choose to list \u201cFor Sale By Owner,\u201d or FSBO. Of those, 38% went with this route to sell to a relative, friend, or neighbor, according to data from the National Association of Realtors (NAR).<\/p>\n In an agent-assisted sale, the seller typically pays a commission amounting to 3%-5.8% of the sale price<\/a>, depending on who pays for the buyer\u2019s agent commission<\/a>. That amount is deducted from the seller\u2019s proceeds at closing.<\/p>\n Commission rules and regulations changed after the National Association of Realtors (NAR) announced<\/a> a landmark lawsuit settlement on March 15, 2024. These changes started in August 2024 and have \u201cdecoupled\u201d seller and buyer agent compensation. Buyers are now responsible for paying their own Realtor fees<\/a>. By selling FSBO, a seller can eliminate the cost of the listing agent commission (around 3%). However, in some markets, sellers are still offering to pay the buyer\u2019s agent commissions<\/a>.<\/p>\n Even with new commission rules in place, buyer\u2019s agents<\/a> in Minnesota will expect compensation for the work they do to bring a buyer to a sale, such as arranging showings and helping to tee up and qualify the buyer. Plus, when a seller isn\u2019t working with an agent, the buyer\u2019s agent may end up carrying more of the weight to get the deal to the finish line.<\/p>\n It should be noted that a FSBO sale does not mean that a seller won\u2019t need professional assistance. In Minnesota, sellers are not required<\/a> by law to hire a real estate attorney. However, in most scenarios, a FSBO transaction warrants legal and professional oversight to avoid opening yourself up to risks.<\/p>\nHow does selling by owner (FSBO) work in Minnesota?<\/h2>\n