Some of the ways of selling stock without using brokerage firms are through a transfer agent of the company where the stock is owned, direct purchase plans and selling directly to a friend, according to Zacks. Whenever stocks are being sold directly, a signature guarantee by a bank is necessary.Continue Reading
Selling stock directly can be a good way to save money, especially for investors who do not trade frequently. However, it is slower and does not offer much control over the price of stock, states Zacks. On the other hand, with the right timing such as when the prices have gone high, issues concerning prices should not be a problem. Some of the methods of selling stock without brokers are free but others require a small fee.
When transferring stock through a transfer agent, a stock certificate must be signed and sent to the agent. When the stock is with a different institution, the agent needs to hand over the certificate to the stock owner. A number of corporations sell their shares through direct plans. The plan administrators take care of expenses and see to the reinvestment of dividends. Selling to a friend requires the signing of the stock certificate and handing it over to the buyer once the money has been received. In case the buyer wants to use a check to pay, it is important to ensure the validity of the check, explains Zacks.Learn more about Investing