No existing law requires investors to use a broker to buy or sell stock, unless you're selling restricted stock. With that being said, there are two ways for you to sell stock without the help of a broker. You may use the company's stock transfer agent, which would require you to mail in your stock certificates, or you may sell your stocks online.

Transfer Agent

Contact your stock company direct. A representative in the investor relations department should be able to tell you who the stock transfer agent is for the company. A stock transfer agent is responsible for tracking ownership and other stock trading concerns. Armed with this information, contact the stock transfer agent for instructions on selling your stock. Once you've reached an agreed upon transfer price, mail your stock certificates to the stock transfer agent.

Brokerage Account

One of the easiest ways to sell your stock without using a broker is to open an online brokerage account. On average, it'll cost anywhere from $500 to $1,000 to open an online brokerage account. Go with an online discount brokerage, such as etrade.com or tdameritrade.com. These online brokerages offer full-service brokerage services as well. Indicate that you'll be making your own trades. This means you're not using the help of a broker to buy and sell stock. Furthermore, taking full control over selling your stock shares, allows you to bypass hefty commissions. A great deal of research is required to determine the best time to sell your stock. If you're a novice investor, consider using a full-service broker before buying and selling stocks on your own.

Dividend Reinvestment Plans

Investing in dividend reinvestment plans (DRIP) allows you to bypass brokers, and buy stock direct from the company. McDonald's is one of many companies that offers direct stock purchasing to the public. If you participate in a DRIP, your dividends will be reinvested for you. The problem with most DRIPs is that you must have at least one share of company stock before you're eligible to join a dividend reinvestment plan. DRIP plan fees may be somewhat expensive, and most DRIPs charge a fee when you elect to sell shares. Investors who participate in your DRIP are excellent candidates to buy your stock, because they already own shares.

Source:

The Investment FAQ: Trading--Buy and Sell Stock Without a Broker

Stock 1: DRP Overview

Smart Stock Market: Buying And Selling Stocks Online Without A Broker

More Information:

Smart Money: Selling Without a Broker

Direct Investing: Search Companies

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