For Sale By Owner (FSBO) vs. Realtor
We all know why owners try and sell their own homes; to save money. But these statistics tell a story that doesn't meet their most basic desire.
For Sale By Owner (FSBO) Statistics: FSBOs accounted for 9% of home sales in 2010. The typical FSBO home sold for $140,000 compared to $199,300 for agent-assisted home sales.
FSBO Methods Used to Market Home:
- Listing on Internet . . . 27%
- For-sale-by-owner Web site . . . 11%
- Yard sign . . . 46%
- Friends/neighbors . . . 39%
- Newspaper ad . . . 12%
- Open house . . . 14%
Most Difficult Tasks for FSBO Sellers:
- Getting the right price . . . 23%
- Preparing/fixing up home for sale: 18%
- Selling within the planned length of time: 14%
- Having enough time to devote to all aspects of the sale: 13%
- Understanding and performing paperwork: 10%
Source: 2010 National Association of REALTORS® Profile of Home Buyers and Sellers
More For Sale by Owner statistical evidence show that a REALTOR is more advantageous from the start: 80 to 90% of all FSBO's sign with an agent eventually. 50% of those FSBO's that were successful in selling their own home say they would hire an agent the next time. Studies indicate that unrepresented owners actually sell their home for less than owners with an agent. (Though that doesn't necessarily mean less money for a FSBO as that can depend on other factors).
Just to reiterate; 50% of SUCCESSFUL For Sale By Owner folks say that they would hire an agent the next time they had a home for sale. An amazing stat!
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