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For Sale By Owner Statistics

By Karl Hess

Real Estate Agent with Keller Williams Shore Properties 1005238

December 28, 2010 01:56 AM

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!

Bottom line: Hire a REALTOR and save yourself time and money, not to mention reducing the stress that comes from selling a home!

If you're interested in buying, selling or investing in Real Estate in Ocean County or anywhere along The Jersey Shore, click on TheJerseyShoreHomeFinder.com and get free access to thousands of home listings.

If you'd like to keep up with the very latest real estate market conditions in your neighborhood or anywhere in Ocean County and on The Jersey Shore, click HomeValuesinOceanCountynj.

Looking for something do this weekend in Ocean County or just want to keep up with current events? The Jersey Shore News will keep you informed with local community information and happenings.

Ocean County, NJ and Jersey Shore Homes and Real Estate - Get free access to all listings with photos in Ocean County including waterfront, beachfront and water-view homes on The Jersey Shore.

Karl Hess, Your Real Estate Agent on The Jersey Shore

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Kate Reilly Lund

RE/MAX Diamond, Realtors - Edison, NJ

Karl: Your blog and your websites are among the best around. Congratulations. PS Please take an interest in the listing at 33 Maple St. in Beachwood. MLS # 21043545. Perhaps you have a buyer for that home.

http://www.zingding.com/listing/wizard/preview/427892269

Your posting was very professional. Thanks for sharing.

Dec 28, 2010 02:49 AM

Karl Hess

Keller Williams Shore Properties - Barnegat, NJ

on The Jersey Shore

Thanks Kate...I'll keep your listing in Beachwood in mind.

Dec 28, 2010 04:55 AM

Michael Delaware

North Sky Realty LLC - Battle Creek, MI

REALTOR®, CRS, GRI

Kari, I too saw this information from NAR. Another interesting tid bit that I am not sure that anyone had clued into yet, but I would say that better than 50% of the homes in foreclosure right now in my area were bought FSBO. They thought they were saving money by not using a Realtor, and ended up paying too much for a home or chose a bad loan program because they had no one with knowledge to guide them to other options.

Dec 28, 2010 05:31 AM

Anonymous

john gallagher

Karl

The price discrepancy avg. sale is probably due to the fact most fsbo sellers are lesser

expensive properties. Realtors of course sell the million dollar and up homes as these are

typically not for sale by owners. Hence the avg. Realtor sale is higher. There are more and

more website now like ours, http://www.FreeHomeListingOnLine.com which gives the home buyer many more choices.

Also, the mls cannot track for sale by owners and appraisers have no way of using fsbo's as comps they tell me.

Also, commissions are tumbling with sites like ziprealty.com giving back to the buyer a big chunk of the real estate commission

Dec 28, 2010 08:24 AM

For Sale By Owner Statistics

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