Why do 90% of all home sellers work with an agent?
Are FSBOs actually banishing themselves to the swamps?
Before they consider selling their home on their own, home sellers should be asking themselves why 90% of all home sellers in the U.S. work with an agent. Often times the For Sale By Owner (FSBO) gets caught up in a process that is as foolish as stepping over dollars in order to pick up dimes.
Many FSBOs start out believing that selling their home is as easy as sticking a sign in the yard and placing an ad on-line. They soon find out otherwise
The thing is, they are so focused on saving a commission that they don’t realize that they are actually losing more money than they would have paid in commission to an agent. Here are some interesting facts about FSBOs from the National Association of Realtors:
For Sale By Owner (FSBO) Statistics
FSBOs accounted for 10% of home sales in 2011. The typical FSBO home sold for $150,000 compared to $215,000 for agent-assisted home sales (that’s $65,000 less than they could have received if they had used an agent).
FSBO Methods Used to Market Home:
· Yard sign . . . . . . . . . . 44%
· Listing on Internet . . . 33%
· Friends/neighbors . . . .27%
· Open house . . . . . . . .19%
· Newspaper ad . . . . . 17%
· For-sale-by-owner Web site. .12%
Most Difficult Tasks for FSBO Sellers:
· Getting the right price . . . 12%
· Understanding and performing paperwork: 11%
· Having enough time to devote to all aspects of the sale: 6%
· Preparing/fixing up home for sale: 5%
· Selling within the planned length of time: 5%
Source: 2011 National Association of REALTORS® Profile of Home Buyers and Sellers
You see, 90% of people sell their home with an agent simply because it makes more sense, and because agents typically get more money for their clients than going at it alone. As well, 90 percent of all buyers are working with an agent for various reasons. Contact an agent today, contact my team today and we’ll be there to help you!
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