Sam Shueh, mba, cdpe, reopro, pe (   (408) 425-1601)

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Rainmaker
2,426,599
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

If an agent doesnt bring value, I see the FSBO point of view no problem

Jun 06, 2016 05:33 AM
Rainmaker
2,394,765
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

We already knew the number one reason, sometimes it is because they are under water, still.

Jun 06, 2016 10:47 AM
Rainer
65,828
Cody Carmen
Adhi Schools, LLC - Rancho Cucamonga, CA
Market Analysis--Educational Content, Adhi Schools

Some cities also have very active, efficient FSBO markets. Madison, WI comes to mind. Obviously a city the size of Madison cannot skew the data, but the ease of selling a property on your own does influence sellers a great deal. Any time an agent wasn't used someone figured out how to do it on their own. 

Real estate pros provide convenience, security, and oftentimes can secure a better price. But If 48% of FSBO don't want to pay a commission they do not see the value in these services. Something to keep in mind for self-marketing.

 

Jun 06, 2016 05:12 AM
Rainmaker
262,028
Allie Angeloni
Long Realty - Oro Valley, AZ

I agree there can be many reasons for FSBOs.  My thought is not just the fact that the seller doesn't want to pay a commission, but the fact that the seller has had a previous bad experience or two in their past.  And they are not about to let 'history repeat itself', so that is why they are a FSBO.  And if there is no 'history lesson' involved, then the seller feels 'they know it all', and 'do not see any value' to having a realtor.  I don't think it's always about the commission.  Thanks for posting the percentages Sam Shueh!  

Jun 06, 2016 09:12 AM
Rainmaker
1,207,792
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Ditto under Sandy Padula and Norm Padula, JD, GRI and Michael Setunsky 

Jun 06, 2016 09:11 AM
Rainmaker
1,281,278
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

The commission is the big reason, of course.  Most FSBOs don't understand the complexity of a transaction and that's why, after their own efforts, most end up listing with an agent.

Jun 06, 2016 08:41 AM
Rainmaker
3,173,507
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

I recently sold to the daughter of a neighbor. Her brother was a parapalegic living with his aging parents and needed help! I sold at a discount to make it work.

Jun 06, 2016 08:13 AM
Rainmaker
1,367,627
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Sam Shueh It should not be all about the fee. Representation will lead to a successful transaction process and closing.

Jun 06, 2016 07:38 AM
Rainmaker
1,000,297
Corinne Guest
Corinne Guest, REALTOR® | Barrington Realty Company - Barrington, IL
Barrington Lifestyles

I sold my house FSBO before becoming an agent. Not because of commission, but a disagreement on price. We sold higher then 2 recommended listing at. They were clueless and we had very little time to keep interviewing. We had multiple offers. I see both sides of everything. There are a couple oddities inthere. 1. Could not find an agent, yes that was me!

Jun 06, 2016 07:29 AM
Ambassador
3,919,385
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

No not surprised overall. A little, though, given the % who sold to a relative, etc. or who were contacted directly by a buyer

Jun 06, 2016 06:42 AM
Rainmaker
1,523,697
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

No surprise here, Sam, but this flies in the face of the fact that when a home is listed by an agent, the transaction goes smoother, and the home sells for a higher price. Certainly, there is value directly and indirectly with both of these arguments.

Jun 06, 2016 06:32 AM
Rainmaker
4,796,557
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

No, not surprised at all.

Jun 06, 2016 06:00 AM
Rainmaker
1,523,566
Sybil Campbell
Long and Foster REALTORS® 5234 Monticello Ave Williamsburg, Virginia - Williamsburg, VA
REALTOR® ABR, SFR, SRES Williamsburg, Virginia

Thanks Sam, unfortunately as I'm sure you know most FSBO's get less for their house than they would if they had used an agent.

Jun 06, 2016 05:54 AM
Ambassador
2,345,139
Fred Griffin presently on Leave of Absence
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Interesting.  Almost 40% were contacted directly, or sold to a relative/friend/neighbor.

Jun 06, 2016 05:08 AM
Rainmaker
1,213,009
Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I don't know if I'd consider a realtor with a license selling their own place to be a FSBO.  Technically I guess, but FSBO has always been an unlicensed person out here.  Typically realtors selling their own places actually use the MLS and their company signs.  FSBOs don't use the MLS and have generic signs or "Hope-U-Sell" signs.

Jun 07, 2016 04:02 AM
Rainmaker
4,877,883
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

trying to avoid paying a commission and/or thinking they are capable of accomplishing that task with the assistance of an attorney..... wrong!!

Jun 06, 2016 11:05 PM
Rainmaker
2,982,593
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

As many FSBO's have learned (or those with discount brokers), you get what you paid for.

Jun 06, 2016 10:53 PM
Rainmaker
731,010
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

I think many fsbos' just don't have the time to devote to everything involved in marketing and getting a contratc to settlement, especially if sellers work full time jobs. I have no problem with fsbo trying to do it themselves though. Those %s seem fairly accurate. With TRID and more restrictions on lenders and underwriters, I think more sellers will choose using an agent these days.

Jun 06, 2016 10:51 PM
Rainmaker
3,049,971
Tony and Suzanne Marriott, Associate Brokers
BVO Luxury Group @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

No surprises

Jun 06, 2016 10:48 PM
Rainmaker
823,788
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

Not surprised at all

Jun 06, 2016 10:47 PM
Rainmaker
2,945,212
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

I am not but most sellers are surprised when i tell them we can sell their home for more easily covering the fees and taking away the stress of a fsbo. 

Jun 06, 2016 10:29 PM
Rainmaker
5,272,062
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Interesting statistics.

Jun 06, 2016 09:14 PM
Ambassador
4,298,326
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Sam Shueh - no surprises there for sure.

In fact some people want to do for fun as well...

Jun 06, 2016 03:54 PM
Ambassador
4,067,090
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

I suspect that many just want a higher price than the one the agents suggest and need to let it sit on the market a while until they are ready to accept reality.

Jun 06, 2016 02:57 PM
Rainer
302,079
Melissa Jackson
Citiwide Alliance Realty - Weatherford, TX
Helping You Make The Right Move

Sellers don't want to pay the commission and feel they can do it because all the information available online.   No, I'm not surprised.

Jun 06, 2016 01:16 PM
Ambassador
3,673,547
Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

If you looked all sellers, FSBO and represented, I'm wondering what the total percentage would be.  Thank you for the stats.

Jun 06, 2016 12:33 PM
Ambassador
3,981,968
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Many don't have the equity ot pay a commission and selling expenses. I do not apologize for my fee.

Jun 06, 2016 12:12 PM
Rainmaker
3,977,733
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

No, not at all, but the smart people will know the dangers

Jun 06, 2016 11:53 AM
Rainmaker
1,675,306
Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

I agree.  Most dont want to pay the commission.

Jun 06, 2016 11:52 AM
Rainmaker
1,649,888
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker and Attorney Licensed in DC, MD, VA,

Good list of reasons 

Jun 06, 2016 11:14 AM