For Sale By Owner (FSBO)
Doing a For Sale By Owner (also known as FSBO), without representation, is not terribly difficult if the market is moving fast and inventory is snapped up as soon as it becomes available for sale. However, for most FSBOs, finding buyers is typically a challenge.The National Association of Realtors reports that the majority of for sale by owners end up listing with a Realtor. Part of the reason is because most buyers are represented by an agent. Other reasons are because owners who sell by themselves lack the expertise to price a home to sell and fall short on marketing knowledge. Read more...
Most Important Reason for Selling Home As FSBO
- Did not want to pay commission fee: 49%
- Sold it to a relative / friend / neighbor: 26%
- Buyers contacted seller directly: 11%
- Agent was unable to sell home: 7%
- Did not want to deal with an agent: 4%
- Seller has real estate license: 3%
- Could not find agent to handle transaction: <1%
- Other: <1%
Economists' Commentary: Home Sellers Seeking Professional Representation Rising
February 12, 2009By Harika "Anna" Barlett, Senior Research Analyst
With housing inventory at its highest since the early 1980s, a greater number of home sellers understand the value of professional representation. This is understandable given that the housing market has been challenged in the past two years and inventory of homes for sale reached its highest point since the early 1980s.
The 2008 NAR Profile of Home Buyers and Sellers reveals that among recent home sellers surveyed in August 2008, the pure For-Sale-By-Owner (FSBO) sales - those cases where the seller did not know the buyer - remain historically low at 7 percent. It had been closer to 10 percent during the housing boom years. Read more...
With housing inventory at its highest since the early 1980s, a greater number of home sellers understand the value of professional representation. This is understandable given that the housing market has been challenged in the past two years and inventory of homes for sale reached its highest point since the early 1980s.
The 2008 NAR Profile of Home Buyers and Sellers reveals that among recent home sellers surveyed in August 2008, the pure For-Sale-By-Owner (FSBO) sales - those cases where the seller did not know the buyer - remain historically low at 7 percent. It had been closer to 10 percent during the housing boom years. Read more...
