The vanishing FSBO

By
Real Estate Agent with RE/MAX By The Bay

Yes, it's true, the FSBO (For Sale By Owner) famed in song and story is now one of a vanishing species on the American landscape. Well, have you seen many FSBO signs lately?

According to the NAR 2010 Profile of Home Buyers and Sellers, FSBO sales declined to less than 1 in 10 transactions in 2010 (around 9% of all sales), down from 1 in 7 in 2004.

AND in almost 50% of the successful transactions the seller knew the buyer beforehand; sort of one of those "If you ever want to sell this house I'll buy it" sort of sales.

In the difficult markets of the past few years we've been called on more and more to assist sellers in getting the job done.

Most important reason for selling FSBO

Resort areas, rural areas, and central cities tended to have the highest percentage of FSBO sales with suburban FSBO sales being only 6% of the market.

FSBO sellers tended to be younger and have lower median incomes than sellers than hired an agent to get the job done.

A high share of FSBO sellers are single males so single female Realtors can now have another place to meet guys, just go up and knock on a FSBO door and see who shows up. ;)

most difficult task for fsbo sellers

I've been wondering a lot lately why I'm not seeing as many FSBO signs around as I remember in days past. Now that I've read the latest survey of home buyers and sellers I know the answer; they're a vanishing breed.

Posted by

Jim Lee , REALTOR®, Certified Residential Specialist (CRS)

http://JimLee.com  RE/MAX By The Bay

150 Mirona Road, Portsmouth, NH 03801 Phone: (603) 431-1111 x3801

Visit New Hampshire Maine Real Estate.com to search homes, get Seacoast area information, and find out how great living on the New Hampshire and southern Maine Seacoast really is.

 

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Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale - San Jose Probate Agent

Jim, I have not seen many FSBO signs lately. I never really paid much attention to them.

Jan 15, 2011 12:56 AM #1
Rainmaker
701,556
Cindy Edwards
RE/MAX Checkmate - Johnson City, TN
CRS, GRI, PMN - Northeast Tennessee - 423-677-6677

Hi Jim,

Well, that is good news for us.  Unless of course you are a huge FSBO Realtor and that's how you get your business.  For me, I like the good old fashion, work by referral.  Cindy

Jan 15, 2011 08:03 AM #2
Rainmaker
476,919
Cindy Westfall
Premiere Property Group,LLC Portland Metro & Suburbs Oregon - Tualatin, OR
ABR,GRI Your Tualatin & Portland Metro Real Estate

Hi Jim, Interesting statistics, but makes sense. I still see them around, but not as many as a few years ago.

Jan 15, 2011 11:17 AM #3
Rainmaker
548,042
Gretchen & Mel Ahrens
ColumbiaGorgeFSBO.com - Hood River, OR

In our area, we have seen quite a few FSBO's.  Last summer I received a phone call from a local broker asking me why I thought there were so many FSBO's - he thought there was more than in prior years.  Of course, we specialize in providing marketing services to FSBO sellers since ee thought there was a market niche not being addressed. 

Mel

Jan 16, 2011 05:07 PM #4
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Jim Lee

Portsmouth NH Realtor, Portsmouth, NH
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