Should I sell my Home by owner?

By
Real Estate Agent with RE/MAX Inland Empire 77217

In this day and age, many are looking to save money. Well, most everyone is! This is certainly understandable. Do you "save money" when you sell your  Home by owner?

Here is the latest 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. (Source National Associaction of Realtor's)

 

In 2011 there was a total of 8720 LISTINGS on the Spokane MLS. At year end 4020 of them were SOLD AND CLOSED. These are all types of listings (residential, commercial, land, ect)

This shows a 50% odds of selling for the year which is 5 times higher than the FSBO stat. fsbo

Working with a compatible Realtor to sell your home, or to buy a home will give you the best chances of a happy ending!

 

 

Posted by

BethAnn Long ~ Spokane Realtor with RE/MAX Inland Empire

509-362-4607

...there's no place like your home!

Spokane Homes for Sale

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Charles Stallions 01/14/2013 07:38 PM
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Show All Comments
Rainmaker
1,256,067
Gene Riemenschneider
Home Point Real Estate - Brentwood, CA
Turning Houses into Homes

Every study I have ever seen says that you are better off using an agent than going it alone.

February 20, 2012 06:49 PM #1
Rainer
75,720
Greg Gillespie
Crye-Leike Realtors - Tupelo, MS
CRS TN & MS - Broker

You have to commend F S B O's on wanting to give it a try.  What I do not commend them for is being stubborn and when it does not sell for months on end, and not turning it over to a professional..

February 20, 2012 06:53 PM #2
Rainmaker
517,512
Jill Sackler
Charles Rutenberg Realty Inc. "Said and Done!" - Merrick, NY
Long Island's South Shore Real Estate Agent

Of course, I agree about using a professional for the sale but, not because it costs us so much to run our business but, because we're best equipped to handle the many complicated situations that might come up in a transaction.

February 20, 2012 07:00 PM #3
Rainmaker
729,857
Winston Heverly
Winston Realty, Inc. - Atlantis, FL
GRI, ABR, SFR, CDPE, CIAS, PA

If 10% is what the market share is, perhaps right now time is better spent pursuing other avenues. The sad truth is their house is probably worth more, but with all the short sales it will never reflect it.

February 20, 2012 07:17 PM #4
Rainer
224,232
Lehel Szucs
All Seasons Real Estate, Inc. - Covina, CA
REALTOR of choice

in this market fsbo are crazy ... things are changing too fast and people need a good agent that is on top of the game and can keep up with all the changes ... hard to believe that 10% of sales in 2011 were fsbo

February 20, 2012 07:25 PM #5
Rainmaker
1,311,926
David Saks
The Real Estate Mart of Tennessee, Inc. - Memphis, TN
Memphis, Tennessee

Did NAR go door to door for their stats ?

Every FSBO I've ever spoken with saved thousands, but earned a headache.

What period of time was NAR referring to ?

Pre-housing crash days ? 

Homeowners have lost so much money in equity because of the crash that a FSBO looks pretty darned good when they consider the difference between what they've already lost in equity and what they stand to gain by not paying a commission.

It's a tougher sell for an agent than it was eight years ago.

The internet made the process snappy for the FSBO.

It's much more challenging for agents to convince sellers not to do a FSBO.

We know much more about the process because we've dedicated and committed ourselves to understanding the complexities, and we're better qualified.

The dynamics of economic science dictate something else to the FSBO.

More specifically, when battling a volatile housing climate a cost-effective plan for marketing a home is the best plan.

Negotiating an agreeable, attractive commission rate can meet the FSBO challenge.

February 20, 2012 07:51 PM #6
Rainer
386,035
Bill Reddington
Re/max Southern Realty - Destin, FL
Destin Florida Real Estate

I would bet the 2012 statistics hold true also. Keep Prospecting!

January 14, 2013 08:48 PM #7
Rainmaker
1,352,010
Charles Stallions
Charles Stallions Real Estate Services - Pensacola, FL
800-309-3414 - Pensacola, Pace or Gulf Breeze, Fl.

I am finding that the below 35 crowd is no do it yourselfers they understand the need for hiring a professional because most of them are.

January 16, 2013 02:47 PM #8
Show All Comments
Rainmaker
266,972

BethAnn Long

Realtor, CRS, e-PRO, Spokane Wa Real Estate
Click here for info on Spokane WA
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