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About FSBO Home Buyers Sales |
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A clear downtrend in FSBOs has been seen since that market share experienced a cyclical peak of 18% in 1997. Only 13% of sellers...
conducted transactions without the assistance of a real estate professional in 2005, and 39% of those FSBO transactions were “closely held” between parties who knew each other in advance, up from 32% in 2004. The FSBO market share was at 14% in both 2003 and 2004. NAR began tracking the FSBO market in 1981; the record was 20% in 1987.
The median home price for sellers who use an agent is 16.0% higher than a home sold directly by an owner; $230,000 vs. $198,200; there were no significant differences between the types of homes sold. “While many unrepresented sellers are motivated to save on paying a commission, we think the price difference speaks for itself,” Stevens said. “Owners without professional assistance also have problems in understanding and completing paperwork, prepping the home for sale, getting the right price and selling within the time planned.”
The 2005 National Association of Realtors® Profile of Home Buyers and Sellers can be ordered by calling 800/874-6500. The cost is $50 for NAR members and $125 for non-members. |
