Using a Real Estate Agent – Do You Really Want to Sell on Your Own?

ForSale_BlueSky

Can you save money selling your home on your own as a FSBO (For Sale By Owner)? Not really. Here’s why:

FSBOs Take Longer To Sell
Typically FSBO homes take longer to sell: 88 Days on the market (vs 69 days with a real estate professional). And, 20% of FSBOs end up listing with an agent onto MLS which then converts to even more time on the market.

FSBOs Are Difficult To Sell
Per the National Association of Realtors’ statistics, 70% of FSBOs said they had significant difficulty selling their home:

  • 19% have trouble understanding and performing the legal paperwork
  • 15% made mistakes with pricing the property correctly
  • 15% had trouble focusing on what needed to be fixed up to make the home worth its true value
  • 6% had problems with helping the buyer obtain financing
  • 7% did not know how to attract potential buyers
  • 5% did not sell within a planned time frame
  • 2% did not have enough time to work on details needed such as contracts and paperwork

Home Buyer Search Habits

  • 89% of buyers use real estate agents as a source of information when in their home search? That percentage rises to 91% for first-time buyers
  • 33% of buyers found their home with a real estate agent
  • 47% of buyers found their home with the Internet (and of those buyers 90% used real estate brokers’ websites for their search)

2 thoughts on “Using a Real Estate Agent – Do You Really Want to Sell on Your Own?

  1. The buyers I work with use the client portal that I set up in our local MLS and FSBO properties are not showing up in their search at all.

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