FSBO SELLERS’ COSTLY MISTAKE
Half of all homeowners (48%) who decide to sell their own home without Realtor representation believe it will take a little extra work but be worth it because they’ll save money on commissions and closing fees. But research find that for-sale-by-owner (FSBO) sellers actually spend a lot more time than they imagined just to end up with a final selling price that is much lower than comparable listings sold by a Realtor, according to a survey by the National Association of REALTORS. Most (89%) homes sold this year included assistance of a real estate professional, according to the Association/s Home Buyers and Sellers Profile report. However, a small number of sellers still preferred to do the marketing alone- a record low of for-sale-by-owner transactions that dates back to 1981. “In reality, homes sold by the owner make less money, said the Association’s economist. The median selling price for all FSBO homes was $210,000 last year (2015). When the buyer knew the seller in FSBO sales, the number sinks to the a median price of $151,900. However, homes sold with the help of a Realtor had a median selling price of $249.000- nearly $40,000 more than the median price for a FSBO!