More Bad News For FSBO's!
Information reported in the April, 2006 issue of Florida Realtor magazine states that unrepresented sellers, popularly known as FSBO's, are taking it on their financial chins when selling property.
The article states: "A clear downtrend in for-sale-by-owner (FSBO) homes has been seen since the market share experienced a cyclical peak of 18 percent in 1997. Only 13 percent of sellers conducted transactions without the assistance of a real estate professional in 2005, and 39 percent of those FSBO transactions were "closely held" between parties who knew each other in advance. " According to the National Association of Realtors (NAR), who began traking sales of homes by unrepresented sellers in 1981, the record for FSBO sales was 20 percent in 1987.
According to NAR data, the median home price received by sellers who use a real estate agent is now 16 percent higher than a home sold directly by the owner; $230,000 versus $198,200 with no significant differences between the type of homes sold.
"While many unrepresented sellers are motivated to save on paying a commission, we think the price difference speaks for itself," said Thomas M. Stevens, President of the National Association of Realtors.
If you would like more information on the latest trends in buying and selling real estate, you can order a copy of NAR's 2005 Profile of Home Buyers And Sellers survey by calling 800-874-6500. The cost for the survey is $50 for NAR members and $125 for non-members.
The article states: "A clear downtrend in for-sale-by-owner (FSBO) homes has been seen since the market share experienced a cyclical peak of 18 percent in 1997. Only 13 percent of sellers conducted transactions without the assistance of a real estate professional in 2005, and 39 percent of those FSBO transactions were "closely held" between parties who knew each other in advance. " According to the National Association of Realtors (NAR), who began traking sales of homes by unrepresented sellers in 1981, the record for FSBO sales was 20 percent in 1987.
According to NAR data, the median home price received by sellers who use a real estate agent is now 16 percent higher than a home sold directly by the owner; $230,000 versus $198,200 with no significant differences between the type of homes sold.
"While many unrepresented sellers are motivated to save on paying a commission, we think the price difference speaks for itself," said Thomas M. Stevens, President of the National Association of Realtors.
If you would like more information on the latest trends in buying and selling real estate, you can order a copy of NAR's 2005 Profile of Home Buyers And Sellers survey by calling 800-874-6500. The cost for the survey is $50 for NAR members and $125 for non-members.
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posted by Terry Ward at 3:01 AM
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