Fewer Sellers Choosing To Go FSBO
With the overabundance of real estate on the market in Pinellas County and elsewhere in Florida, it is amazing that some sellers still insist on being unrepresented in today's marketplace. Such sellers are, in fact, becoming more and more rare and put themselves at a competitive disadvantage as compared to sellers who choose to list with a real estate agent.
According to the National Association of Realtors (NAR), the number of for-sale-by-owner (FSBO) transactions dropped to 12 percent of total sales during 2006, down 6 percentage points from 1997.
NAR spokesman Walter Molony said property owners believe agents are far better equipped at marketing properties, thus achieving faster sales and obtaining higher prices in today's slow real estate markets. Molony added that the median price for agent-sold properties was about 16 percent higher than FSBO sales last year. Molony said that unrepresented sellers often lack the time and experience needed to complete such vital tasks as arranging property showings, coordinating required paperwork and identifying and following-up with qualified buyers.
The NAR 2006 Profile of Home Buyers And Sellers indicates that 5 percent of sales from mid-2005 to mid-2006 involved unrepresented sellers who turned to an agent, but only 1 percent of sales involved cases where sellers abandoned their agents and sold on their own.
For more information on buying and selling real estate in Pinellas County, visit my website at www.TheStPeteRealEstateSite.com.
According to the National Association of Realtors (NAR), the number of for-sale-by-owner (FSBO) transactions dropped to 12 percent of total sales during 2006, down 6 percentage points from 1997.
NAR spokesman Walter Molony said property owners believe agents are far better equipped at marketing properties, thus achieving faster sales and obtaining higher prices in today's slow real estate markets. Molony added that the median price for agent-sold properties was about 16 percent higher than FSBO sales last year. Molony said that unrepresented sellers often lack the time and experience needed to complete such vital tasks as arranging property showings, coordinating required paperwork and identifying and following-up with qualified buyers.
The NAR 2006 Profile of Home Buyers And Sellers indicates that 5 percent of sales from mid-2005 to mid-2006 involved unrepresented sellers who turned to an agent, but only 1 percent of sales involved cases where sellers abandoned their agents and sold on their own.
For more information on buying and selling real estate in Pinellas County, visit my website at www.TheStPeteRealEstateSite.com.
-30-
posted by Terry Ward at 11:26 AM
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