In todays market lot of people thinking of selling their houses on their own to save money But here are some statics.It shows what are major differences in selling through an Realtor or FOR SALE BY OWNER(FSBO)
FSBO Methods Used to Market Home:
Yard Sign . . . 50%
Friends/neighbors . . . 29%
Newspaper ad . . . 31%
Open House . . . 25%
Listing on the Internet . . . 21%
Most Difficult Tasks for FSBO Sellers:
Getting the right price . . . 15% (This is most important part)**
Understanding paperwork . . . 18%
Preparing/fixing up home for sale . . . 15%
Attracting potential buyers . . . 9%
Having enough time to devote to all aspects of the sale . . . 7%
Source: 2007 National Association of REALTORS® Profile of Home Buyers and Sellers.
** Buyers know that seller is not paying to any realtor so they try to save that money in their pocket.And another major fact is Realtors have negotiation skills ,they are trained that way and they spend all day doing these things everyday.So who do you think can do a better job a professional(who does it on daily basis) or you who sell one house every 7-8 years.
My Observation: If you look at the pricing of a FSBO vs. an agent assisted home, the agent assisted is 7.6% higher! If a Realtor charged 2% or 3% for the listing of the home, the seller would still come out saving money by listing with the Realtor. Also, I am going to try to find some statistics online that may show us how many days on the market for FSBO's vs. selling with a Realtor? Days on the Market = more money out of the sellers' pocket because of additional mortgage principal and interest.