Should I sell by owner?

In this day and age, many are looking to save money. Well, most everyone is! This is certainly understandable. Do you "save money" when you sell your  Home by owner?

Here is the latest statistics:

FSBOs accounted for 10% of home sales in 2011. The typical FSBO home sold for $150,000 compared to $215,000 for agent-assisted home sales. (Source National Associaction of Realtor's)

The average person does not realize the immense commitment Realtor's have to buyer and seller.

Agents spend an average of 500$ a month (minimum) to BE A Realtor.  These expenses include

  • dues to local ,state and National associations.
  • Advertising ( agents pay most of our own advertising expenses) from signs, lockboxes, adds. lead capture programs, flyers and print, postage. INTERNET (I personally spend 350$ more per month on Internet marketing than the average agent)
  • E and O Insurance
  • Gas/ Car
  • Technology
  • Continuing Education Couses , Renewal fee's

 

In 2011 there was a total of 8720 LISTINGS on the Spokane MLS. At year end 4020 of them were SOLD AND CLOSED. These are all types of listings (residential, commercial, land, ect)

This shows a 50% odds of selling for the year which is 5 times higher than the FSBO stat. fsbo

Working with a compatible Realtor to sell your home, or to buy a home will give you the best chances of a happy ending!

If your goal in selling your home by owner is to save money, the statistics simply do not substaniate it.

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Replies to This Discussion

Permalink Reply by Anthony Carollo on February 21, 2012 at 8:49pm
Great conversation BethAnn. With the market so dramatically altered from where it was 5 years ago, and the increased tendency by parties to litigate when something goes wrong, it makes so much sense to hire a Realtor to represent you whether you are buying or selling.

Remember, even as a buyer there is real benefit to hiring your OWN agent to represent your interests, and the buyers agency fees are generally paid for by the seller.

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