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St. Louis Real Estate Search

 

Report Shows FSBO’s Sold For Over Fifteen Percent Less Than Agent-Assisted Home Sales

The number of homes sold “For Sale By Owner” (FSBO) dropped to a record low of just eight percent of all homes sold, according to the National Association of REALTORS (NAR) 2015 Profile of Home Buyers and Home Sellers report.  A commentary posted on the Economist’s Outlook Blog by Amanda Riggs, Research Survey Analyst for NAR. on the NAR website indicated that homeowners that sell as a FSBO often find it doesn’t turn out as they expected either in the amount of time it will take on their part nor in the price they ultimately receive.  Highlights from Rigg’s commentary include:

  • Forty-eight percent of people who sell without a real estate agent think that if they sell themselves, they’ll end up doing a little extra work in exchange for not paying a commission or closing fee. According to the research, however, what they actually get is a lot of time spent hustling to make the sale and a final selling price that is less than what the market can bear.
  • FSBO sellers sold for prices lower than listed homes.  According to the report, the median selling price for all FSBO homes was $210,000 last year. For homes sold with the assistance of an agent, the median selling price was $249,000 ̶ almost $40,000 more for the typical home sale.

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