I thought it would be interesting to share some statistics from the NAR (National Association of Realtors) on trying to sell your home yourself. It’s a little eye opening, especially the selling price you get selling your home yourself, as compared to what you get listing with and agent. Feel free to contact one of use at HDVRE if you have any questions.
For Sale By Owner (FSBO) Statistics
· FSBOs accounted for 8% of home sales in 2015. The typical FSBO home sold for $185,000 compared to $240,000 for agent-assisted home sales.
· FSBO methods used to market home:
· Yard sign: 33%
· Friends, relatives, or neighbors: 21%
· Online classified advertisements: 10%
· Open house: 21%
· For-sale-by-owner websites: 7%
· Social networking websites (e.g. Facebook, Twitter, etc.): 9%
· Multiple Listing Service (MLS) website: 13%
· Print newspaper advertisement: 3%
· Direct mail (flyers, postcards, etc.): 2%
· Video: 1%
· None: Did not actively market home: 41%
· Most difficult tasks for FSBO sellers:
· Getting the right price: 18%
· Preparing/fixing up home for sale: 13%
· Understanding and performing paperwork: 12%
· Selling within the planned length of time: 3%
· Having enough time to devote to all aspects of the sale: 3%
Home Seller Statistics
· The typical home seller in 2015 was 54 years of age, had a median household income of $100,700, and lived in their home for 10 years.
· 89% of sellers were assisted by a real estate agent when selling their home.
· Recent sellers typically sold their homes for 98% of the listing price, and 37% reported reducing the asking price at least once.
· The typical home sold was on the market for 4 weeks.
· 64% of sellers who used a real estate agent found their agents through a referral by friends or family, and 25% used the agent they previously worked with to buy or sell a home.
· Sellers who definitely would use same agent again: 70%