Facts About Homes For Sale by Owner
The risks of selling your own home
Selling a home on your own is like representing yourself in a court of law – you are allowed to do it, but it’s a big risk for someone without the training, expertise and experience to do it right.
For Sale By Owner-sold homes (FSBOs) accounted for just 13 percent of home sales in 2008. Why so low? Probably because the typical FSBO home sold for $153,000 compared to $211,000 for agent-assisted home sales. It takes a lot to sell your home, and homeowners who don’t have the experience or the resources of a REALTOR® often have to make it up as they go.
For Sale By Owner Methods Used to Market Homes:
And once they have interested buyers, most homeowners don’t have the experience or resources to complete the sale smoothly and without complications.
Most Difficult Tasks for FSBO Sellers:
Source: 2008 National Association of REALTORS® Profile of Home Buyers and Sellers
Selling a home on your own is like representing yourself in a court of law – you are allowed to do it, but it’s a big risk for someone without the training, expertise and experience to do it right.
For Sale By Owner Methods Used to Market Homes:
- 45% Listing on Internet/FSBO website
- 42% Yard sign
- 33% Friends/neighbors
- 22% Newspaper ad
- 18% Open house
And once they have interested buyers, most homeowners don’t have the experience or resources to complete the sale smoothly and without complications.
Most Difficult Tasks for FSBO Sellers:
- 13% Selling within the planned length of time
- 12% Getting the right price
- 11% Preparing/fixing up home for sale
- 10% Understanding and performing paperwork
- 8% Having enough time to devote to all aspects of the sale
Source: 2008 National Association of REALTORS® Profile of Home Buyers and Sellers
