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How Seller Sold Home, 1991-2013

  • The share of home sellers who sold their home without the assistance of a real estate agent was nine percent. Of that nine percent, forty percent knew the buyer prior to home purchase.
  • Eighty-eight percent of sellers were assisted by a real estate agent when selling their home.
  • The primary reason that sellers choose to sell their home without the assistance of a real estate agent to a buyer they did not know was that they did not want to pay a fee or commission (46 percent).
  • Approximately one-third of FSBO sellers took no action to market their home, and 64 percent did not offer any incentives to attract buyers.
  • The typical FSBO home sold for $184,000 compared to $230,000 among agent-assisted home sales.

For more information on the annual Profile of Home Buyers and Sellers, click here.

Jessica Lautz, Managing Director, Survey Research and Communications

Jessica Lautz is the Managing Director of Survey Research and Communications. Jessica analyzes data and writes annual studies such as the Member Profile, the Profile of Home Buyers and Sellers, and the Commercial Member Profile.

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Comments
  1. Excellent comprehensive report that should open the eyes of Sellers that are thinking now is the time to sell. All REALTORS should Tweet this report. Thanks Jessica!

  2. Dale

    Hi Jessica,

    Just curious – where did you get your information from?

    Dale

  3. T.J. Doyle, Marketing & Communications Manager

    Dale, the information comes from the Profile of Home Buyers and Sellers:
    http://www.realtor.org/reports/highlights-from-the-2013-profile-of-home-buyers-and-sellers

  4. Fed Up

    Worth mentioning is that the higher average sales price is likely driven up by premium listings. In other words, using a realtor doesn’t mean my $184,000 house will sell for $230,000.

    Today it’s easy for sellers to discover home value. I highly doubt FSBO sellers are giving away nearly $50k or are that blind to the market value of their home.

    Instead of touting that partisan “fact”, realtors should create a strategy to work with FSBO sellers. Or just pretend the FSBO market doesn’t exist and go on with your lives.

  5. Ray

    Let’s not overlook the power of social media and the impact it could have on these numbers. FSBOs without it did 18% to 15% demonstrating a possible share. As more sellers mature from an age group that is highly proficient in the social media, I would not be surprised to see some FSBO growth going forward. The real question is will real estate professionals be prepared to properly engage this social media age group with an advantage over the FSBO seller.

  6. mark

    Ray’s comments brings up an excellent point. The willingness of professional Realtor’s to engage FSBO’s has always been hit or miss. Neglecting 9% of the market with inventories at historical lows…it might be time to re-examine embracing the FSBO market. Re-examining will definitely entail learning to comprehend FSBO trends and there presence in social media.

  7. Thanks for sharing. Interesting graphical analysis. While most home owners choose to go the FSBO route in selling their home to avoid paying fees or commission to real estate agents. The reality is they can often make more if they hire a realtor, even if they do pay the real estate agents commission. Another important factor is that homes FSBO often stay on the market longer. So are homeowners really saving when they. Choose to avoid realtors fees?