The Facts About "For Sale by Owner" or FSBO
If you own a home in Massachusetts you know first-hand the sacrifice it takes and the rewards it brings. It may be the single largest purchase of your life, is now your largest asset and, if you’ve owned it for more than a few years, has increased in value far faster than any other asset you own.
Before you attempt to sell on your own, consider this:
• Homes sold with the help of a real estate professional in 2006 sold on average for 32% more than FSBO sales.
• Just 13% of sellers chose the FSBO route in 2007, down 7% from 2006 figures.
• Over half of all FSBOs sold their homes to someone they knew prior to the transaction.
Most difficult tasks for FSBO sellers were identified as:
• Getting the right price
• Understanding paperwork
• Preparing/fixing up the home for sale
• Attracting potential buyers
• Having enough time to devote to all aspects of the sale
A REALTOR® Can Help
Of the sellers that chose to use the services of a REALTOR®, 64% reported they would definitely use or recommend the agent again and another 19% would probably do the same.
Sellers Rely on REALTORS® to:
• Help sell the home within specific timeframe
• Help find a buyer for home
• Help seller market home to potential buyers
• Help price home competitively
• Help seller find ways to fix up home to sell it for more
• Help with negotiation and dealing with buyers
• Help with paperwork/inspections/preparing for settlement
• Help see homes available for seller to purchase
(Source: 2007 National Association of REALTORS® Profile of Home Buyers and Sellers)