Don't go it alone! For Sale By Owner Facts

Each year a small percentage of home sellers throw caution to the wind and go it alone, without the assistance of a licensed real estate professional. This ever-decreasing group of risk-takers ventures into the land of pricing, marketing, screening, scheduling, showing and paperwork, with the goal of saving some money. It's often an experience they find less than rewarding.

The numbers tell the story.

The median selling price of an open-market For Sale By Owner (FSBO) home was $185,000, while the median price for an agent-assisted sale was $215,000.

11% of recent sellers sold their home without professional representation. Pure FSBO transactions (where the seller did not know the buyer) remain historically low at 6%, according to the 2009 National Association of REALTORS® Profile of Home Buyers and Sellers.

Since 90% of recent buyers used the Internet in their home search, and unrepresented sellers have no access to resources such as the Multiple Listing Service or REALTOR.com and cannot list their homes there, it’s fair to assume that many buyers never see FSBO listings.

Selling a home is a full-time job.

In addition to today’s challenging marketplace, owners who try to sell their homes on their own face the increasing complexity of the transaction process, with more disclosures and legal requirements than ever before. Managing the appraisal process, inspections and buyer qualifications has become more complicated in a tougher credit market.

Unrepresented sellers often don’t understand the complexity, range and timing of tasks they’ll have to perform. In a competitive market, sellers need every advantage they can get.

Trust this transaction to a professional.

A professional real estate agent can help a seller set a realistic price and ensure that the proper paperwork and various disclosures and inspections are handled correctly. They know how to prepare a home and maximize value, provide broader exposure to the market and are more likely to generate multiple bids than sellers going it alone. Be sure your agent is a REALTOR®.

For-Sale-By-Owner (FSBO) data from NAR's 2009 Profile of Home Buyers and Sellers