Real estate agents either love or hate working with FSBO listings, and due to the internet, advice on selling homes is more accessible than ever before. Despite this, only 8% of home sales in 2016 were FSBO (2016 NAR Profile of Home Buyers and Sellers), the lowest percentage of FSBO transactions since before 1981.
One possible explanation for this decrease is how complicated and time-consuming real estate transactions can be. Despite an owner having all the necessary forms, documents, contracts, and disclosures, the nuanced nature of the forms can make correctly completing them a challenge. Finding a buyer can also be difficult if the seller isn’t readily available to conduct showings due to work, family-duties, or any of the other things that compose ordinary life. And then when they do find a buyer, FSBOs have a median selling price of only $185K, compared with the agent assisted median of $245K (2016 NAR Profile of Home Buyers and Sellers). Continue reading