In 2010, the median FSBO (For Sale by Owner) selling price was $140,000 compared with $199,300 for agent-assisted transactions.  Typical Realtor commission is a total of 6%.  Given that the realtor incurs all the costs for marketing, advertising, education and training.....seems to be quite a 'deal' for the value received.  It's interesting that when negotiations begiin on a home being sold by the owner, the buyer offers the listing price, minus at LEAST 6%....why? because there is no real estate commission, and they feel it gives THEM the edge in negotiations!!!

 

For Sale By Owner (FSBO) Statistics FSBOs accounted for 9% of home sales in 2010.

The typical FSBO home sold for $140,000 compared to $199,300 for agent-assisted home sales.

FSBO Methods Used to Market Home:

     • Listing on Internet . . . 27%

     • For-sale-by-owner Web site . . . 11%

     • Yard sign . . . 46%

     • Friends/neighbors . . . 39%

     • Newspaper ad . . . 12%

     • Open house . . . 14%

Most Difficult Tasks for FSBO Sellers:

     • Getting the right price . . . 23%

     • Preparing/fixing up home for sale: 18%

     • Selling within the planned length of time: 14%

     • Having enough time to devote to all aspects of the sale: 13%

     • Understanding and performing paperwork: 10%

A little known fact is that majority of Realtor’s do not show homes that are For Sale by Owner simply because they don’t know they exist!  Realtors do their searches for active homes in the MLS system which does not display FSBO’s.