Fewer opt to sell without agent
In today’s residential real estate market, it’s harder than ever to sell a home. It’s little surprise, then, that a new study shows that fewer homeowners are selling their homes for-sale-by-owner.
The number of people who sell their homes without the help of a real estate agent has been declining since 1997. That hasn’t changed this year. The Profile of Home Buyers and Sellers, released earlier this week by the National Association of Realtors, shows that 12 percent of real estate transactions in 2007 were of the for-sale-by-owner variety. In 1997, by comparison, 18 percent of transactions were for-sale-by-owner deals.
Real estate agents often get a bad rap. I’ve been critical, too, in this blog. But the truth is, I’d never attempt to sell a home without one. The paperwork involved in moving a home is immense. Agents also handle the burden of scheduling showings, marketing properties and negotiating with potential buyers.
This last bit is important: We’re now in a buyer’s market. Buyers know this. And many of them are negotiating aggressively. They’re asking sellers to lower their prices, cover their closing costs or provide funds for future repairs. Sellers need the skills of a savvy real estate agent to hammer out a fair deal for a good price.
I’m not surprised, then, that the for-sale-by-owner numbers are on the decline. Selling without a real estate agent in today’s market can be a mistake, a costly one.
Tags: for-sale-by-owner, FSBO, Profile-of-Home-Buyers-and-SellersRelated Stories
POSTED IN: Breaking News, Buying a Property, Insights and Commentaries, Real Estate Terms, Selling a Property
2 opinions for Fewer opt to sell without agent
jp
Sep 11, 2008 at 9:43 pm
Well I find it interesting that people of intelligence do not have the ability to think and create out of the square. definitely not someone who has seen ‘The Secret’ or who can create life beyond that of the slave consciousnesss people are typically living in.
Being at the effect of the Buyers market is in the 90% thinking bracket.
Dan
Sep 12, 2008 at 3:23 am
HI, JP:
Thanks for your comment. There’s certainly nothing wrong with being more creative in how you try to sell your house or accomplish anything else in this world. However, I can’t agree with you regarding The Secret. The way I see it, The Secret is a bit of a scam. Positive thinking is good. But positive thinking alone results in nothing. Just think of all those people who think all day about winning the lottery …
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