If you’re considering putting your house up for sale, you’re probably looking at a number of options. You could hire a real estate agent, sell to a real estate investor, or try to sell your house yourself. Each option has benefits and drawbacks, and here we’ll focus on FSBO and take a look at some facts and statistics regarding for sale by owner homes.
According to the NAR (National Association of Realtors) 8% of homes sold in 2014 were for sale by owner. FSBO sellers got anaverage of $210,000 for their property as compared to $249,000 for other methods. As far as marketing goes, the most commonmethod, at 42%, is a yard sign, followed closely by friends, family, and neighbors, at 32%. 15% of for sale by owner homes are listed on FSBO websites, as well as social media sites. Of FSBO sellers, 14% use online advertising, and an equal number utilize open houses. Just 10% of people selling for sale by owner homes pay to list their house in the MLS.
In addition, there are tasks that FSBO sellers find difficult. The most significant of these is selling within the planned timeframe, at 18%, followed by understanding and executing the paperwork, at 12%. Other parts of the process that sellers find difficult are getting their house ready for sale, and have the time necessary to devote to the selling process. People also have difficulty setting an appropriate price for their home.