Steamboat Real Estate

FSBOs–For Sale By Owner

In Steamboat, it is common to see FSBO listings in the newspaper. Our home prices are high, and people want to save money. Here are some interesting stats about FSBO’s and why most of them end up listing with a realtor.

• The median home price for sellers who use an agent is 16% higher than a home sold directly by an owner–even after subtracting a commission, sellers will net more money using a Realtor.
• Buyers who use the internet (and 81% of buyers start on the web) are more likely to use a Realtor than non-Internet users.
• Non-internet users tend to buy directly from a builder or a homeowner they knew in advance of the transaction.
• For Sale By Owner transactions are at a record low. What are sold tend to be private transactions between buyers and sellers who knew each other.
• Local newspapers are only used 15% of the time by buyers. Realtor.com is the #1 Internet resource–over half the buyers go there to find homes, and only homes listed by Realtors are on it.
• The majority of FSBO’s eventually list their home with a Realtor.
• If you would like a free market analysis, I’d be happy to give you suggestions on how to price your home. Click here for home valuation.

–Copyright NAR, “Home Buyer & Seller Survey Shows Rising Use of Internet, Reliance on Agents” 1/06

Comments