- October 11, 2013
- Posted by: admin
- Categories: Posts, Real Estate Post
A helpful guide for property and real estate for sale by owner (FSBO).
The National Association of Realtors published this article recently on
FSBO properties – “For-Sale-By-Owner (FSBO) sellers decreased in 2010, continuing a
trend in declines downward. Fourteen percent of sales were FSBOs
in 2003 and 2004, compared to just nine percent in 2010. In this
tough market, a greater share of sellers is turning to agents to help
them sell their homes.
FSBOs are more popular in rural areas. Typically FSBO sellers have lower median incomes and are more often single sellers. FSBOs are also more common for mobile homes and vacant land sales.
Many sellers who opt for FSBOs are selling their property to
someone they know like a friend, relative, or neighbor. This helps keep FSBOs
on the market for less time and more often sellers receive 100 percent of the
FSBOs are less likely to use incentives. Yard signs and Internet
listings are the most popular method of marketing FSBOs. FSBO sellers most
often struggle with pricing and preparing homes for sale. Of those who
used FSBOs to sell to someone they knew, a greater share would use a
real estate agent when selling their current home.