Hampton Roads REALTORS® Association - Comsumer's Center - Facts About FSBO's

Hampton Roads REALTORS^® Association

Consumer's Center - Facts About FSBO's - "For Sale By Owner"

The typical "For Sale By Owner" is 45 years old, has a total household income of $65,000, and previously owned more than one home.
Nine out of every ten homes sold by FSBO is a detached single family home.
FSBO's are rarely seen in resort properties or rural areas.
Even though the characteristics of the homes are the same, private sellers typically sell homes for lower prices compared to sellers who used a professional real estate agent.
Twenty five percent of all private sellers have problems attracting potential buyers.
The most frequently cited problems FSBO's experience are: getting the right price; selling in the length of time planned; and understanding and performing all of the required paperwork.
Approximately 20% of private sellers indicated they would use a real estate professional the next time they sold their home.
During times of economic stability, FSBO activity increases. But when the market condition weakens, owners are more likely to use a real estate professional.

(*Adapted from NAR Publication "Outlook, the Homebuying and Selling Process")