For those of you looking to sell your home For Sale By Owner, there are recent figures released that may reinforce your decision to do so. A recent report from the National Association of Realtors (NAR) has found that sellers who choose to advertise and sell their homes privately without the help of agents, can achieve much better results.
Higher Averages
The results of the survey, which will surprise many, found that sellers who sell find their own buyers and manage the process themselves, create sales that are closer to the original asking price and sell quicker. On average, sellers managing their own sales manage to achieve on average 1% higher sales figures, (at 97% of the original asking price). On average it takes 10 weeks to sell with an agent, whereas selling privately a sale can be completed in 6.
Conclusive Proof
The extraordinary figures show conclusive proof that taking on the responsibility of a home sale is financially beneficial for those willing to advertise their own homes - and essentially saving 6% of the property sale price - after the survey questioned over 130,000 home buyers between 2007-2008.
Closer to Asking Prices
In another recent study by Stamford University, figures were shown that FSBO sellers were just as affective in selling their homes as agents. After commissions were taken into account, it was revealed that FSBO sellers retained more of their equity. It also revealed that on average agents achieve $5000, less than the average price, whilst private sellers have a better average on achieving the original asking price. Certainly figures to take into consideration when considering the importance of retaining capital through sales in the current economic climate, and your local property market.
Click Here to view the properties in your local market.