Home » Uncategorized » “Owner” Home Sales Drop Lowest Level on Record

“Owner” Home Sales Drop Lowest Level on Record

Owners have many options when they decide they’d like to move on from their current home, but fewer are looking to do it alone. According to the National Association of REALTORS® 2015 Profile of Home Buyers and Sellers, only 8 percent of home sales last year were those in which the seller went through the process without an agent – known as for sale-by-owner sales or FSBOs – the lowest percentage since NAR began tracking these sales in 1981.

FSBO sales have dropped 5 percent in the last 10 years, down from 13 percent in 2005. The most common reasons are that sellers didn’t want to pay a commission or fee (48 percent); they were selling to a friend, relative or neighbor (21 %); or they were contacted directly by a buyer (18 %).

As FSBO sales have gone done over the last decade, the use of a real estate agent representing sellers has increased; 89 percent of sellers used a real estate agent – up 1 percent from last year and 5 percent from 10 years ago. Represented sellers agree that they will likely receive a sale price “on the high side” of fair market value when their home receive the greatest level of exposure to the market.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s