I understand why homeowners attempt to sell their homes without a Real Estate Agent. Either they do not see value in the service the real estate agent provides or they do not have the equity in their home to pay the real estate fees.
I always encourage people to try to sell their home on their own. In fact if you try to go this route I will even consult you to make the process easier for you free of charge. But the reality is the statistics don’t lie. The FSBO route usually ends in failure. It doesn’t matter if you are selling a home in Denver or any where else in the country, this method rarely leads to success. In fact, only 3% of FSBO’s succeed at selling their home without a professional Realtor. The people that are buying FSBO homes are typically the neighbor, a friend of a neighbor, or one of your friends. So in all reality if you are going to succeed at selling your home on your own you should know if you have a potential buyer in your back pocket within a week or two. So don’t spin your wheels for months attempting beat the stats.
Obviously the motivation to sell your home FSBO is to save the cost of paying the Realtors. Ultimately I know that even charging you a commission I can put more money in your pocket at the end of the transaction. Contact us if you would like to learn how we do this.
National Association of Realtors For Sale by Owner statistics for Denver, CO and U.S.
Below are statistics on FSBO’s (for sale by owners) and other sellers/buyers. Sellers need to understand that a quality real estate agent can save home sellers a lot of headaches, money, time, and a great deal of inconvenience.
The typical FSBO home sold for $187,200 compared to $247,000 for agent-assisted home sales.
FSBO Methods Used to Market Home:
- Yard Sign . . . 51%
- Friends/neighbors . . . 53%
- Newspaper ad . . . 31%
- Open House . . . 29%
- Internet . . . 22%
Most Difficult Tasks for FSBO Sellers:
- Getting the right price . . . 11%
- Understanding paperwork . . . 16%
- Preparing/fixing up home for sale . . . 18%
- Attracting potential buyers . . . 9%
- Having enough time to devote to all aspects of the sale . . . 9%
What Repeat Buyers Want Most From Real Estate Professionals
- Help you find the right house to purchase -53%
- Help with price negotiations – 13%
- Help with paperwork – 8%
- Tell you what comparable homes are selling for – 11%
- Help determining how much buyer can afford – 11%
- Help find and arrange financing – 2%