2009-Another Bad Year for the For Sale By Owner (FSBO) Seller

Posted in Southeast Michigan Real Estate by Michigan Real Estate Expert on November 23rd, 2009

The National Association of Realtors (NAR) recently released the results of its annual suvey of homebuyers and sellers and they once again confirm that it makes little sense to try and sell your home by yourself.

In 2009, the FSBO seller had a 6% chance of selling to someone that he or she did not already know. Add to that the fact that, on average, he or she would have sold for 25% more had they hired a REALTOR, you have to wonder why anyone would even try. The most important reason given by the FSBO sellers to try to sell by themselves was to avoid paying a commission. So, those that succeeded, ended up netting 19% less assuming they “saved” a 6% commission.

The most difficult tasks reported by the FSBO sellers were, among other things, setting the right price, understanding and preparing the paperwork, selling within the needed time, attracting buyers, having enough time to devote to the sale and helping the buyer obtain financing.

If you’re thinking about selling your Southeast Michigan real estate, I can help you get top price.  Call me  today at 248-514-2640 or email me at info@NorthWoodwardHomes.com for more information.

Lee Morof sells North Woodward Homes in Oakland County Michigan

Lee Morof
RE/MAX Showcase Homes
Birmingham, Michigan
Call:  248-514-2640

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