91% of homes sold in the United States are mediated by a real estate agent. Likewise, only 9% of homes are FSBO. A majority of FSBO sales occur between buyers and sellers that already know each other. Additionally, 88% of buyers will use a Realtor to buy a home.
When you compare the sale prices of FSBO sellers to Realtor-affiliated properties, there’s an interesting difference. In fact, there is 14% difference between the two. Typically, real estate agents help buyers earn 14% more compared to those selling on their own. Why is that?
Retail buyers usually pay a higher price. FSBO homes attracted a different demographic of buyers. They might be investors looking for a discount, buyers that don’t qualify for traditional financing, or a savvy buyer. Properties with seller’s agents have comission built into the price. Theoretically, these buyers will offer less since sellers aren’t paying a commission to hire a Realtor.
If you’re thinking of buying or selling a home in the Greater Phoenix area, give me a call at 602-738-9943. If you’ve considered the FSBO route, I’ll explain how much profit you’d earn if you worked with my team. I look forward to hearing from you soon!
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