Fsbo
Are you thinking about selling you home yourself? Also known as FSBO’s (pronounced fizbo), these types of transactions can be more problematic for the homeowner and less profitable than they realize. The National Association of REALTORS’® (NAR) 2009 Profile of Home Buyers and Sellers provides insights that you should know if you are considering selling your home “By Owner”.
According to the NAR report, the typical FSBO home sells for much less than an agent assisted sale. “The typical agent-assisted home sold for $215,000 compared with $172,000 for the typical FSBO home.” (2009 NAR Profile of Home Buyers and Sellers, page 100).
Other difficulties reported by those who sold their home by owner include: difficulty preparing their home for the market, arriving at the right price, and understanding and performing the paperwork.
Among those who were successful selling their home as a FSBO, nearly half of those were “arms-length-transactions”. These situations are when the home seller and home buyer are acquainted. Further, 17% of sold FSBOs did not know the buyer and also did not actively market their home.
The National Association of REALTORS® also analyzed a percentage distribution of FSBO and agent-assisted sales by location. This was not a geographical analysis but an analysis of types of location. For example, they concluded that 13% of FSBO sales happen in small towns and 8% of FSBO sales occur in suburbs/subdivisions.
They also looked at the percentage of FSBO and agent-assisted sales between 2003 and 2009. For example 13% of real estate sales were FSBOs in 2008, but that number dropped to 11% in 2009.
Demographic data was also compiled by NAR regarding FSBO vs. agent-assisted real estate sales. For example, among all FSBO sales in 2008, the median income was $91,000. Out of those that sold their home by owner in 2008, 75% were married couples, 14% were single females, 6% were single males, and 4%were unmarried couples.
Because nearly half of FSBO sales occur between parties that are already acquainted, the time on market for a FSBO is less than an agent assisted sale. Among all FSBO’s sold in 2008, 21% sold in less than a week according to NAR’s report. Further, 18% sold in 1 to 2 weeks, and 10% sold in 3 to four weeks. However, it should also be noted that after 9 to 12 weeks, 12 % of FSBO’s listed with an agent. After 11 to 12 weeks that percentage rose to 18%.
The NAR Profile of Home Seller’s and Buyers also looked at: FSBO seller urgency, incentives offered to attract buyers, the reasons for selling a home as a FSBO, and methods used by FSBO sellers to market their home.
An analysis of where home buyers find their home reveals the benefits of working with an agent when selling a home. The NAR report stated that 36% of home buyers found the home that they purchased with a real estate agent and 36% found them online. Those who found their home with the assistance of yard signs and open house signs accounted for 12% of home buyers. Only 2% of home buyers found their home because they knew the seller. A deeper look at those who looked for a home online further reveals that most of those searches were either on the MLS or an agent’s website.
In conclusion, if you are opting to sell your home as a FSBO, you are likely going to sell yourself short and may even make a simple process more difficult. Further, those who sell their home “By Owner” limit the amount of exposure they receive. A real estate agent will get you more buyers looking at your home, get you more money, and guide you through all the potential pitfalls associated with selling a home. However, if you know the person you are selling to-it is the best reason to sell your home yourself.
Because you are reading this, you know that a technically savvy realtor will have your home advertised on every real estate website in the county within a few days, giving you maximum exposure. IF you would like to know what I can do, just call, e-mail, or text.
Showing properties
1 - 50 of 433.
See more 37064 zip code real estate.
(all data current as of
2/5/2012)
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$44,900 : 5518 HARGROVE RIDGE ROAD, FRANKLIN3 beds, 1 full, 1 part baths
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$65,000 : 5515 Taylor Cemetery Rd, Franklin2 beds, 2 full baths
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$75,810 : 115 Reveille Ct, Franklin3 beds, 1 full bath
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$89,900 : 142 Strahl St, Franklin2 beds, 1 full bath
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$97,500 : 320 Granbury St, Franklin3 beds, 2 full baths
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$99,900 : 153 Cadet Ln, Franklin4 beds, 1 full, 1 part baths
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$100,000 : 5605 Alex Ct, Franklin2 beds, 2 full baths
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$117,900 : 227 HELPING HANDS DR, FRANKLIN3 beds, 1 full bath
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$119,000 : 5431 Old Hwy 96, Franklin3 beds, 1 full bath
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$120,000 : 2013 Lewisburg Pike, Franklin2 beds, 1 full bath
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$124,900 : 5521 Jackson White Rd, Franklin3 beds, 2 full baths
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$125,000 : 1126 Park St, Franklin2 beds, 1 full bath
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$129,900 : 300 Ash Dr, Franklin3 beds, 2 full baths
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$129,900 : 3110 Ford Ln, Franklin3 beds, 2 full baths
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$134,500 : 314 Ash Dr, Franklin3 beds, 2 full baths
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$139,000 : 108 Daniels Dr, Franklin3 beds, 1 full bath
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$139,900 : 146 Cadet Lane, Franklin3 beds, 1 full bath
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$149,000 : 4454 Les Watkins Rd, Franklin3 beds, 2 full baths
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$150,000 : 2747 Owl Hollow Rd, Franklin2 beds, 1 full bath
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$150,000 : 5739 Bending Chestnut Rd, Franklin3 beds, 2 full baths
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$159,900 : 2202 Skylark Ct, Franklin3 beds, 2 full baths
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$159,900 : 1315 Robin Hill Rd, Franklin3 beds, 1 full bath
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$159,900 : 1332 Mallard Dr, Franklin3 beds, 2 full baths
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$159,900 : 1217 Mallard Dr, Franklin3 beds, 2 full baths
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$160,000 : 5624 Hargrove Rd, Franklin3 beds, 2 full baths
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$169,500 : 412 Figuers Dr, Franklin2 beds, 2 full baths
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$170,000 : 101 Dogwood Ln, Franklin3 beds, 1 full, 1 part baths
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$170,000 : 209 OXFORD DR, FRANKLIN3 beds, 2 full baths
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$173,900 : 814 West End Circle, Franklin3 beds, 2 full baths
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$174,500 : 303 Hardison Ave, Franklin4 beds, 2 full, 1 part baths
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$174,900 : 413 Shadycrest Ln, Franklin3 beds, 1 full, 1 part baths
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$178,500 : 417 Figuers Dr, Franklin2 beds, 1 full, 1 part baths
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$179,000 : 704 Countrywood Dr, Franklin3 beds, 2 full baths
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$179,900 : 211 Westfield Dr, Franklin3 beds, 2 full baths
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$179,900 : 500 N Petway St, Franklin2 beds, 1 full bath
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$179,900 : 5920 Pinewood Rd, Franklin2 beds, 1 full bath
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$188,000 : 808 Ronald Dr, Franklin3 beds, 2 full baths
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$189,900 : 110 Battlefield Dr, Franklin2 beds, 1 full bath
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$189,900 : 102 Pebblecreek Rd, Franklin3 beds, 2 full baths
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$192,600 : 403 Boyd Mill Ave, Franklin2 beds, 1 full bath
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$194,500 : 268 Granger View Cir, Franklin3 beds, 2 full baths
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$194,900 : 3157 Langley Dr, Franklin3 beds, 2 full baths
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$194,900 : 1309 Mallard Dr, Franklin3 beds, 2 full baths
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$194,900 : 2000 Roderick Pl E, Franklin2 beds, 2 full baths
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$199,000 : 415 Perkins Dr, Franklin3 beds, 1 full bath
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$199,500 : 404 Alicia Dr, Franklin3 beds, 2 full, 1 part baths
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$199,500 : 113 Rucker Ave, Franklin3 beds, 2 full baths
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$203,000 : 2009 Roderick Cir, Franklin3 beds, 2 full, 1 part baths
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$204,000 : 406 Alicia Dr, Franklin3 beds, 2 full, 1 part baths
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$209,000 : 2106 Roderick Place, Franklin3 beds, 2 full, 1 part baths
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