Only 9 percent of today’s sellers are FSBO sellers, and among those who chose the FSBO route, 40 percent knew the buyer who bought their home. Among those who did not previously know the buyer of the home, 18 percent of those were contacted directly by the buyer to purchase the home. Taking these factors into account, the FSBO market of sellers who sold their home without knowing the buyer, and those who were not directly contacted by a buyer, is significantly smaller. FSBOs typically have a lower median selling price, though FSBOs typically received 98 percent of their asking price. Those who first tried to sell their home as a FSBO, but ultimately sold via an agent, were the youngest of all sellers and had the highest median household incomes. Every home seller must eventually decide whether to hire a REALTOR® or to sell the home on their own. But even after they decide to go solo, FSBOs can still be convinced to use a REALTOR®’s expertise.
Most Important Reason for Selling Home as FSBO
- Did not want to pay commission fee: 46%
- Sold it to a relative / friend / neighbor: 24%
- Buyers contacted seller directly: 12%
- Did not want to deal with an agent: 11%
- Agent was unable to sell home: 4%
- Could not find agent to handle transaction: 2%
- Seller has a real estate license: 1%
- Other: * less than 1%
Source: 2013 Profile of Home Buyers & Sellers, (National Association of REALTORS® – Research, 2013).