For Sale Buy Owner Statistics
Some interesting statistics if you're thinking about selling your home "For Sale Buy Owner."
FSBOs accounted for 8% of home sales in 2016. The typical FSBO home sold for $190,000 compared to $249,000 for agent-assisted home sales.
FSBO methods used to market home:
Yard sign: 35%
Friends, relatives, or neighbors: 24%
Online classified advertisements: 11%
Open house: 15%
For-sale-by-owner websites: 8%
Social networking websites (e.g. Facebook, Twitter, etc.): 13%
Multiple Listing Service (MLS) website: 26%
Print newspaper advertisement: 5%
Direct mail (flyers, postcards, etc.): 4%
None: Did not actively market home: 28%
Most difficult tasks for FSBO sellers:
Getting the right price: 15%
Understanding and performing paperwork: 12%
Selling within the planned length of time: 13%
Preparing/fixing up home for sale: 9%
Having enough time to devote to all aspects of the sale: 3%
Home Seller Statistics
The typical home seller in 2016 was 55 years of age, had a median household income of $103,300, and lived in their home for 10 years.
89% of sellers were assisted by a real estate agent when selling their home.
Recent sellers typically sold their homes for 99% of the listing price, and 22% reported reducing the asking price at least once.
The typical home sold was on the market for 3 weeks.
41% of sellers who used a real estate agent found their agents through a referral by friends or family, and 23% used the agent they previously worked with to buy or sell a home.
Sellers who definitely would use same agent again: 67%