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(Updated December 2012)
For-Sale-By-Owner (FSBO) sales declined to 10 percent of sales transactions in 2011, down from 14% of sales in 2003. 40% of FSBO sales occur when the seller knows the buyer, since a real estate agent is not usually needed in those types of transactions. Small towns and resort areas tend to have the highest rates of FSBO sales, with only 7% of suburban area transactions being FSBOs. Typically FSBO sellers have lower median incomes and are more often singles, especially single males. 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. In this Field Guide you'll find dozens of articles, books, videos, studies, statistics and Web sites to help you find out who FSBOs are and how to work with them. (D. McCormick, Operations Analyst)
Most Important Reason for Selling Home As FSBO
- Did not want to pay commission fee: 37%
- Sold it to a relative / friend / neighbor: 27%
- Buyers contacted seller directly: 16%
- Agent was unable to sell home: 8%
- Did not want to deal with an agent: 8%
- Seller has a real estate license: 2%
- Could not find agent to handle transaction: 1%
- Other: 2%
Source: 2012 Profile of Home Buyers & Sellers, (National Association of REALTORS® - Research, 2012).
Information from NAR
Rebenchmarking Reflects FBSO Drop, (Speaking of Real Estate Blog, National Association of REALTORS®, Dec. 22, 2011).
What is a 'Lead' to you?, (REALTOR® Magazine, Aug. 2011).
The Vanishing FSBO, (Speaking of Real Estate Blog, National Association of REALTORS®, Jan. 6, 2011).
FSBO: Talking Points and Background, (National Association of REALTORS® - Public Affairs, Mar. 12, 2010).
Fanning the For Sale By Owner Flames, (REALTOR® Magazine, Jan. 2009).
Public Advocacy Campaign: Don't Try this at Home, (National Association of REALTORS® - Public Affairs) - Print ads, web banners, and other advertising material for targeting FSBOs.
The FSBO Market
10 Rules for Selling Your Home on Your Own, (mainstreet.com, Nov. 3, 2012).
Nine FSBO Mistakes to Avoid, (Tallahassee.com, Nov. 2, 2012).
FSBO Woes: Why It’s So Hard to Sell Your Own Home, (Realtor.com, 2000).
Latest FSBO trends, (Realty Times, Sept. 23, 2011).
6 Steps to Consistently Listing FSBO, (RISMedia.com, Dec. 3, 2010).
NAR buyer and seller survey shows value of long-term home ownership, (RISMedia.com, Nov. 9, 2010).
Agents: FSBO Training, (Realty Times, Oct. 4, 2010).
Entering the For-Sale-By-Owner World, (Realty Times, June 26, 2009).
For Sale By Owner? In This Market?, (Baltimore Business Journal, June 19, 2009).
Should You Go FSBO?, (RISMedia.com, Apr. 4, 2009).
How to Add Over Six Figures to Your Income Prospecting FSBOs, (Realty Times, Jan. 30, 2009).
Real estate agents vie with Internet for hearts and minds of buyers and sellers, (The Business Review (Albany), Aug. 22, 2008).
FSBO Websites: Yahoo! provides a list of over 40 FSBO Websites that you may want to be aware of.
Working with FSBOs
Entering the For-Sale-By-Owner World, (Realty Times, June 26, 2009).
How to Add Over Six Figures to Your Income Propspecting FSBO's, (Realty Times, Jan. 30, 2009).
Tips for Positioning Yourself as the Local Internet Real Estate Expert, (RISMedia.com, Jan. 13, 2009).
15 Powerful Ways to Find Prospects and become a Stronger Agent, (RISMedia.com, June 13, 2008).
What to say to FSBOs, (Florida REALTOR® Magazine, June 2008).
Books, eBooks & Other Resources
eBooks.realtor.org
The following ebooks and digital audiobooks are available to NAR members:
Easy Step by Step Guide to Successful Selling(Kindle, Adobe eReader)
The Home Seller's Checklist: Everything You Need to Know to Get the Highest Price for Your House(Adobe eReader)
How to Sell Your Home in Any Market(Kindle, Adobe eReader)
Selling in Tough Times(Kindle, Adobe eReader, Overdrive Audiobook)
Seven Steps to Sold: The Secrets to Selling Your Home for Big Bucks... Fast!(Kindle, Adobe eReader)
42 Rules to Increase Sales Effectiveness (Kindle, Adobe eReader)
Winning New Business (Kindle, Adobe eReader)
Field Guides & More
These field guides and other resources in the Virtual Library may also be of interest:
Field Guide to Effective Online Marketing
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