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FSBOs NO MORE?

November 19th, 2007 7:46 AM by Ron Mastrodonato

FSBOs NO MORE?

In the recent real estate boom, a lot of home sellers questioned the need for a Realtor in the transaction, thinking a home sale included little more than putting a “For Sale” sign in the front yard and waiting less than three days for an offer. But no more. The level of for-sale-by-owner (FSBO) transactions remains at a record low, according to the NAR’s 2007 Profile of Home Buyers and Sellers released yesterday at the 2007 Realtors Conference & Expo in Las Vegas. Only 12 percent of transactions in 2007 were FSBOs, unchanged from 2006. The level of homes sold without professional representation has declined since 1997 when a record 18 percent of transactions were FSBOs. The survey also found that four out of 10 FSBO properties were never available on the open market, but were “closely held” between parties who knew each other in advance, such as family members or acquaintances.

© 2007 FLORIDA ASSOCIATION OF REALTORS

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Posted by Ron Mastrodonato on November 19th, 2007 7:46 AM

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