I was checking out www.realtor.org which can be a great resource and very informative. This site is the one actually tailored mainly to REALTORS themselves whereas www.realtor.com is more the site for home buyers and sellers. Both sites are informative and useful.
The reason for my research was I wanted to get a handle on the statistics for people who try to market their home, knows as For Sale By Owner or shortened to FSBO.
For Sale By Owner (FSBO) Statistics
FSBOs accounted for 9% of home sales in 2010. The typical FSBO home sold for $140,000 compared to $199,300 for agent-assisted home sales.
FSBO Methods Used to Market Home:
- Listing on Internet . . . 27%
- For-sale-by-owner Web site . . . 11%
- Yard sign . . . 46%
- Friends/neighbors . . . 39%
- Newspaper ad . . . 12%
- Open house . . . 14%
Most Difficult Tasks for FSBO Sellers:
- Getting the right price . . . 23%
- Preparing/fixing up home for sale: 18%
- Selling within the planned length of time: 14%
- Having enough time to devote to all aspects of the sale: 13%
- Understanding and performing paperwork: 10%
I think what struck me as most interesting from the statistics was that the most common method of advertising the property was a sign in the front yard at 46%. In todays world of technology there are clearly more effective ways to market your home.
In the luxury market in North Scottsdale we don’t see very many properties attempted to sell by this method, as evidenced by the average selling price of $140,000. Most of the Scottsdale, AZ market is priced considerably higher. I did however find one property for sale by owner for almost $10,000,000 so here’s a little bit of free marketing for them.
If you have considered selling your own home or maybe are trying to currently and feel you would like to discuss your options to market your home more effectively please feel free to connect with me.