Monday, January 22, 2007

Fewer Sellers Go FSBO in Slow Market

When the housing market slows, sellers know it can be a lot tougher to turn their property into a buyer magnet. With more homes on the market and increased pressure on pricing, buyers have more power in the process.

For-sale-by-owner transaction have fallen over the past decade to 12 percent of all sales today from 18 percent in 1997, says the NATIONAL ASSOCIATION OF REALTORS®.
NAR spokesman Walter Molony says sellers believe real estate practitioners are better equipped to achieve fast sales at top dollar in a weak market, adding that the median price for agent-assisted transactions was about 16 percent higher than FSBO sales last year.

Practitioners orchestrate showings, handle paperwork, and identify serious buyers for sellers, Moloney says.

(Source: National Association of Realtors)

Richard's Notes.... If your thinking of selling your home, hire a local real estate professional who is familiar with your neighborhood, able to use the internet to market your house to its full potential, and able to return calls and emails quickly.

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