EXTRA CREDIT READING
TO "EXTRA CREDIT
Who Go Solo Usually End Up Looking for an Agent
Selling Your Home Can Be Difficult
By , James Fink, Sacramento Business Journal Online (06/25/01)
Even though the real estate market
has been bullish since the mid-1990s, a study by the National
Association of Realtors shows that the percentage of For Sale
By Owner (FSBO) transactions declined from 18 percent in 1997
to 16 percent in 1999. Moreover, a second study by the group
found that one out of every four FSBOs eventually went back
to an agent or broker – a number that would have been
even higher if not for successful deals involving special relationships
between the buyer and seller. Still another survey found that
only 32 percent of those selling their homes on their own would
choose the FSBO route in the future.
spokesman Walter Molony concedes that selling a home without
an agent is entirely possible but that sellers must then tackle
the legal requirements, mandated disclosures, and emotional
details that a Realtor is better suited to handle.
An experienced agent has the ability to
set up and monitor a showing, carry out a prescreening, and
spot the details that make the difference between a quick
sale and prolonged listing. Brokers also understand what information
is necessary to divulge to prospective buyers and what is
better left unsaid.
The typical FSBO remains on the market
30 days before the sellers become frustrated and turn the
listing over to an agent.