The 2009 Profile of Buyers and Sellers has been published by the National Association of REALTORS® (“NAR”). Their own data busts another myth in the real estate market and show that FSBO homes do not take longer to sell than do homes sold by REALTORS.
Here are the facts:
Among home sold by real estate agents, it took, on average, six weeks to sell in 2006 and ten weeks to sell in 2009.
Among FSBO home sales (where the homeowner did not know their buyer before the sale), it took an average of four weeks in 2006 and only six weeks in 2009! That’s 40% less time on market for FSBO vs. agent-assisted sales in 2009. And for most sellers, that’s a difference of at least one mortgage payment. Furthermore, nearly 75% of all FSBO home sales were completed within 3 months.
Check out more FSBO Mythbusters here!
