IF they are listed in the MLS
IF they have quality photographs
IF they are readily available for showings
IF they show well
IF they are priced well
Then they have as good a change as any FSBO would have even without all the inventory out there. The issue that plagues FSBOs in general is that they are often "unknown" to the real estate community. They are often not listed on the MLS, so most agents don't know about them. Their photos are unprofessional (dark and blurry), they're not readily available to show (I can only show when I'm off work, or on weekends, and this Sunday we have a wedding to attend so we can't show), and they are often (not always) priced incorrectly.
The vast majority of FSBO homes are eventally listed with an agent (I could not find the statistic, but I believe it was between 80%-90%)
Surprisingly, only 49% of FSBO sellers are choosing FSBO to avoid paying a commission. The majority of the other 51% are doing so because they already know the buyer.
Not so surprising, is that this is the reason FSBO homes that do sell, sell much faster is because they don't need to find a buyer, they already have one. Most of these sellers were in rural areas and sold for asking price.
The median selling price for agent sales only was $217,000, FSBO sales only was $172,000 and tried FSBO first then agent $143,000.
These are national statistics.
My opinion as to why, is that FSBO sellers do not have the tools or expertise to price their homes correctly and do not have the most used (by buyers) websites available to them, lack the expertise and have to negotiate for themselves (which is very difficult even for experienced negotiators). Buyers would rather but from a professional agent unless there is a huge price advantage in their favor when buying FSBO. As a result the buyers on the FSBO websites are bargain hunters and are expecting to pay less.
If you already have a buyer, I think it is worthwhile, otherwise, I think you end up with less money after all expenses that if you had paid a commission to a good agent.
Most owners of FSBO property do not have a good understanding of their home's value relative to the current local RE market and tend to want top dollar with as little professional representation as possible.
Four or five years ago, when the market was "hot" ....prices were high and inventory low, doing a FSBO was relatively easy. But times have changed, competition is stiff and inventory is busting at the seams.
Unless FSBO's understand the RE market and can compete with the distressed market(short sales & Foreclosures) they should stick to watching "Flip that House" on television.......
Why not? If it is priced properly and marketed diligently - it will sell.
There is even a greater chance of the home selling if they are willing to pay a commission to a selling agent.
FSBO's downfall is more about mis-pricing and poor marketing. If they can get these items right - they stand a good chance.
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Licensed in Maryland, Virginia and Washington, D.C.
Assisting Homebuyer's and Seller's for 28 years