To determine if for sell by owner listings provide more benefits, Trulia [1]’s Housing Data Analysts reported where these listings are the most common and how they differ from agent-listed properties in price and DOM.
Nationally the data reveals that FSBOs are listed about 2 percent more than a similar home listed by an agent, and according to Trulia, FSBOs sometimes sit on the market longer than agent listed homes.
Overall, only 6.2 percent of all listings were for sale by owner, and the report noted that Tulsa, Oklahoma had the highest percentage of FSBO listing across the nation at 12.7 percent.
The largest positive difference in listing price for a FSBO is in Pittsburg, Pennsylvania, where a “comparable FSBO home is listed at 12.9 percent premium to an agent-listed home." In Philadelphia, Pennsylvania is where there is the largest negative difference in FSBO listing prices at -14 percent.
Though data shows that there are some benefits for sale by owner sellers, it is important to note the value and knowledge of the industry that professionals, like agents, can bring to the table. And Trulia’s information reveals that it is important to remember that agents have access to resources, including home stagers, lenders, home inspectors and legal help. Agents also know what marketing approach works in a market, and according to Trulia, "perhaps even more importantly, agents know that a listed price is just a starting point."
To view all of Trulia's data, click here [2].