Should I Sell a FSBO (For Sale By Owner) in Portland?

for sale by owner Portland

According to the NAR (National Association of Realtors) 2013 report, only 9% of today’s sellers are FSBO (For Sale By Owner). This is close to the Portland Real Estate Market as well, where NAR report 8% of Urban market areas are FSBO.

Are FSBO sellers successful?

In a recent Fall 2012 survey a huge study was done of home sellers nationwide by HomeGain. The survey reported sellers who used real estate agents were twice as likely to sell their home than FSBO. About 2/3 of home sellers who used a real estate agent successfully sold their home, while only 1/3 of FSBO owners sold their home.

Of those who did sell, according to the NAR report, 40% knew the buyer personally. Also, nearly 32% of FSBO sellers did nothing (not even a yard sign) to advertise their home. With those pieces of information, we can put together a simple story. When a home owner decided so sell their property themselves, only 1/3 are successful and over 40% probably ended up selling to a friend or relative. Can I say that is not the best way to get top dollar for your home?!

The numbers bear this out. According to NAR 2013, the medium selling price of a FSBO home was 184,000 while the medium selling home of a real estate agent sale was $225,000.

Also, NAR reports over 88% of all home buyers are represented by a real estate agent. Portland real estate agents have the lion share of the buyer’s pool and we know who is or is not representing the buyer. Now, I think this is a good thing and leads to a safer real estate market for everyone involved. Real estate agents have a lot of experience, licensing, and required continuing education to guide their clients through a paper filled, intensive process.

I highly recommend using a fully qualified, full representation, top Portland real estate agent with tremendous selling experience, increased marketing and reduced fees!

November 12, 2013
AUTHOR

Stephen FitzMaurice

Stephen FitzMaurice, Realtor is a top 5% real estate agent in the U.S. and a top 1% agent in the Portland Metro. Principal Broker in Oregon, Managing Broker in Washington he has been licensed since 2003 for residential real estate sales in the Portland Metro area. Call him direct: 503-714-1111.

Pay less (4.5% commission max.) and get more with his top 1% listing team or buy your next home with his excellent top 1% buyer’s team. We work from Salem, Oregon to Vancouver, Washington and beyond. Check out our full services areas on the top menu.