"For sale by owner" web sites can generate higher prices than Realtors

[jeffrey]

Three economists decided to investigate whether using a for sale by owner (FSBO) web site could actually make homeowners more money compared to selling a house with a traditional real estate agent. The answer, at least in Madison, Wisconsin, is yes.

In the Dark Ages before the light of the Internet beamed across the land, Realtors (the term is trademarked) were the ones who had access to the lists of properties for sale in a given location. This information could be very difficult to collect on one's own without flying to the desired city and driving the side streets, jotting down addresses. But with the growth of the Internet, it's easy to list and share information, and even Realtors are opening up their listings to public access. In such a situation, does it still make sense to pay a six percent commission?

"For sale by owner" web sites can generate higher prices than Realtors

[finsub]

i liked the post

[TurningColorz]

If the FSBO system in question offers MLS listing, then it might be an advantage. I've sold 4 different properties through realtors, all sold within 30 days. This is why the MLS system is an important part, whether selling yourself, or through a realtor. All of my deals needed to close within a reasonable time, so I never had the luxury of "waiting" for buyers to appear. Yes these 4 transactions cost nearly 25k in commisions but Imagine having double mort pmts. for a month, or two, or 3. I've known people who tried to save money doing it themselves, only to end up paying a realtor after 6 months of double payments. If time is "of the esscence", pay the realtor's commission.

Just food for thought,
Mike

[loanstar]

the internet has really had an impact in almost every sector of society. more and more people would be doing FSBO if only they had the relevant information. but as it turns out, its easier to pay a fee than deal with the buyer, etc.