In our Jacksonville market, we are beginning to get more and more inquiries from FSBOs. The reasons are pretty obvious, I suppose. Even homes listed in the MLS are taking MUCH longer to sell than they were just a few months ago so, without adequate marketing these homes aren't even being noticed. And to make matters even worse for those trying to sell on their own, they don't seem to be aware of the fact that double and triple digit appreciations are over (at least for the time being).
In our farm area alone, we are seeing FSBOs at $15K to $50K overpriced. If they are able to sell at these prices (more power to them), the unsuspecting buyers who thought they were getting a deal by not using an agent are the ones losing out. Regardless of the market, whether you are a buyer or a seller, statistics indicate you'll be better off by contracting the services of a professional. After all, we're talking about the largest investment most people own.
ABOUT THE BLOG OWNER
TIMOTHY H. FENNELL, PA
Tim Fennell is a Florida licensed Real Estate Broker with Legends Land and Realty, Inc. in Jacksonville, Florida.
His strong background in business development, real estate investments, counseling and marketing greatly enhance his skills as a Listing and Internet Marketing Specialist.
Tim and his wife, Susan, have over 30 years experience in Jacksonville Real Estate sales, marketing and investing. Both are Accredited Consultants in Real Estate (ACRE®). When you're ready to be consulted with, rather than sold to, give Tim and Susan Fennell a call.
Visit Authors Website →
I think as the slower market progresses we'll see a drop of people going the FSBO route. As their houses linger on the market longer they'll realize the need for an experienced agent who knows how to market it.
When it's a sellers market the buyers come to the sellers, but when that changes to a buyers market the sellers have to seek out the buyers.