The FSBO acronym stands for sale by owner. According to 2014 National Association of REALTORS® Profile of Home Buyers and Sellers, FSBOs accounted for 9% of home sales in 2013. The typical FSBO home sold for $184,000 compared to $230,000 for agent-assisted home sales. This equates to an increase in price of $46,000 (or 25% overall increase). Even if the seller pays an overall 7% in commission, the property owner still gets 18% more for his home. So why not list your home with a realtor? A lot of home owners still think that their home is still underwater with the the home value below the loan value. Let me provide you with a CMA at not cost. The results might shock you.
So you still think that Realtors are making too much for selling your home? Here are some statistics that might change your mind. Some of the key statistics of the 2015 Florida Realtors Member profile is as follows:
- 70 percent of respondents were compensated via percentage split-commission.
- The median gross income for Realtors in Florida was $40,200
- Members with 16-or-more years experience had a median gross income of $54,300; those with less than two years had an income of $9,300
- The typical business expense paid was $5,970
- The largest single expense category was vehicle expenses at $1,450 in 2014.
- Agents had 12 transactions in 2014 – the same number as in 2013
- 42% percent of residential specialists had a transaction involving a foreclosure; 34 percent had a transaction involving a short sale.
- The typical sales volume was $1.4 million in 2014.
- Difficulty finding the right property equaled the difficulty in obtaining mortgage financing (nationally, finding the right property ranked higher).
- The typical property manager managed 55 properties.
- Most Realtors worked 40 hours per week in 2014.
- 18 percent of business came from repeat business and 18 percent through referrals from past clients.
- Realtors spent a median of $130 to maintain a website in 2014.
- Members in Florida typically brought in four inquiries and three percent of their business from their website
- The typical Realtor is a 57-year-old white female who attended some college and owns her home.
- Education can vary greatly from Realtor to Realtor.
- 60 percent are female
- 22 percent had a previous career in management, business or the financial sector; 17 percent in sales or retail. For 5 percent, real estate is their first career.
- 78 percent say real estate as their only occupation – 85 percent for those with 16-or-more-years experience.
Thinking of buying real estate? You should consider using a realtor. If you are interested in buying real estate (new home, existing home, or commercial property), please contact me (Alan Lane with Keller Williams Realty at 2119 W Brandon Blvd, Brandon, Florida 33511). As a life long resident of Central Florida, I can help you find the right property for you whether it is in Lakeland or as far south as Sarasota. The Keller Williams offices of ”Suburban Tampa” include the offices in Brandon, Plant City, Fishhawk Ranch, and our newest office in Valrico. My email address firstname.lastname@example.org, or call me at 813.205.9280. If you are just starting your search, you can search the MLS for real estate opportunities on my website at this link.