As published in Realtor Magazine®, the lively housing market over the last couple of years has motivated more consumers toward using real estate professionals rather than attempting to complete a transaction independently.
FSBOs made up only 7% of home sales in 2021—the lowest share since 1981—according to the latest Profile of Home Buyers and Sellers from the National Association of REALTORS®. That’s a stark contrast from 15 years earlier when 12% of sellers went the FSBO route during the 2006 housing boom, the data shows.
While sellers also were in the driver’s seat last year as bidding wars exploded and list prices soared, most of them—90%—still found value in working with an agent in 2021 to get their home sold, according to NAR research. This may mean consumers are getting the message that a REALTOR® is an ally in any housing market.
The top issues for which sellers are seeking your guidance, according to NAR data, are:
- Pricing a home competitively
- Marketing to potential buyers
- Negotiating a deal
- Finding a trustworthy, reputable professional
Talking Points to Convert Leads
NAR is helping you harness your influence by spotlighting the difference a REALTOR® makes to the success of a transaction at a new website, thedifference.realtor. The site emphasizes how REALTORS® abide by a strict Code of Ethics, observe standards of professionalism and are highly trained in the industry.
FSBOs Typically Sell for Less
FSBO listings sold at a median of $260,000 in 2021, significantly lower than the median of agent-assisted homes at $318,000, according to NAR’s 2021 Profile of Home Buyers and Sellers.
NAR is providing members with succinct language they can add to their websites and online profiles and bios, including static and animated social graphics, cover images, email signature banners and conversation-starters. This is intended to help provide a unified message around the value proposition of REALTORS®, NAR says. Association members are encouraged to leverage the resources about the value of the REALTOR® brand so consumers understand the REALTOR® difference.
“As members of the National Association of REALTORS®, we are unified by the REALTOR® brand and its iconic trademark ‘R,’” says NAR President Leslie Rouda Smith. “It’s important for consumers to understand that distinction. We need to engage with consumers in conversation that articulates our value.”
Source: https://magazine.realtor/daily-news/2022/08/30/fsbos-usually-soar-in-a-hot-market-not-this-time
