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National Association of Realtors Admits that “By Owner” Sellers are Doing Well

by Carissa Kranz
Jan 19, 2010 — Medill Reports Chicago

“…The National Association of Realtors, despite its insistence that professional agents are better in determining an appropriate asking price, acknowledges that “by owner” sellers are doing well. The association says that home sellers who list their property “by owner” sell their home in 6 weeks while those homes listed with real estate agents typically stay on the market for 12 weeks. Also, “by owner” sellers on average achieve a sales price that is 97.5 percent of their asking price, while an agent-assisted seller gets 95 percent of that asking price.

On the buyers’ side, the Realtors Association admits, more buyers are looking to take control over their own housing search. According to data from the association’s profile, more than 90 percent of home buyers are looking to the Internet to educate themselves and explore the many options associated with housing research. That’s up from 87 percent in 2008, 84 percent in 2007, and just 71 percent in 2003.

Studies by Northwestern University and Stanford University have found that people who sell their home “by owner” are as effective as agents in maximizing the sales price of their home. These studies cite other research saying that more home buyers and home sellers will use the Internet more to educate themselves throughout the home buying and selling process….”  To Read the FULL STORY CLICK HERE