Consumer Reports Finds That Home Sellers Get More Money
for Their Home When Selling without an Agent
NEW YORK (Business Wire EON/PRWEB ) August 21, 2008 --
According to a study conducted by Consumer Reports published in the
September 2008 issue, home sellers who used a real estate agent received
less money for their homes than sellers who sold their home without an
agent. The study found that homeowners who sold with the help of an
agent received $5,000 less, on average, than the home’s
original asking price. Meanwhile, the study found that almost all people
who sold without using an agent received what they originally asked.
“In today’s market,
where home prices are dropping, it’s more
important than ever for sellers to maximize their sales price,”
said Greg Healy, Vice President of Operations for ForSaleByOwner.com. “It’s
clear from this Consumer Reports research that sellers are better off
using a ‘for sale by owner’
method to sell their homes. Not only will they get their asking price,
they’ll also avoid paying an expensive
commission fee that would only lower the amount they actually receive
for their home. For a $300,000 home, the $5,000 price differential and
the commission paid to the agent represent a loss to a home seller of
more than $20,000.”
“Consumer Reports is a well respected
publication and its research should help more people understand the
financial advantages of selling their own home,”
added Healy.
The research from Consumer Reports is similar to findings of studies
conducted by Northwestern University and Stanford University. Each of
those studies found that “for sale by owner”
sellers receive more money for their homes than those who use real
estate agents to sell their homes.
About ForSaleByOwner.com
ForSaleByOwner.com is the
nation’s leading for sale by owner website.
Since 1999, ForSaleByOwner.com
has saved home sellers more than one billion dollars by providing
premium Internet marketing services, real estate guidance and
information, as well as live customer support, to help customers
independently sell their own homes. The company offers a wide range of
advertising and real estate resources, modestly priced from $89 to $899.
In contrast, a person selling a $300,000 home through a real estate
agent would be charged a 6% commission fee and pay approximately
$18,000. Prospective homebuyers can browse the ForSaleByOwner.com
database of properties at no charge.
See the original story at: http://eon.businesswire.com/releases/consumer/reports/prweb1236624.htm
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