Real Estate Blog

The numbers are in for 2016—selling your home with a REALTOR® could get you $60,000 more on your home sale. From the recently released 35th anniversary edition of the Profile of Home Buyers and Sellers report, homes sold with an agent or broker received a median of $245,000 in 2016 compared to the median selling price of $185,000 for For-Sale-By-Owner (FSBO) home sales. That number drops even lower to $168,300 when the FSBO seller knew the buyer, that’s $76,700 less than what sellers are getting with the help of a REALTOR®.

The top reasons that sellers decided to sell their homes without the assistance of an agent was that they did not want to pay a commission or fee (39 percent), they sold to a relative, friend or neighbor (33 percent), or the buyers

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The seasonally adjusted annual rate of 5.60 million is the highest rate since February 2007

The silver lining revealed in last month's National Association of Realtors existing home sales report has gotten a bit brighter thanks to would-be buyers coming out of hiding and taking advantage of a healthy autumn housing market.

In October, existing home sales rose 2.0 percentage points to a seasonally adjusted annual rate (SAAR) of 5.60 million — up from an upwardly revised 5.49 million in September.

October’s sales pace is 5.9 percentage points above October 2015 and blew past June’s pace of 5.57 million — which were the highest numbers seen since February 2007.

All regions experienced an uptick in sales, and distressed sales increased 1

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Buyer agents work to negotiate the best terms and price for the buyer. Best of all, the buyer agent’s services are free to the buyer.

Most buyer agents will have their clients sign an agency agreement, an Exclusive Buyer Agency Agreement. It outlines their services, how they are compensated, and how the two parties will work together.

The Seller has hired an agent to represent them in negotiations. Much like a hockey goalie, real estate agents are there to block bad deals from happening. Even FSBOs(For Sale By Owners) most often have consulted with a professional REALTOR® before putting their home on the market. Wouldn’t it be wise to bring a big stick to the ice rink?

Remember, you wouldn’t hire your spouse’s attorney to represent you in your

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