More Home Sellers Go On Their Own To Sell Homes
After three years in their 3,000-square-foot home, Judy and Roger Aitkenhead wanted to downsize.
Using a real estate agent, the Aitkenheads listed their Macomb Township, Mich., home in June 2007 for $324,000. After six months, the house had 17 showings but no offers as buyers snapped up similar homes for lower prices. When the contract ran out, the Aitkenheads chose a more adventurous route: for sale by owner, or FSBO.
Forgoing the agent allowed them to take $24,000 off the asking price when they relisted the home in May. The house sold four weeks later for $299,000. The buyer closed on the deal in July.
More homeowners are opting to sell homes on their own as the market is flooded with houses, prices fall and competition increases from cheap foreclosed properties.