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. . . Realtor's Status Quo
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    Caution: For sale by owner ahead!
Beware of unrepresented buyers & sellers!


Yes, those were the headlines of articles published recently by local Realtors. Over the years the local area newspapers have published a slew of articles designed to strike doubt and fear into the hearts and minds of FSBO Sellers and Buyers. We would like to discuss some of those thoughts and doubts expressed by those who have a vested interest in maintaining the Realtor’s status quo.

Another Successful FSBOWhen it became evident that successful FSBO's were on a rapid rise in the QCA, local Real Estate companies and the area Realtor Association began a campaign designed to make FSBO's doubt their ability to do a good job resulting in a successful closing. Articles were printed and mailed to FSBO sellers (using, as it is customary now, QCFSBO.com as their personal mailing list) advising them that they were engaged in an effort most likely doomed to failure.

Many letters cited some ancient statistics stating that over 90% of FSBO's ended up listing with a Realtor. They would say things like "Did you know that 89% of For Sale By Owner homeowners end up losing much more money than if they had hired a Realtor?" Sellers were assured that after all it really wasn't their fault, they didn't have the MLS or professional training.

Of course, all these statistics had no relevance to what was happening to the FSBO's in the QCA. As we have shown in our case studies here, the reality is exactly the opposite. Sellers may end up losing a lot more equity when they leave QCFSBO® to list with Realtors.

When those articles failed to sway Sellers' minds and it became evident that FSBO's really were a stubborn, determined and capable bunch, the Real Estate community instead figured on changing the course by attempting to strike fear and doubt into the hearts of the buyers. Buyers were cautioned to avoid buying homes from unrepresented sellers (aka FSBO) who obviously had no clue as to what they were doing. Never mind the fact that many of our FSBO customers are top executives at large public corporations, but according to these articles, they are simply not smart and knowledgeable enough to sell their own homes!

Numbers Tell a Different Story

So, we thought it will be interesting to compile statistics of home sales in Quad City Area. Any buyer or seller of home in our area knows the national statistics given by National Association of Realtors (NAR) do not represent the market condition inSold by FSBO the Quad City Area.

As for example, NAR claims on its website ...

“ Homes sold with the help of a real estate professional in 2006 sold on average for 32 percent more than FSBO sales. The median FSBO selling price in 2006 was $187,200, compared with $247,000 for agent-assisted transactions.”

Clearly, that is not what is happening in the Quad City Area. In fact, any property that does not sell after 60 days on QCFSBO.com rarely sells for that price, let alone for a higher price. Take a look at the statistics compiled by Symmetry Mortgage Corporation for home sales in just two counties in Iowa and Illinois. It tells a completely different story. We truly appreciate the work done by Symmetry to empower FSBO's in our area. If you are a seller, do not let any agent tell you that you are doomed to fail. At QCFSBO we always recommend using an attorney to make sure legal requirements are upheld and your interests, whether your are a seller or buyer, are protected. That is all the representation you need. Beyond that you can “ go it alone” even when they are trying to scare people away from you.


Home Sale Statistics in Scott & Rock Island Counties

  • Home Sales Overview
  • Home Sale Trends in QCA
  • By County Statistics

T O T A L S

• Scott & Rock Island County

   • 8,010 total homes sold in 2006

   • 3,963 sold "By Owner"


50% of QCA Homes are sold "By Owner"
Click on the tabs above to see other statistics from calendar year 2005 & 2006
______________________________________________________________________________
Statistics courtesy of Symmetry Mortgage Corporation. Data was obtained from Scott & Rock Island County Recorder's offices and the Quad City REALTOR Association Multiple Listing Service. "By Owner" numbers include agent sales of homes offered for sale by owner and deed to deed transfers.

Scott County Home Sales

   • 2005      5,027
   • 2006      4,772

Rock Island County Home Sales

   • 2005      3,726
   • 2006      3,238

_______________________________________________________________________________________________
Statistics courtesy of Symmetry Mortgage Corporation. Data was obtained from Scott & Rock Island County Recorder's offices and the Quad City REALTOR Association Multiple Listing Service. "By Owner" numbers include agent sales of homes offered for sale by owner and deed to deed transfers.

By County Statistics

• Scott County Home Sales
   • 2006          4,772 Total
                        2,394 By Owner

• RI County Home Sales
   • 2006          3,238 Total
                        1,569 By Owner
FSBO vs Realtor

______________________________________________________________________________________________
Statistics courtesy of Symmetry Mortgage Corporation. Data was obtained from Scott & Rock Island County Recorder's offices and the Quad City REALTOR Association Multiple Listing Service. "By Owner" numbers include agent sales of homes offered for sale by owner and deed to deed transfers.



 

 

 

 

 









you can sell fsbo too!

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