MASSACHUSETTS HOMES SOLD BY AGENTS SELL FOR NEARLY 25% MORE THAN FSBO’S
New study finds that homes sold with the assistance of a Realtor typically have higher median selling prices than homes sold by a property owner
A new study of home buyers and home sellers across the United States shows that For Sale By Owner (FSBO) activity fell to a 25 year low in 2006 and that homes sold with the assistance of a Realtor typically had a median selling price that was 31.9% higher than homes sold by the property owner. Following the national trend, homeowners in Massachusetts, who used a real estate agent or broker to sell their home were able to attain a median selling price that was 23.4% higher than homes sold by the property owner without the assistance of a real estate professional.
These findings, taken from the 2006 Profile of Home Buyers & Sellers Report for Massachusetts, offer compelling data on the value that Realtors provide to consumers during a property transaction. The study also found that among Bay State homeowners who hired a real estate professional to help sell their home, 93% used a full service broker, and 7% used a limited service agency (such as ListMyHouse.com), in which the agent lists the home on the Multiple Listing System, but performs few, if any, additional services. The services that most Massachusetts home sellers said they want from their agent is to price their home competitively (20%) and to sell it within a specified timeframe (33%). Among home buyers, nearly 90% of those looking to purchase a home in Massachusetts during the past year enlisted the services of a Realtor to assist them with their home search.
Finally, despite its reputation as a state with high housing costs and taxes, the study found that Massachusetts has attracted a higher rate of first time home buyers into the market during the past year than the U.S. as a whole, with 45% of all buyers in Massachusetts being first time home purchasers compared to just 36% of all U.S. homebuyers.
Elyse Marsh
Office: 781-237-5000
Cell: 617-816-9797
email: emarsh@prphomes.com
| Contributed by Elyse Marsh emarsh@pinnaclehouses.com Cell Phone: (617) 803-3571 | Office Phone: 781-237-5000 http://www.elysemarsh.com |
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