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REAL ESTATE: FSBO and Discount-Broker Sales at Record Lows

You might think that the Internet and today’s seller’s market is coaxing an unusually large share of homeowners into selling without an agent.

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Janet Nettles – Middle Tennessee Properties

And for the home sellers who list with agents, you might guess that they’re favoring the limited-service variety – commonly referred to as “discount agents” – more than ever. But you’d be dead wrong on both counts, according to figures released by the National Association of Realtors (NAR).

The share of recent home sellers who sold with an agent remained at a record high of 89 percent in the last year, and a record-high share of those professionals provided a broad range of services, rather than a more limited set, NAR reported in the 2016 edition of its annual

“Profile of Home Buyers and Sellers.” As agent popularity soared, for-sale-by owner (FSBO) sales scraped along at the all-time low of 8 percent of all sales. That’s the same level NAR reported in 2015, down from 12 percent in 2006 and 15 percent in 1981, the year NAR began tracking FSBO market share. Anemic housing inventory and the spread of technology also apparently haven’t given a boost to agents who put more of the work in a seller’s hands, typically in exchange for a below-market fee.

A record 83 percent of recent home-sellers worked with an agent who provided a “broad range of services and management of most aspects of a home sale.” That’s up from 79 percent in NAR’s 2015 report and tied with the all-time high reported by NAR in 2006, the first year it began tracking market share of broker service types Buyer’s agents are flourishing in the digital age as well.

Nearly 88 percent of recent homebuyers purchased a home through an agent, up from 87 percent in 2015. Copyrighted @ Inman News, 2016 Real Estate in Manchester and across the state as well as the nation is strong.

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