Home Sellers Make More Money when Agent is NOT Involved
Asheville, NC – August 22, 2008- A study, conducted by the well respected Consumer Reports publication, found that home sellers who used a real estate agent made less money than sellers who sold by owner. The report also found that nearly all of the people who sold ‘by owner’ received near their original asking price
“This is great news for people who need to sell their home”, said Tommi Crow, President of Crow Erickson, Inc and InfoTube.net. “Consumer Reports published a well researched and unbiased article that clearly finds home sellers are financially better off selling their home without an agent.” Real estate commissions take a huge bite out of the money sellers receive at closing. For example, a typical real estate commission would erase about $18,000 of equity on a $300,000 home.
The September 2008 Consumer Report findings are similar to the results from studies conducted by Stanford and Northwestern Universities. All three studies concluded that “for sale by owner” (fsbo) sellers made more money than sellers who used an agent.
“The release of this study is very timely news for some, and life changing news for others,” said Crow. Zillow.com recently reported that nearly 30 percent of the people who purchased a home in the last 60 months, now owe more money on their home than it is valued at. Furthermore, Zillow found that 45-60 percent of buyers, who purchased in 2006, are upside down.”
“For fortunate homeowners that have a lot of equity, the possibility of keeping more money from their home sale is great news. For the unfortunate, who have little or no equity in their homes, the report offers real hope in knowing they can clearly sell their property for a realistic asking price, without paying commissions they can not afford,” added Crow, also a real estate broker for over 20 years.
About Crow Erickson, Inc
Crow Erickson, Inc. is a privately held corporation founded in 1988. The company manufactures outdoor marketing products used in the real estate industry and for a variety of purposes. Its brand name products are Made In the USA and can be purchased at The Home Depot, Lowes Hardware, ’neighborhood’ hardware franchises, sign companies, for sale by owner companies, Boards of Realtors and other business locations from coast-to-coast.
The company website, http://www.InfoTube.net, offers free real estate marketing services, online shopping and a retail store locator. Its services include free internet classified listings, free color brochures and flyers, free legal forms and contracts, home tour video’s, opt in email services for home buyers and sellers, a community forum, blog, 5. MLS listing services, marketing tools and replacement parts for its products.
®InfoTube is a registered trademark of Crow-Erickson, Inc.