New York – Mar. 11, 2008 — With price declines hurting home sellers and real estate commissions taking another 5-6% of a home’s value, homeowners should consider ForSaleByOwner.com to sell their homes and save a substantial amount of money on commissions. There were nearly 700,000 successful “for sale by owner” transactions in the United States during 2007, resulting in a combined savings of approximately $9 billion.
People like Eric and Gina Maas of Yutan, Nebraska, used ForSaleByOwner.com, the largest web site for the “for sale by owner” real estate consumer, to sell their home without an agent. The couple put their home on the market and sold it for $489,000 within three months, saving nearly $30,000 in commission costs.
“ForSaleByOwner.com is very easy to use and its national marketing exposure helped us find a buyer who was moving to Nebraska from Washington,” said Gina Maas. “We would never use a real estate agent again. Not just because of the savings, but also because we were in control of the process. No one is more motivated to sell a home than the home’s owner.”
According to ForSaleByOwner.com, real estate commissions have increased 43 percent since 2000 and the average U.S. home seller paid nearly $14,000 in commissions last year. Real estate agents and brokers collected an estimated $55 billion in commissions during 2007, one of the highest years on record.
ForSaleByOwner.com is the nation’s leading for sale by owner website. Since 1999, ForSaleByOwner.com has saved home sellers more than one billion dollars by providing premium Internet marketing services, real estate guidance and information, as well as live customer support, to help customers independently sell their own homes. The company offers a wide range of listing packages at varying prices that provide advertising, information, tools and resources to empower people to sell their homes themselves. In contrast, a person selling a $300,000 home through a real estate agent would be charged a 6% commission fee and pay approximately $18,000. Prospective homebuyers can browse property database, available at http://www.forsalebyowner.com, at no charge.