Real Estate Agents are in demand as For Sale By Owner's Decline

According to the latest 2010 statistics from the National Association of Realtors® Profile of Home Buyers and Sellers, For Sale By Owner listings now make up only 11% of the market.  This is down significantly from the days of the hot and heavy market of several years ago.

This trend was inevitable when you consider the complexity of the listing side of a transaction nowadays.  Sellers with equity to spare in their homes today are an endangered species.  With so many homeowners being underwater (owing more than what their houses are worth) on their mortgages, it takes an experienced agent to help them navigate through the potential options of short sales and the like.

With the market here in Central Florida being so heavily dominated by short sale and bank owned properties, sellers often need the expertise of an agent just to keep them abreast of the current market value of their homes since prices in any given area can change rapidly.  What sold even six months ago is barely relevant in this dynamic market with the constant downward pressure on prices caused by distressed properties selling below market value.

Sellers often make a mistake by overpricing homes and selling on their own in hopes of possibly saving on not paying an agent's fee.  The longer a property goes unsold while prices potentially drop, the more money the seller stands to lose on the deal by holding out for an unrealistic price. 

Now more than ever, agents can play a pivotal role in guiding sellers through all their best options and assisting them in pricing their home to be competitive and attractive to a buyer population that is consistently looking for a good deal in what they know is a buyer's market.