If you don't get nervous, consider a discount real estate agent (Opens in a new window) that will do less handholding.
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Especially if you're full of house-sale anxiety. So expect to still pay 6% even if you do gamble on a FSBO.Ī good real estate agent on your side is well worth the money. 70% eventually get an agent, and realtors know this. Zillow prefers to send people to agent-represented homes, not FSBO sellers-because the agents pay for those leads. If you don't offer that, they have zero incentive to show your home to their client. Also, most people who want to see your house for sale still have an agent or broker that wants to get paid their half of the typical commission. For example, FSBOs may not get listed in the default view map on Zillow of nearby properties until the searcher clicks the "Other listings" link on the page. However, you're at a disadvantage from the get-go against all the other houses for sale, which are pulled from the MLS. Having sold many houses, I can tell you having an agent or broker is worth it, but Zillow makes the FSBO option to save money look tempting. That math is simplistic to the extreme no closing is that clear-cut. That means if you sell a house for $100,000, you only get $94,000 the other $6,000 goes to the realtor or their office at closing and is typically split with the buyer's broker. Here's what you need to know, whether you're a buyer, a seller, or even a flipper.įSBO stands for "for sale by owner," which translates to "I'm not using a real estate agent." That can save money-the average a seller gives up is about 6% of the sale price. You're more likely than ever to turn to Zillow and check out some Zestimates. That means there's a low supply of available houses (Opens in a new window), so prices continue to rise (Opens in a new window) (and it's why we just launched our second annual Best Work-From-Home Cities guide). The Great Resignation (Opens in a new window) has more people quitting jobs/retiring early and moving than could have been predicted pre-COVID-19. Zillow's other favorite stat: 67% of homebuyers use Zillow at some point. Probably because the number of US homes changing hands is crazy high: 6.1 million in 2021 alone, according to stats from Zillow itself. As of October 2021, Zillow was seeing 36 million monthly visits according to Statista (Opens in a new window), well ahead of Trulia (23 million) and Yahoo Homes (20 million). Obviously, real estate isn't always a bulletproof market.īut the above snafu didn't have much impact on Zillow's standing among real estate listing sites. The company's Zillow Offers group is actively unloading 7,000 houses and laid off a quarter of its workforce in late 2021, all after losing billions of dollars. The company tried its hand at becoming an " instant buyer (Opens in a new window)" (aka iBuyer)-that is, it became a full-on house-flipping operation (buy cheap, fix up, sell high). These days if you see an ad for a house or apartment in a print publication, it likely came from Zillow. Founded in 2004 by former execs from the travel sites and Microsoft's spin-off Expedia, Zillow calls itself a media company first and foremost-it simply happens to traffic in media (ads) about places to live. In the last 20 years, thanks of course to the mainstream internet, there's no lack of websites with house listings galore to whet your appetite for " real estate porn."Ĭhances are the first one you'll hit is Zillow. Not that long ago, buying a home meant you scoured print advertisements and called up a realtor with access to Multiple Listing Service ( MLS (Opens in a new window)) networks-there are 900+ of them in the US, only for agents and brokers.
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