The beauty of the internet is its ability to spread information quickly and democratically. This also applies to the tired real estate market, where an increase in FSBO sales has saved it from complete stagnancy. Potential sellers are more likely to try selling without the burden of an agent’s commission, and sellers are more likely to browse from home than they are to proactively search in the real world. In short, FSBO and the internet help turn half-hearted buyers and sellers into confident and accomplished ones.
While there is yet to be a study done on how FSBOs have kept real estate from going into a complete sinkhole, it is clear that the proportion of FSBO transactions estimated in this article suggests that FSBOs like BuyOwner.com are going to be around well after the market adjusts itself, proving that accessible, visual data and the elimination of the middle men won’t only take a chunk of the market, but the whole pie of real estate transactions. Accessibility means increased activity in a tired market.
On a brighter note, Citigroup Investment Research has surged upon the market, investing in real estate to take advantage of the “sector weakness:”
“While we don’t expect any of the homebuilders to move much lower over the near term, we expect…those with the strongest balance sheets to benefit most from any bounce – much as they did coming out of the 1990 trough,” Stephen Kim notes in www.financialtimes.com.
Now that the most formidable buyers are reentering the market, a turn toward growth is in the short-term future. And FSBOs will lead the way for homeowners on every level of the market.