According to Multiple Listing Service (MLS) data, you can sell your Plymouth Massachusetts single family home faster, and closer to list price, on your own as a For Sale by Owner (FSBO) than with a Realtor.
Data taken from the MLS system that serves New England, called MLS Property Information Network, shows that over the past six months, homes that were sold via a Massachusetts MLS entry only listing service sold more quickly than those listed for sale via traditional real estate brokers, and also, achieved both a higher sale to original list price ratio and sales to list price ratio.
The majority of single family homes are still listed with a traditional real estate agent, which carries a full real estate agent commission, however, research data highlights that entry only MLS listings that FSBOs leverage are actually sold faster on average, and closer to the original listing price. Over the past 6 months, there have been 8 Plymouth single family homes sold with an entry only MLS listing, while there have been 247 Plymouth single family homes that sold via traditional listing brokers and agents.
For Sale by Owners Sell Plymouth Homes Faster than Realtors
Needless to say, sale price is of critical importance to a seller when selling a home, however, another metric that bears significant weight is how long a home takes to sell. How many days it takes a unit to sell is often referred to as Days on Market (DOM).
When selling a Plymouth single family home, the average DOM, or the length of time on average that it takes a traditional real estate broker or agent to sell a Plymouth home, is 123 days. Massachusetts MLS data shows us that it takes just over 4 months for a Realtor to sell a Plymouth home.
Alternatively, FSBOs who sell their own home and leverage an entry only listing (what is an MLS entry only listing?) are seeing DOM far lower than the 123 day average that it takes a traditional real estate broker to sell. FSBOs in Plymouth that use an entry only listing service to market and advertise their home for sale are seeing, on average, a DOM of 79.
FSBOs Sell Plymouth Homes Closer to List Price than Realtors
Further, data from the Plymouth MLS shows that the ratio between sale price and original asking price, and separately, sale price to listing price is higher when selling your own Plymouth home as a FSBO versus using a Realtor.
The original asking price of a property is the price at which a home is originally listed for sale while the listing price is the price at which a home is advertised for immediately before receiving an executing a Massachusetts Offer to Purchase contract. The closer you can get these ratios to 100%, the more accurate and representative your original asking price and listing price are of true market demand, and more than likely, the higher the better for a seller.
The average Plymouth sale price to original asking price ratio a traditional real estate broker has achieved on single family homes over the past six months is 90%, while at the same time, Plymouth FSBOs using entry only listings have achieved on average a 98% ratio.
While at the same time, the average Plymouth single family home sale price to listing price ratio for traditional real estate listing agents charging a full commission has been 95% over the past six months, whereas entry only MLS listings used by FSBOs have had a 99% ratio.
How to FSBO Plymouth Massachusetts 02360
For Sale by Owners, FSBOs in the 02360 zip code, have compelling data from the Massachusetts MLS that makes considering an MLS entry only listing integral to the “how to” FSBO Plymouth MA process.
Learn more about how to FSBO Massachusetts and save thousands of dollars in real estate agent commissions – learn how to FSBO Plymouth MA, with details on how an MLS entry only listing can drive the same level of exposure that a listing in the MLS from a traditional real estate agent would drive, at a fraction of the cost.