T
he number of homeowners selling their homes without the assistance of a real estate agent has hit a record low. According to the National Association of REALTORS' 2024 Profile of Home Buyers and Sellers, for sale by owner transactions (FSBOs) made up just 7% of home sales last year, down from 21% in 1985. This decline is largely due to technological advancements that have simplified the real estate transaction process.

    Despite the benefits of selling a home quickly and with high equity gains, many homeowners still choose to work with an agent. In fact, 90% of home sellers used an agent last year, up from 89% in the previous year. Agents can help determine the best-selling price and marketing strategy, increasing the chances of finding a qualified buyer.

    FSBOs who sold their homes over the past year generally received lower prices than those represented by agents. The median sale price for FSBOs was $380,000, compared to $435,000 for agent-assisted sales. Many FSBOs reported struggling with the sales process, citing challenges such as getting the home price right and navigating paperwork.

    The top reasons homeowners choose to work with an agent are to market their home to a wider pool of buyers and price it competitively. Eighty-five percent of sellers said their agent provided a broad range of services and managed most aspects of their sale. In fact, 87% of sellers would likely recommend their agent for future services.

    Homeowners who sell on their own often find the process stressful and overwhelming. A separate study by Clever Real Estate found that over half of FSBOs reported feeling stressed during the sales process, with many citing distrust from potential buyers as a major challenge.