A “study” came out yesterday which says that using a real estate agent is a waste of money.
Well, basically that’s what it says.
The conclusion, in a study to be released today based on home-sales data from 1998 to 2004 in Madison, Wis., is that people in that city who sold their homes through real estate agents typically did not get a higher sale price than people who sold their homes themselves. When the agentâ€™s commission is factored in, the for-sale-by-owner people came out ahead financially.
The study did find that using an agent reduced the average number of days needed to sell a home.
What do I think?
I can save $20 by changing the oil in my car, myself.
However, if you think I’m going to put my car up on the blocks and crawl under it, you’re mistaken.
I don’t even put my own window-washer fluid in!
Complete story: One Cityâ€™s Home Sellers Do Better on Their Own – By Jeff Bailey, The New York Times