That Dog Won't Hunt? The Sale Price and Time-On-The-Market of For-Sale-By-Owner Properties Open Access
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The purpose of this paper is to examine the directional impact of the transaction mechanism (FSBO or broker) on the sale price and time-on-the-market of single family home in Arlington County, Virginia. Research results should determine whether the 5%-6% commissions charged by real estate agents translate into commensurately higher sale prices when compared to similar, FSBO-transacted properties in Arlington County, Virginia. Results will also attempt to determine whether, and to what extent, FSBO sales extend time-on-the-market as an ancillary consequence. The research has meaningful implications to the return-maximizing choice of sales platform on the part of property owners, particularly at a time when substantial home price depreciation is already narrowing potential sales price proceeds in the Washington, D.C. metropolitan area.
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