What added value do estate agents offer compared to FSBO transactions? Explanation from a perceived advantages model

This paper aims to explain the determinants of using an estate agent vs. conducting a private sale on the French housing market. A survey that collected 3992 responses relating to completed transactions showed that the decision of whether or not to use an estate agent is not explained by the physical or spatial features of the property or socio-demographic variables, but rather by buyers' and sellers' perceptions, i.e. perceived advantages of brokerage services in terms of expected relevant outcome, efficient process, psychological security and social facilitation. These results may help brokers to differentiate from FSBO in a context of freely-available information.