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You all made me curious, so I did a search of only FSBOs on Zillow.
Observations:
They did not look overpriced. Most were below or close to Zestimate, or else had a clear reason to be above like recent major renovations.
The number of FSBOs listed in Zillow was tiny, or at least the number of listings that Zillow gave that label to. Like 1:300 ratio to normal listings.
About 1/3 of the FSBOs are listings by investors, RE agents, or other people in the industry.