For Sale By Owner Guru Uses Agent To Sell His Property!
For years, I've been saying that home sellers were shorting their profit potential by selling their property without the aid of a real estate agent. Real estate agents generally get a 9% higher price for property than do the owners.
Despite this, many people insist on trying to sell on their own. In fact, in recent years there has even been a a website developed which acts like a national Multiple Listing Service specifically for owners to promote their property.
This website, called ForSalebyOwner.com, was founded by Colby Sambrotto. Recently, the Wall Street Journal reported that Sambrotto wanted to sell his 2,000 square foot, 2-bedroom apartment in New York City. Being a For Sale By Owner (FSBO) guru, he tried to do this without the help of a real estate agent.
Apparently the apartment lingered on the market for about six months. After that, Sambrotto called in the help of real estate agent Jesse Buckler. Buckler told Sambrotto that his apartment was priced too low and was not attracting the right kind of buyers. He advised that the price be raised by $150,000.
At first, Sambrotto did not accept the advice of Buckler, but finally allowed the price to be increased. In a short time, the apartment attracted multiple offers and ended up closing for $150,000 over the original asking price.
Hey, stop laughing! This is a true story! Check the Wall Street Journal for August 3, 2011.
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Despite this, many people insist on trying to sell on their own. In fact, in recent years there has even been a a website developed which acts like a national Multiple Listing Service specifically for owners to promote their property.
This website, called ForSalebyOwner.com, was founded by Colby Sambrotto. Recently, the Wall Street Journal reported that Sambrotto wanted to sell his 2,000 square foot, 2-bedroom apartment in New York City. Being a For Sale By Owner (FSBO) guru, he tried to do this without the help of a real estate agent.
Apparently the apartment lingered on the market for about six months. After that, Sambrotto called in the help of real estate agent Jesse Buckler. Buckler told Sambrotto that his apartment was priced too low and was not attracting the right kind of buyers. He advised that the price be raised by $150,000.
At first, Sambrotto did not accept the advice of Buckler, but finally allowed the price to be increased. In a short time, the apartment attracted multiple offers and ended up closing for $150,000 over the original asking price.
Hey, stop laughing! This is a true story! Check the Wall Street Journal for August 3, 2011.
-30-
posted by Terry Ward at 7:33 AM
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