Founder and former CEO of ForSalebyOwner.com, Colby Sambrotto listed his 2,000 square foot New York condominium on his own through online classified ads and FSBO sites, but after six months, he opted to hire New York broker Jesse Buckler who immediately advised a price change as the listing was not attracting the right buyer.
After giving up on the DIY route, Sambrotto’s decision to hire a broker led to attracting multiple offers, closing for $150,000 over the original asking price. The Wall Street Journal reports the listing sold for $2.15 million including a 6% commission.
Many FSBOs turn to RealtorsThe news stands as an enormous validation of the real estate profession and while some may tease, it is no laughing matter and the former FSBO CEO made a good financial decision.
AGBeat columnist Herman Chan said, “If people want to take a stab at For Sale By Owner (ie FSBO), go for it. But well over 80% of FSBO’s eventually have to list with an real estate agent to get their house sold. It’s harder than it looks!”
Read the full article here: ForSalebyOwner.com founder gives up on own listing, hires real estate broker
Here at Platinum International Real Estate in Belize we are experiencing a similar situation. Many For Sale By Owners have been turning to us to sell their homes after having in on the market in some cases up to two years.
If this professional who claimed he could help For Sale By Owners chose to sell his Real Estate Listing with a Real Estate Professional what do you think he is thinking of the For Sale By Owner Real Estate Market?