Founder of For Sale By Owner Company Turns to Broker for Help

By
Real Estate Agent with The Legends of Real Estate, REALTORS®
http://actvra.in/g7s

Founder of For Sale By Owner Company Turns to Licensed Real Estate Broker for Help

by TIM on AUGUST 4, 2011


From the files of stranger than fiction, the founder and former CEO of ForSalebyOwner.com, Colby Sambrotto, was unable to sell his OWN HOME so he turned to a licensed real estate Broker to get the job done.

According to The Wall Street Journal, Mr. Sambrotto gave  up the FSBO route in favor of hiring a broker. This good decision resulted in attracting multiple offers for his 2000 square foot condominium in New York and a final sales price $150,000 more than the original asking price.  The WSJ said that the listing sold for $2,150,000 which included a 6 percent broker fee.

His own marketing efforts, which included his own online classified ads and FSBO sites, failed to get the job done. This is a trend that more and more sellers are discovering after many months (and sometimes years) of unfruitful FSBO attempts, hundreds of advertising dollars spent, unqualified buyers entertained and general inconvenience and frustration.

The facts speak for themselves. The market is just too uncertain and changing too fast for most DIY home sellers or even for most part-time real estate agents. It is imperative that homes are priced correctly from the very start and if a sale doesn’t come quickly, price adjustment may be required just to keep up and/or ahead of market trends.

If people really want to give the FSBO route a try, I say give it all you’ve got“ but when you decide you need help, for goodness sake, make sure you hire an experience, skilled, professional real estate consultant who will work with you in achieving your goals!

Experienced real estate consultants keep their finger on the pulse of the market daily and are in constant search of better, more effective marketing venues. It only makes sense to hire someone who knows what they’re doing when selling your most valuable asset.

Tagged with: fsbo • selling

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Re-Bloggged 39 times:

Re-Blogged By Re-Blogged At
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Topic:
Home Selling
Location:
Florida Duval County Jacksonville Mandarin
Groups:
Posts to Localism
Tags:
for sale by owner
fsbo
real estate
realtor

Comments 74 New Comment

Anonymous
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Rainmaker
607,579
Liz Wallace
Broker C21 Sherlock Homes, Rockville Centre, LI, N
Century 21 Sherlock Homes

You made my day and I am re-blogging this.  So many others on AR need to do the happy dance.

August 07, 2011 10:36 AM
Rainmaker
958,145
Endre Barath, Jr.
Realtor - Los Angeles Home Sales 310.486.1002
Berkshire Hathaway HomeServices

I saw this when Phil Farada posted it, I was in tears laughing. Talk about a bad market message for FISBO dot com:))) I was expecting all the late night shows jokers to be on it...since than I have seen it on Local News in Los Angeles....anyway I am traveling in Boston right now so I have not been watching the developments since the past few days:))) Great News for the Listing Agent that sold it:))) He will be a HERO!

August 07, 2011 01:03 PM
Rainmaker
137,026
Aida Pinto
Real Estate Broker (562) 916-3237
United Associated Brokers

I will file this under “Real estate irony” ..... Yes, most FSBO end up hiring a licensed broker.....wish I knew the statistics….anyone know?

August 09, 2011 02:18 AM
Rainmaker
527,310
Tim & Susan Fennell
Jacksonville Real Estate
The Legends of Real Estate, REALTORS®

Aida,

I don't know tha stats. The last time I heard it was about 80% but I don't tend to put much stock in those types of stats anyway. Each situation is unique and, of course, each market is different. We don't see very many FSBOs in our area right now due to the current market conditions. 

I have a past customer (investor) who did every deal FSBO between 2004 and 2008 because he had the time and knowledge (after dozens of transactions) but then turned to us again when conditions changed and he needed more than a sign in the yard and a few ads to get the job done.

August 09, 2011 07:11 AM
Rainer
332,837
Paul Gapski
619-504-8999,#1 Resource SD Relo
Berkshire Hathaway / Prudential Ca Realty

thank you very much for the informative and interesting post. I get so much out of the active rain network.

February 06, 2012 05:09 PM
Anonymous
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Rainmaker
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Tim & Susan Fennell

Jacksonville Real Estate
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