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.