ForSalebyOwner.com founder fails to sell own home
The Founder and former CEO of ForSalebyOwner.com may be rethinking the value of listing a property with a REALTOR. Colby Sambrotto listed his New York condominium on his own and promoted it on FSBO websites and in online classified ads. All to no avail.
After six months, he gave up as a FSBO and listed his 2000 square foot unit with New York broker Jesse Buckler. His new listing agent recommended retargeting the property to different buyer groups and suggested a new list price.
The Wall Street Journal reports that the listing sold for $2.15 million with a 6% professional fee to the broker. Since the condo sold for $150,000 more that the original asking price, Sambrotto netted an extra $21,000 after the professional fee was paid.
Bottom line — it paid the FSBO website founder to use a pro!
ForSalebyOwner.com fails to sell own home [Luxury Insights]
Just another example of the need for professional advice in such a complicated transaction. Why would anyone want to go through that alone?
Rich Cederberg at December 21st, 2011 at 12:20 am ( )