The following report recently came to my attention. It seems the CEO, Colby Sambrotto, of For Sale By Owner (www.forsalebyowner.com) wanted to sell his two bedroom condo in New York. So, as we would expect, he tried to sell it himself. After 6 months of listing and advertising it for $2 million, however, he was getting nowhere fast. So, what did he do? He decided to try a real estate agent! (Gasp!) Yes, you read that correctly. The CEO of For Sale by Owner enlisted a real estate broker–Jesse Buckler–who immediately informed him that he didn’t have it properly priced. Mr. Sambrotto had it priced too low. The broker listed it at $2,150,000, and promptly secured a contract, much to Mr. FSBO’s chagrin. And, on top of that, he made more than enough to cover the typical 6% commission. I’m just saying . . .
- Barbanel, Joseh (2011, August 3). “DIY Guru Gets Broker Help.” The Wall Street Journal. http://www.wsj.com/articles/SB10001424053111903341404576484352486553740
- Gardner, David (2011, August 5). “‘For Sale By Owner’ founder sells his home… using a real estate broker.” Daily Mail. http://www.dailymail.co.uk/news/article-2022112/For-Sale-By-Owner-founder-sells-home–using-real-estate-broker.html