{ August 10th, 2011 }
ForSaleByOwner.com Founder Hires Realtor
Straight from the “do as I say, not as I do” files, the founder of ForSaleByOwner.com- “the nation’s leading ‘by owner’ real estate website”- hired a Realtor to sell his home. According to a recent piece in The Wall Street Journal, Colby Sambrotto actually listed the property himself for six months before he sought the services of an agent. Long story short, the Broker was able to procure a buyer… at $150,000 more than the original asking price.
I’m in no way suggesting that the “By Owner” method can’t work. Mr. Sambrotto sold his two-bedroom condo for $2.15 million… so it obviously worked pretty well for him (as a business owner, not as a seller). I’m also not suggesting that it’s standard practice for a Realtor to sell a home at 7% above asking price. That only happens in Manhattan, and even there it’s not exactly a regular occurance. I just couldn’t resist sharing something that smelled so deliciously ironic…
