Archive for the 'fsbo homes in ma' category
ForSaleByOwner.com Founder Sells His Home - With A Real Estate Agent
In a story that sounds like I made it up - the founder of the For Sale By Owner (FSBO) site ForSaleByOwner.com has sold his own home - with the help of a traditional real estate agent.
The story can be found HERE.
From the story:
Founder and former CEO of ForSalebyOwner.com, Colby Sambrotto listed his 2,000 square foot New York condominium on his own through online classified ads and FSBO sites, but after six months, he opted to hire New York broker Jesse Buckler who immediately advised a price change as the listing was not attracting the right buyer.
After giving up on the DIY route, Sambrotto’s decision to hire a broker led to attracting multiple offers, closing for $150,000 over the original asking price. The Wall Street Journal reports the listing sold for $2.15 million including a 6% commission.
As a full-time experienced REALTOR, I can tell you that I am not in the least bit surprised. Studies consistently show that agent-listed homes sell for anywhere from 12%-17% higher than comparable FSBO homes in the same market, much more than the average 5% that a seller is trying to save by going the FSBO route.
In fact, this one bedroom condo at Melrose Towers I sold recently was a FSBO for over six months. I spoke to the owner several times and he finally agreed to list it with me. The night we signed the paperwork he told me the absolute bottom line he needed to get after all other expenses. I listed it for the exact price he was advertising it at, and we got an offer 4 days after I listed it, for $500 over the asking price. It closed about six weeks later. When all was said and done, the seller walked away from the closing table with $6,000 more than the bottom line number he had given me, even after paying a 5% commission.
I'm pretty sure he does not regret his decision.
If you're thinking of selling your home in MA, contact me for a free no obligation Market Analysis. Go ahead and save yourself months of aggravation, and net more in your pocket at the closing.
