Before meeting our real estate sellers, some think about selling their home through For Sale By Owner. Recently, the Wall Street Journal reported that founder and former CEO of ForSaleByOwner.com, Colby Sambrotto, had to use the services of a local real estate professional in order to sell his New York apartment, because he could not sell it on his own as a For Sale By Owner (FSBO). Sambrotto, who is considered the founder of the concept of selling your home without the assistance of a real estate agent, has failed! After much reluctance to work with a Realtor on his own personal residence, Sambrotto paid a full 6% commission in order to get his home sold. In today’s market, Mr. Sambrotto, like many By Owner sellers, learned the hard way that selling your home without a professional is not the best way to move your home for top dollar in the fastest amount of time.
Let’s now look at a couple myths that Mr. Sambrotto, like many do it yourself home sellers, experienced:
Myth #1 – You Will Net More Money By Selling On Your Own
Most FSBO sites claim that you can save money on the commission by selling on your own. But, what happened to Mr. Sambrotto be shocking:
From the WSJ article:
“The broker, Jesse Buckler, said he told Mr. Sambrotto the apartment in the Lion’s Head building on West 19th Street near Sixth Avenue was priced too low and wasn’t drawing the right buyers.
By May, it went into contract, he said, after attracting multiple offers. It closed in the last few days for $150,000 more than the original asking price.”
Myth #2 – You Can Sell Your Home Alone Using Just The Internet
With the plethora of real estate websites on the Internet, hiring a real estate professional is not a necessity. Read below, to see what happened to Mr. Sambrotto, Mr. FSBO guru, after only depending on the Internet to sell his home:
From the WSJ article:
“Looking to move his family to the suburbs, [Mr. Sambrotto] said he carefully staged his apartment for sale himself, and put it on the market. But after using a mix of websites to publicize his apartment, he said he had only ‘middling success’ and switched to a broker because many buyers were so reliant on brokers.”
The Real Estate Profession has been around for centuries for just this reason! If you are truly looking for the best service and to net the most money, then please interview top Parkland or South Florida Realtors. Your home is one of your largest financial assets. As a result, consult with a true professional, like us, that will guide you throughout the entire selling process, ESPECIALLY in today’s real estate market.
Know the neighborhood. Know the value. Know your hometown agents: The Parkland Parrot Real Estate Team. If you are interested in buying or selling in Parkland or South Florida and are looking for experienced local Realtors, please do not hesitate to contact the Squawk at 954-609-0591 or send us a message here.
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