Founder of For Sale by Owner Company turns to Broker for help
ForSaleByOwner.com was talked about a lot when the market was booming. “Why not cut the listing agent out of the transaction. We can save a ton of money.” was the battle cry of sellers cashing in on the real estate boom. Tim and Susan Fennel, my Active Rain Associates, have tracked down an interesting story about what the founder of ForSaleByOwner.com had to do to actually sell his home in this tough and challenging real estate market.
Bottom line, you need an experienced real estate agent
1. to market your home
2. to assist you in contract negotiations (and short sale negotiations and foreclosure proceedings)
3. to actually get to the closing table after the contracts have been signed.
If you are looking for an experienced real estate agent in Atlanta Georgia to help you sell your home, give me a call at 770-939-3174.
Founder of For Sale By Owner Company Turns to Licensed Real Estate Broker for Help
by TIM on AUGUST 4, 2011
From the files of stranger than fiction, the founder and former CEO of ForSalebyOwner.com, Colby Sambrotto, was unable to sell his OWN HOME so he turned to a licensed real estate Broker to get the job done.
According to The Wall Street Journal, Mr. Sambrotto gave up the FSBO route in favor of hiring a broker. This good decision resulted in attracting multiple offers for his 2000 square foot condominium in New York and a final sales price $150,000 more than the original asking price. The WSJ said that the listing sold for $2,150,000 which included a 6 percent broker fee.
His own marketing efforts, which included his own online classified ads and FSBO sites, failed to get the job done. This is a trend that more and more sellers are discovering after many months (and sometimes years) of unfruitful FSBO attempts, hundreds of advertising dollars spent, unqualified buyers entertained and general inconvenience and frustration.
The facts speak for themselves. The market is just too uncertain and changing too fast for most DIY home sellers or even for most part-time real estate agents. It is imperative that homes are priced correctly from the very start and if a sale doesn’t come quickly, price adjustment may be required just to keep up and/or ahead of market trends.
If people really want to give the FSBO route a try, I say “give it all you’ve got“ but when you decide you need help, for goodness sake, make sure you hire an experience, skilled, professional real estate consultant who will work with you in achieving your goals!
Experienced real estate consultants keep their finger on the pulse of the market daily and are in constant search of better, more effective marketing venues. It only makes sense to hire someone who knows what they’re doing when selling your most valuable asset.
ABOUT THE AUTHOR
TIMOTHY H. FENNELL, PA
Tim Fennell is a Florida licensed Real Estate Broker with The Legends of Real Estate, REALTORS® in Jacksonville, Florida.
His strong background in business development, real estate investments, counseling and marketing greatly enhance his skills as a Listing and Internet Marketing Specialist.
Tim and his wife, Susan, have over 30 years experience in Jacksonville Real Estate sales, marketing and investing. Both are Accredited Consultants in Real Estate (ACRE®). When you’re ready to be consulted with, rather than sold to, give Tim and Susan Fennell a call.