Listing with real estate broker results in higher price, greater net to seller!
The Founder and former CEO of ForSalebyOwner.com may be rethinking the value of listing a property with a REALTOR. Colby Sambrotto listed his New York condominium on his own and promoted it on FSBO websites and in online classified ads. All to no avail.
After six months, he gave up as a FSBO and listed his 2000 square foot unit with New York broker Jesse Buckler. His new listing agent recommended retargeting the property to different buyer groups and suggested a new list price.
The Wall Street Journal reports that the listing sold for $2.15 million with a 6% professional fee to the broker. Since the condo sold for $150,000 more that the original asking price, Sambrotto netted an extra $21,000 after the professional fee was paid.
Bottom line -- it paid the FSBO website founder to use a pro!
This blog post is a perfect illustration that sellers need to understand that the professional fee paid is less important than the VALUE delivered. In this case, the real estate professional's knowledge and expertise resulted in a price which not only covered the fee, it netted the seller more money!
Posted by: Laurie Moore-Moore | October 06, 2011 at 12:40 PM
This is a great article to print and share with your clients especially buyers, it gets the conversation started and it is jaw dropping. Suddenly 200 dollars per square in Albuquerque sound like a good deal. ha ha
Veronica Gonzales
http://www.abqdreamhomes.com/
Posted by: Veronica Gonzales | November 01, 2011 at 11:06 PM