Today I read an article about the former CEO of ForSalebyOwner.com listing his house with a traditional broker. Seems that after having his NYC apartment listed on the website for six months without a sale, he decided to hire a ‘real’ Broker. He raised the price per his Broker’s suggestion and immediately received multiple offers. He sold it for $150,000 over asking price at $2.15 million including a 6% commission.
Of course, this is an article very attractive to a real estate Broker, which validates what we do for our customers. Statistics show that over 80% of FSBO’s (for sale by owners) eventually have to list with a traditional real estate agent to sell their home.
When interviewing a potential customer who wants to try the FSBO route, I tell them to ‘go for it’ for a while and see how they do. I will provide a full market analysis to help them price it correctly. If they don’t sell it, I find they return to me as I was helpful when they wanted to try it themselves. Nothing tried, nothing gained!
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