For Sale By Owner listings have plunged to
historic lows across North America, in spite of all projections to the
contrary. And in another blow to the FSBO market, the co-founder of
ForSaleByOwner.com turned to a real estate broker recently to sell his
Manhattan apartment.
Colby Sambrotto marketed his apartment
himself for six months through online ads. When it didn’t sell, he hired broker
BOND New York.
“I was floored,” says Bond New York
co-owner Bruno Ricciotti. After all, Ricciotti considers Sambrotto’s former
company a big player in the FSBO Market.
Listing agent Jesse Buckler raised the price
and lured multiple offers, ultimately selling for over asking at a whopping
$2.15 million.
Undaunted, Sambrotto plans to launch a new
FSBO website that will let sellers offer commissions to brokers who bring
buyers in.
Mike Says: ….Seems to me that there is
certainly money to be made selling ads to private sellers, even if it doesn’t
get the desired results. The newspapers have been doing it for decades . . …
mshawliferich 