FSBO Guru Needs Broker to Sell His Apartment

The founder of a Website "For Sale By Owner" hired a broker for 6% to sell his Chelsea Apartment. The "Do it Yourself" Guru couldn't do it himself. Preaching is always easier than practicing.

The Wall Street Journal  reported Colby Sambrotto,  a founder of the website ForSaleByOwner.com, a website that charges people fees to sell their own homes couldn't sell his own. Colby Sambrotto had an apartment of his own—a two bedroom in Chelsea—to sell. He couldn't sell it by himself.

He spent six months trying to sell his condominium himself through online listings and classified ads.
He finally turned  over the listing of the 2,000-square-foot apartment to a broker at Bond New York in November.

The broker, Jesse Buckler, sold Mr. Sambrotto's apartment in the Lion's Head condominium  for $2.15 million and charged him 6% commission.

He didn't want the broker to increase the price either. The broker told him "I know what I'm doing-the market is picking up."

Not only could For Sale By Owner guru not sell his own apartment, but a broker was able to sell it for more money.

Moral of the story: You get what you pay for. It's not as easy at it looks to sell an apartment. Don't waste your money on ForSaleByOwner.com hire a professional.