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(English) FSBO a No Go!

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56 comentarios
  1. Derek Eisenberg
    Derek Eisenberg Dice:

    There is no question that most buyers look to an agent and that agent driven listings offer access to more portals of exposure than FSBO listings. For example while FSBO sites can get you access to Realtor.com they cannot get you access to local IDX feeds or in areas like Manhattan where IDX is not prevalent, broker driven portals like http://www.ny1residential.com.

    However this does not prove a seller needs anything from an agent other than exposure. It in no way says that Mr. Sambrotto could not have negotiated or shown the unit on his own. Consequently, the best avenue for do-it-yourselfers is a flat fee mls model like http://www.mls2u.com. With this type of service, a fsbo seller can get his/her property in the MLS or in Manhattan RLS and/or OLR and save half the commission while still retaining control of the transaction.

    Also, I would not be surprised if Mr. Sambrotto’s real estate broker violated NY Dept of State Agency rules on broker confidentiality by commenting on Mr. Sombrotto’s deal. There may also be Graham Leach Bliley issues as well.

    Responder
    • Steve Harney
      Steve Harney Dice:

      Hi Derek,
      Great points!! However, the broker also got the seller an additional $150,000 ($30,000 net after commission). So obviously the agent did more than help with exposure. He also helped with pricing.
      Regarding the question of agency, the article clearly states that «Mr. Sambrotto confirmed the details of the transaction..». Regarding Graham Leach Bailey, I believe this statement is a reach at best as I do not believe the broker qualifies as a «financial institution» under the guidelines of the rule.

      Responder
    • Velvet
      Velvet Dice:

      When I see, and hear people who were once respected bastions of our Coistutnonal form of government now PUBLICALLY state their TOTAL SUPPORT for the CRIMINAL SLIME that now occupies OUR WH I have a compulsion to PUKE. I have a sick feeling,and I am afraid that the CAUSE of my sick feeling is about to be vomited up,and I didn’t even support,or vote for them. But I did vote for the opposing scum. Hopefully once they have been ejected,I will do a better job of selecting the people who I support.

      Responder
  2. Ellen Boyle
    Ellen Boyle Dice:

    The law allows a For Sale By Owner to act as a REALTOR. The same law allows anyone to act as a dentist if they need to pull out their own tooth. Remember Tom Hanks in the movie «Castaway» when he needed to remove a bad tooth. OOCH! Selling a home is a job for a professional as well we all know. The stats from the Profile of Home Buyers & Sellers proves that those who use a REALTOR to market their home, net more than FSBOs. We need to get this word out to the public. Now more than ever with home prices dropping, it’s out responsibility to help keep the markets up.

    Responder
  3. sam
    sam Dice:

    I do believe Realtors provide a valuable service, but 6%+ commission? That is pretty ridiculous. Only in recent times have we introduced a buyers AND sellers agent. While I can see merit for a sellers agent (but not at 3%+), a buyers agent should be viewed simply as concierge service. If you know the area and are comfortable buying a home there is really no need.

    Responder
  4. Carol Clapp
    Carol Clapp Dice:

    In economic hard times many may look for the “good deal” or the best way to “save money” The important thing to keep in mind, is… did we really get a good deal or did we really save money? Is there a reason for the saying “you get what you pay for?”

    Real Estate is not simple; there are a lot of laws governing real estate. Realtors have to earn a license and keep up with continuing education and spend a lot of time in the community.

    How many «Non Realtors» know what to do to make sure properties are in good condition, are free and clear of debt, know what fees to expect when buying or selling just for starters… Sure most people can find out. A home is typically the largest personal purchase or sale an individual makes. Without the proper research/training knowing what the right price is can be difficult; without the proper research/training red flags may be difficult to spot. It’s not like most people buy or sell homes everyday or even once a month, typically it’s a couple of times in a lifetime. Are you getting what you pay for?

    Responder
  5. Aaron J Rosen
    Aaron J Rosen Dice:

    I know I shouldn’t find humor in the misfortune of others… but this is hysterical, shocking, and yet at the same time doesn’t surprise me at all! During such a difficult time of trying to sell a home, why would you try and attempt to sell your own home on your own? That would be the same as going to war without any military training. Obviously the point was proven, if you hire a broker (expert, professional, specialist), you’ll save yourself time, money and a headache!

    Responder
  6. Tim Woodcock
    Tim Woodcock Dice:

    That is the first time I have ever heard of a FSBO not selling because the price was too low !! They are usually priced overpriced by a greedy seller trying to pocket the money they would have paid to a professional realtor ! In this case it sounds like the condo was grossly underpriced thus having a negative effect on the attraction of a buyer. And this guy was a FSBO guru ? Hmmmm…..

    Responder
  7. Mike
    Mike Dice:

    Please. The FSBO guy is prol rolling in cold hard cash, what does he care? Obvioulsy this is embarassing, but still. Realtors love to see this article. They can stop 2nd guessing thier services for a month or two. 9 out of 10 people I talk to said thier Realtor put a sign in the yard, put them in MLS and went to the beach. Listing agents do nothing. Stop lying to yourselves. You get the homeowner to price it right or lower than others and buyers agents will sell it. Your talking NYC market here….whatever, its a whole different animal. In Anytown USA, listing agents are a scam and alwayas have been. MLS and price sell homes, society has been brainwashed that listing agents are «experts». Society has been insulted and brainwashed to think its rocket science to sell a home. Any average american can do comps on Zillow and Trulia these days. If your home is worth $100K and you list it for $80k its gonna sell if your undercutting the competition, doesnt take an Realtor to do that.

    Being a listing agent is a long term marketing scheme. 1. List a home….MLS, Realtor.com and 3 fuzzy horrible pictures. 2. Go to the beach. 3. Buyers agents show and sell. 4. You put a SOLD sign up. 5. Send out mailers to the entire community that says «I just sold 123 Street, Im a home selling guru, list with me!» 90% of the public buys that and says «Wow, this some Realtor»

    There is no argument to this. Just admit it and move on.

    Responder
  8. Intheknow
    Intheknow Dice:

    Some of the irony is that the Realtors defend themselves aggressively yet, I bet most of you would not have shown this property because its a short sale. If a Realtor, truly, had their clients best interest in mind they would show them all properties available, not just those listed in the MLS. Many Realtors do not want to show these properties as they fear more work. Many Realtors also do not truly know the market. I would say 90% are just looking to close the deal. Most will not even disclose info or past sales that would deter a buyer from making a less aggressive offer. I see it happen all the time. In short, there is not as much I told you so going on as the posts would lead you to believe.

    Responder
  9. Monica
    Monica Dice:

    Of course we will defend our PROFESSION! The negative comments are personal views. To those not so pleasant comments here is a question: Plumbers require a license, would you fix it yourself if you had a major pipe burst at your residence?

    Commission rates are negotiable. Remember these words, «you get what you pay for». As a Listing Agent I take great pride in my services and availability to my sellers.

    Responder
  10. Perfect Storm
    Perfect Storm Dice:

    I sold my home 10 years ago, the realtor had it for months, kept bringing in low ball offers and kept not sharing with clients the flaws in the home that were know to the realtors, this really pissed off buyers! Ended up finding the buyer my self who offered me 5% less than my asking (still more than I expected to take) and I settled with the realtor for 1/2 their commission $7000! My lawyer got $1400 and he did 10x more work than the realtor!

    What a waste, I will never fall for that again.

    Responder

Trackbacks y pingbacks

  1. […] has enlisted the help of an agent when the time came to sell their own home. In August of 2011 we reported on Colby Sambrotto of forsalebyowner.com who, after failing to sell his home using FSBO websites, […]

  2. […] of a major FSBO website has enlisted the help of an agent to sell their home. In August of 2011, it was reported that Colby Sambrotto, of forsalebyowner.com, needed an agent after failing to sell his home using […]

  3. […] has enlisted the help of an agent when the time came to sell their own home. In August of 2011 we reported on Colby Sambrotto offorsalebyowner.com who, after failing to sell his home using FSBO websites, […]

  4. […] has enlisted the help of an agent when the time came to sell their own home. In August of 2011 we reported on Colby Sambrotto of forsalebyowner.com who, after failing to sell his home using FSBO websites, […]

  5. […] has enlisted the help of an agent when the time came to sell their own home. In August of 2011 we reported on Colby Sambrotto of forsalebyowner.com  who, after failing to sell his home using FSBO websites, […]

  6. […] has enlisted the help of an agent when the time came to sell their own home. In August of 2011 we reported on Colby Sambrotto of forsalebyowner.com who, after failing to sell his home using FSBO websites, […]

  7. […] has enlisted the help of an agent when the time came to sell their own home. In August of 2011 we reported on Colby Sambrotto of forsalebyowner.com who, after failing to sell his home using FSBO websites, […]

  8. […] has enlisted the help of an agent when the time came to sell their own home. In August of 2011 we reported on Colby Sambrotto of forsalebyowner.com who, after failing to sell his home using FSBO […]

  9. […] has enlisted the help of an agent when the time came to sell their own home. In August of 2011 we reported on Colby Sambrotto of forsalebyowner.com who, after failing to sell his home using FSBO websites, […]

  10. […] has enlisted the help of an agent when the time came to sell their own home. In August of 2011 we reported on Colby Sambrotto of forsalebyowner.com who, after failing to sell his home using FSBO websites, […]

  11. […] has enlisted the help of an agent when the time came to sell their own home. In August of 2011 we reported on Colby Sambrotto offorsalebyowner.com who, after failing to sell his home using FSBO websites, […]

  12. […] has enlisted the help of an agent when the time came to sell their own home. In August of 2011 we reported on Colby Sambrotto of forsalebyowner.com who, after failing to sell his home using FSBO websites, […]

  13. […] has enlisted the help of an agent when the time came to sell their own home. In August of 2011 we reported on Colby Sambrotto of forsalebyowner.com who, after failing to sell his home using websites, […]

  14. […] has enlisted the help of an agent when the time came to sell their own home. In August of 2011 we reported on Colby Sambrotto of forsalebyowner.com who, after failing to sell his home using FSBO websites, […]

  15. […] has enlisted the help of an agent when the time came to sell their own home. In August of 2011 we reported on Colby Sambrotto of forsalebyowner.com who, after failing to sell his home using FSBO websites, […]

  16. […] has enlisted the help of an agent when the time came to sell their own home. In August of 2011 we reported on Colby Sambrotto of forsalebyowner.com who, after failing to sell his home using FSBO websites, […]

  17. […] has enlisted the help of an agent when the time came to sell their own home. In August of 2011 we reported on Colby Sambrotto of forsalebyowner.com who, after failing to sell his home using FSBO websites, […]

  18. […] has enlisted the help of an agent when the time came to sell their own home. In August of 2011 we reported on Colby Sambrotto of forsalebyowner.com who, after failing to sell his home using FSBO websites, […]

  19. […] was an interesting story about the founder and creator of FSBO.com trying to sell his own New York City condo. Unable to […]

  20. […] FSBO a No Go! Share this:TwitterFacebookLike this:LikeBe the first to like this post. This entry was posted in Uncategorized. Bookmark the permalink. ← Begin your home search […]

  21. […] here for the full article FSBO a No Go!.    Restivo Realtors  …. Vicki and Alexandra  305 […]

  22. […] Guess what—his home SOLD! AND, for almost $150,000 MORE than what he had it listed for–all because he finally enlisted the help of a professional real estate agent! Take a look at the article here. […]

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