When we first got into the real estate business, For Sale By Owner was really popular. There were several competing For Sale By Owner type brokers, and it seemed that a new one was popping up every week or so! Where have they gone? I was thinking about that the other day ... You just don't see much of those professional For Sale By Owner companies around anymore.
I just read an article that I have to share with you. The founder of ForSaleByOwner.com used a real estate agent to sell his New York apartment after he was unable to sell it by owner for six months. The agent came in, raised the price, and got multiple offers!
This is such an unusual story. For one thing, when owners put their homes up for sale themselves they typicall ask too MUCH, not too little! Even at the height of the home sales frenzy, many, many For-Sale-By-Owner sellers priced themselves out of the market. But that is not the point of this story.
The point of this story is that a good real estate agent knows the market! I have always loved real estate and I thought I kept a good eye on home prices when I wasn't selling real estate full time. I really figured I knew pretty well what was going on. Since being in real estate full time for nearly 10 years, I have learned just how wrong I was! The actual value of a home has so many variables that it was next to impossible for a lay person - even a lay person as crazy about real estate as I was, to have a pulse on the home market!
Only a full time professional has the "luxury" of spending hour upon hour, day after day, month after month and year after year studying and searching the multiple listings (which change daily) and reading every article about real estate, construction and lending that hits his inbox. I do it because it's my job, and because I LOVE IT!
So I say, "Good for you, Mr. inventor of forsalebyowner.com!" I am truly glad you sold your apartment and got a fair market price for it as well. That is what us professional REALTORs wake up to do each day!
To read the entire article, click here
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